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Chewy Inc. (NYSE: CHWY): An Enticing Stock To Watch

Chewy Inc. (NYSE:CHWY) shares, rose in value on Thursday, 06/23/22, with the stock price up by 12.35% to the previous day’s close as strong demand from buyers drove the stock to $36.65.

Actively observing the price movement in the last trading, the stock closed the session at $32.62, falling within a range of $33.00 and $36.68. The value of beta (5-year monthly) was 0.47. Referring to stock’s 52-week performance, its high was $97.74, and the low was $22.22. On the whole, CHWY has fluctuated by 47.19% over the past month.

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With the market capitalization of Chewy Inc. currently standing at about $15.27 billion, investors are eagerly awaiting this quarter’s results, scheduled for Mar 28, 2022 – Apr 01, 2022. 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 -$0.13, which is expected to increase to -$0.06 for fiscal year -$0.46 and then to about -$0.17 by fiscal year 2024. Data indicates that the EPS growth is expected to be -155.60% in 2024, while the next year’s EPS growth is forecast to be 63.00%.

Analysts have estimated the company’s revenue for the quarter at $2.42 billion, with a low estimate of $2.4 billion and a high estimate of $2.61 billion. According to the average forecast, sales growth in current quarter could jump up 13.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $10.43 billion, representing an increase of 17.30% 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 50% Sell on average. However, medium term indicators have put the stock in the category of 50% 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 32.02% and 21.37% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 67.40, while the 7-day volatility ratio is showing 7.08% which for the 30-day chart, stands at 8.23%. Furthermore, Chewy Inc. (CHWY)’s average true range (ATR) is 2.45.

Data on historical trading for Chewy Inc. (NYSE:CHWY) indicates that the trading volumes over the past 10 days have averaged 6.44 million and over the past 3 months, they’ve averaged 6.52 million. According to company’s latest data on outstanding shares, there are 420.41 million shares outstanding.

The data on short interest also indicates that stock shorts accounted for 22.67 million shares as on Apr 28, 2022, resulting in a short ratio of 3.78. According to the data, the short interest in Chewy Inc. (CHWY) stood at 5.39% of shares outstanding as of Apr 28, 2022; the number of short shares registered in Mar 30, 2022 reached 26.02 million. The stock has fallen by -37.85% 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.

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