10:39 AM EDT, 09/11/2025 (MT Newswires) -- Chewy (CHWY) delivered "healthy" fiscal Q2 results and Q3 guidance, but the company's fiscal 2025 outlook "likely reflects some conservatism," Wedbush Securities said in a Wednesday note.

The company reported Wednesday fiscal Q2 adjusted earnings of $0.33 per diluted share, up from $0.24 a year earlier, as net sales increased to $3.1 billion from $2.86 billion. Chewy also issued fiscal Q3 revenue guidance of $3.07 billion to $3.10 billion and raised its fiscal 2025 revenue outlook to between $12.5 billion and $12.6 billion, Wedbush said.

The company previously expected fiscal 2025 revenue of $12.3 billion to $12.45 billion.

According to the investment firm, the conservatism in fiscal 2025 outlook reflects a range of potential outcomes, which could turn out positively for Chewy amid evolving macroeconomic conditions. The company expects limited exposure to tariff risk given its higher mix of consumables and health-related offerings and investments in onshore incremental discretionary inventory, Wedbush said.

Wedbush analysts said they "continue to view Chewy as a category-leading online retailer with a strong record of execution and healthy [free cash flow] dynamics."

Wedbush reiterated an outperform rating on the stock with a $45 price target.

Shares were up 1% in recent trading.

Price: 35.47, Change: +0.36, Percent Change: +1.01