Overview

• Chewy shares fell about 16% after a largely positive quarter failed to top bullish whisper targets, despite beating several consensus estimates.
• Deutsche Bank and Seaport raised their ratings, saying the post-drop valuation looked too cheap for the underlying story.
• Jim Cramer told viewers they have his blessing to buy the stock, pointing to market-share gains and long-term payoff from growth spending.
• Management has leaned on Chewy+ membership and autoship to deepen loyalty and recurring spend, with quarterly revenue up 8.6%.
• Coverage cited a Sept. 12 price near $34.66 and trailing/forward P/E of roughly 96/28, while flagging higher service costs and slower European expansion as ongoing risks.