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7 Best Stocks Under $5 to Buy Now - 1 of 7

 
 

#1 - Petco Health & Wellness (NASDAQ:WOOF)

One reason why investors ignore stocks under $5 is that many are those of small-cap stocks that are not yet profitable. These stocks typically underperform in times of rising interest rates because they must borrow to grow. However, with interest rates expected to come down, these stocks may benefit. Petco Health & Wellness Company Inc. (NASDAQ: WOOF) is a good example. 

The company’s revenue is flat year-over-year, which coincides with continued consumer spending in the U.S. pet industry. Negative earnings have contributed to WOOF stock being down 37% in the last 12 months. However, in the 30 days ending September 10, 2024, the stock is up 31.7%.  

That tracks with new analyst price targets, including one from from Wedbush, which has reiterated its Outperform rating and $5 price target for the stock - a 25% increase. And it should be noted that short interest in Petco stock is over 30%, which could make it a candidate for a short squeeze.  

About Petco Health and Wellness

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics. Read More 
Current Price
$4.55
Consensus Rating
Hold
Ratings Breakdown
4 Buy Ratings, 7 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$3.49 (23.3% Downside)

 

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