Chewy: Valuation Improves, But Momentum Remains Down [Seeking Alpha]
Avalara, Inc. (AVLR)
Last avalara, inc. earnings: 2/12 04:10 pm
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Source: Seeking Alpha
Chewy: Valuation Improves, But Momentum Remains Down Summary Chewy is down 46% from its IPO highs since its IPO in mid-June. The company continues to see robust revenue growth rates, and the company's valuation is beginning to improve at current levels. Despite the valuation improvement, I see no reason to go bottom-fishing until we see a bullish change in the stock's momentum. It's been a busy year in the IPO space, with more than 125 thus far this year , compared to the 190 which debuted in 2018. While it's likely that we'll see a drop in year over year, we've seen a record amount of money raised for unprofitable companies thus far in 2019. Chewy ( CHWY ) is one of the more recent unprofitable to debut this year, and unsurprisingly it's had a tough time out of the gate, down 25%. The company's valuation is getting more palatable at less than 3.0x price to sales, which has led to a few bullish calls on the stock. One of the more recent recommendations came in July at $33.80. There
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