What Lies Ahead For Chewy Inc (NYSE: CHWY) In 2024?

Chewy Inc (NYSE:CHWY) shares, rose in value on Thursday, April 04, with the stock price up by 2.82% to the previous day’s close as strong demand from buyers drove the stock to $16.22.

Actively observing the price movement in the recent trading, the stock is buoying the session at $15.77. The value of beta (5-year monthly) is 0.92 whereas the PE ratio is 177.60 over 12-month period. Referring to stock’s 52-week performance, its high was $40.78, and the low was $15.08. On the whole, CHWY has fluctuated by -6.65% over the past month.

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With the market capitalization of Chewy Inc currently standing at about $7.05 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 29, 2024 – Jun 03, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.07, which is expected to increase to $0.2 for fiscal year $0.17 and then to about $0.38 by fiscal year 2026. Data indicates that the EPS growth is expected to be 41.70% in 2026, while the next year’s EPS growth is forecast to be 123.50%.

Analysts have estimated the company’s revenue for the quarter at $2.84 billion, with a low estimate of $2.74 billion and a high estimate of $2.86 billion. Wall Street analysts also predicted that in 2026, the company’s y-o-y revenues would reach $11.7 billion, representing an increase of 5.00% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that CHWY’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of CHWY currently trading nearly -3.19% and -5.95% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 46.13, while the 7-day volatility ratio is showing 3.30% which for the 30-day chart, stands at 4.64%. Furthermore, Chewy Inc (CHWY)’s beta value is 0.90, and its average true range (ATR) is 0.76.

A comparison of Chewy Inc (CHWY) with its peers suggests the former has fared considerably weaker in the market. CHWY showed an intraday change of 2.82% in today’s session so far, and over the past year, it shrunk by -56.34%%.

Data on historical trading for Chewy Inc (NYSE:CHWY) indicates that the trading volumes over the past 10 days have averaged 13.03 million and over the past 3 months, they’ve averaged 8.95 million. According to company’s latest data on outstanding shares, there are 132.91 million shares outstanding.

Nearly 69.78% of Chewy Inc’s shares belong to company insiders and institutional investors own 23.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 20.38 million shares as on Mar 15, 2024, resulting in a short ratio of 2.66. According to the data, the short interest in Chewy Inc (CHWY) stood at 4.69% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 20.71 million. The stock has fallen by -31.38% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the CHWY stock heading into the next quarter.