4 Reasons to Buy Chewy Stock Like There's No Tomorrow
Home to over 20 million active customers, pet e-commerce specialist Chewy (NYSE: CHWY) has quickly grown its share of the United States' $144 billion pet-retail industry from 6% in 2018 to 12% in 2023. Despite tripling its sales over this time, the company's stock remains well below its initial public offering (IPO) price.
While a good rule of thumb is to avoid stocks that have yet to return to their IPO price after five years, Chewy stands out as an exception to this theory for four key reasons. Here are the four reasons why I believe Chewy is worth buying like there is no tomorrow.
Research firm Packaged Facts calculated that the U.S. pet market grew by 9% annually since 2017 and estimates it will continue growing by a 7% annualized rate through 2027. Helping to power these impressive growth rates is the pet humanization megatrend, which sees 96% of pet owners classifying their furry companions as family members.
Source Fool.com
Chewy Inc Stock
With 30 Buy predictions and 3 Sell predictions Chewy Inc is one of the favorites of our community.
As a result the target price of 28 € shows a very positive potential of 89.5% compared to the current price of 14.78 € for Chewy Inc.
