Is It Too Late to Buy Chewy Stock?
's (NYSE: CHWY) stock soared 27% on May 29 after the company released its latest report. For the first quarter of fiscal 2024, which ended on April 28, the online pet retailer's net sales grew 3% year over year to $2.88 billion and beat analysts' estimates by $40 million. Its adjusted earnings per share (EPS) jumped 55% to $0.31 and cleared the consensus forecast by $0.11.
Chewy followed up its earnings beat by announcing a new $500 million buyback plan, which is equivalent to approximately 7% of its current market cap. The bulls were clearly impressed, but is it too late to chase Chewy's post-earnings rally?
Image source: Getty Images.
Source Fool.com
Chewy Inc Stock
€22.46
-0.840%
The stock is an absolute favorite of our community with 38 Buy predictions and no Sell predictions.
With a target price of 39 € there is a hugely positive potential of 73.68% for Chewy Inc compared to the current price of 22.46 €.
