Time to Treat Yourself to Chewy Stock After Upgraded 2021 Guidance
Pet e-commerce company Chewy (NYSE: CHWY) has now put up back-to-back solid earnings reports since the high-growth tech stock sell-off started this past March. Shares are down 18% so far this year as a result, including down 36% from all-time highs as of this writing.
This four-legged friend tech innovator is doing just fine, though. In fact, shares look like a downright good deal right now. If you haven't done so already, now looks like the time to adopt this pet care leader into your portfolio.
Chewy said it ended its first quarter of 2021 (the three months ended May 2, 2021) with 19.8 million customers, a 32% increase year over year. These pet parent households spent on average $388, an almost 9% increase. Over 69% of them use Chewy's popular autoship option, in which food and other supplies are automatically delivered on a recurring basis -- creating a highly predictable stream of revenue for Chewy.
Source Fool.com
