#2 - Chewy (NYSE:CHWY)
Chewy (NYSE:CHWY) allows investors to take advantage of several emerging trends. The first is the continuing growth of the pet sector. Pet adoptions spiked during the pandemic as many Americans decided spending more time at home was a good reason to add a furry family member.
The second trend is that the surge in pet adoptions has led to a shortage in pet food that Supermarket News says may last into 2022. And that is likely to be a catalyst for Chewy which is becoming a significant player in the e-commerce sector, the third trend that makes CHWY stock a buy. Chewy has managed to do something that’s not easy – carve out a niche against Amazon (NASDAQ:AMZN).
Chewy stock is down almost 30% in 2021 and much of that is based on the expectation that the company will not be able to maintain its year-over-year growth. But the stock is looking oversold which sets nimble investors up for a nice reversal.
About Chewy
Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.
Read More - Current Price
- $35.87
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 14 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $31.25 (12.9% Downside)
