Chewy (NYSE:CHWY), an online retailer of pet products, has surged about 24% over the past six months. The upside is driven by Chewy’s robust financial performance, its expansion into the pet pharmacy sector, and various other diversification efforts. Also, the recent investment in Chewy by retail trader Keith Gill, also known as “Roaring Kitty,” has propelled the stock upward. Despite this jump, individual investors have a Very Positive view of the company.
According to TipRanks data, the number of portfolios holding the stock increased by 5% in the last 30 days. Overall, among the 744,702 portfolios monitored by TipRanks, 0.5% have invested in Chewy stock.
For a thorough assessment of the stock, go to TipRanks’ Stock Analysis page.
Learn more about TipRanks’ powerful Investor Sentiment tool here.
Bloggers are Bullish
Also, bloggers are optimistic about CHWY’s performance. Using TipRanks’ Blogger Opinion tool, we can see that bloggers are bullish on Chewy stock. Indeed, of the 71 writers tracked by TipRanks, 78% of them are bullish, which is higher than the sector average.
Is CHWY Stock a Buy?
The company’s improving financials and Chewy’s expansion into new verticals should drive the stock higher in the long term.
On TipRanks, Chewy has a Moderate Buy consensus rating, which is based on nine Buy and four Hold ratings. The analysts’ average price target on CHWY stock of $26.83 implies an 8.14% upside potential.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
