5 Reasons to Buy Chewy Stock Hand Over Fist
Leading online pet-products retailer Chewy (NYSE: CHWY) has seen its share price rocket 56% higher over the last month. This run might have investors thinking they missed their opportunity to buy shares in the newly profitable business.
However, even after growing its net profit margin from negative 9% in 2018 to 2.3% in its last quarter, Chewy could still be in the early stages of its margin expansion with a focus on higher-margin businesses. Here are five reasons Chewy could see its profitability continue to move higher for years to come, making it an excellent stock to buy hand over fist.
The company has built a $3 billion pet healthcare business named Chewy Health, in addition to its traditional retail sales of pet food and toys. It sells prescription and over-the-counter medicines, supplements, and veterinary diets, and now accounts for roughly 30% of the company's sales.
Source Fool.com
Chewy Inc Stock
The stock is one of the favorites of our community with 38 Buy predictions and 4 Sell predictions.
With a target price of 29 € there is a slightly positive potential of 12.32% for Chewy Inc compared to the current price of 25.82 €.
