3 Reasons to Buy Chewy Stock Like There's No Tomorrow
Shares of pet-supply retailer (NYSE: CHWY) may be up from May's lows. But it's far too soon to say investors are falling back in love with the once-hot stock. Chewy shares are still down nearly 80% from their 2021 pandemic-prompted peak, and currently priced right at analysts' consensus target of $25.44 (nearly half of whom only rate Chewy stock a "hold"). Clearly, the jury is still out on this company's prospects.
Forward-thinking investors, however, might want to go ahead and consider diving into Chewy stock anyway despite the apparent lack of serious bullish interest. The market seems to be looking right past three big reasons to own this stock.
You're likely familiar with the company (particularly if you're a pet owner). Chewy sells a range of pet toys, food, medicines, and other pet-related products. It's distinctly different than names like Petco Health and Wellness and Petsense, though. Whereas most of its competitors manage a brick-and-mortar presence, Chewy's been built from the ground up since its 2011 founding to be an online-only operation.
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 €.
