Where Will Chewy Stock Be in 1 Year?
(NYSE: CHWY) shareholders have seen some wild stock price swings over the past year. Shares have been up as much as 20% and down by the same amount at several points in the 12 months ended in late July. The volatility can be attributed to concerns about the pet supply specialist's slowing growth, balanced against optimism about its strong finances and prime market share position.
The stock's movement over the next year will depend on some factors that aren't predictable like the direction of consumer spending patterns and the timing and severity of any potential recession. But Chewy also has control over key parts of its growth outlook. With that in mind, let's look at the main trends that will drive the stock's performance through mid-2024.
The main element necessary in Chewy's rebound will be continued sales growth momentum. The news was mixed on that score in the most recent quarter, though. On the bright side, Chewy posted accelerating sales growth as revenue expanded 15% in its fiscal first quarter (ended April 30). Yet the company couldn't end the modest slide that shareholders have seen in its pool of active customers. Chewy lost 1% of its customer base on a year-over-year basis, marking roughly the same rate of loss in the prior full fiscal year.
Source Fool.com
Chewy Inc Stock
With 36 Buy predictions and 4 Sell predictions Chewy Inc is one of the favorites of our community.
As a result the target price of 27 € shows a slightly positive potential of 14.24% compared to the current price of 23.64 € for Chewy Inc.
