1 Green Flag for Chewy Stock in 2023
Wall Street still isn't ready to buy into 's (NYSE: CHWY) rebound story. The e-commerce retailer's stock has underperformed the market in 2023 on worries over slowing growth trends. Fewer shoppers are placing orders with the pet supply specialist as compared to pandemic highs, after all.
On the bright side, Chewy's average order size is growing, partly thanks to price hikes. And an increasing proportion of shoppers are signing up for its subscription-based delivery service. Yet the company's improving financial position is an even better signal of improving returns ahead for the business.
Sure, Chewy's customer base shrank in fiscal 2022, which ended in late January. Its active shopper base declined by 1% in the past year after jumping 8% higher in 2021.
Source Fool.com
Chewy Inc Stock
The stock is one of the favorites of our community with 38 Buy predictions and 3 Sell predictions.
With a target price of 28 € there is a positive potential of 21.45% for Chewy Inc compared to the current price of 23.06 €.
