Chewy's ‘defensive' business could shine as pets need food in any economic climate, says analyst [MarketWatch]
Chewy, Inc. Class A (CHWY)
Last chewy, inc. class a earnings: 12/9 04:15 pm
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Source: MarketWatch
In good and bad economic times, people need to buy pet food, and that's one reason Chewy Inc.'s stock may be worth a new look. Needham analyst Anna Andreeva upgraded Chewy shares CHWY, to buy from hold Monday, writing that the stock looks like a way to play defense in the current market. “The pet space is defensive (historically outperforms during recessions) and demand is inelastic (cost increases are passed through to consumers, especially in the staple-like Consumables category),” she wrote in a note to clients. Chewy's stock was up 0.2% in afternoon trading Monday. Chewy has other factors working in its favor as well, in Andreeva's view. After having missed consensus expectations on earnings before interest, taxes, depreciation, and amortization (Ebitda) for four straight quarters, Chewy snapped the streak with a beat in the first quarter, and Andreeva thinks the company has been able to maintain that new momentum. Not only are pet items “inelastic,” but she also sees s
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CHWY
News
- 10 smart devices that make pet parenting easier [FOX News]FOX News
- HALO COLLAR NAMED TO FAST COMPANY'S ANNUAL LIST OF THE WORLD'S MOST INNOVATIVE COMPANIES OF 2024 AND INC MAGAZINE'S LIST OF THE NORTHEAST REGION'S FASTEST-GROWING PRIVATE COMPANIES [Yahoo! Finance]Yahoo! Finance
- Technology Gets The Headlines, But Relationships Remain The Foundation [Forbes]Forbes
- The Unexpected Benefits of Expensive Pet Food [Yahoo! Finance]Yahoo! Finance
- Down But Not Out - Why Chewy Could Be Dirt Cheap [Seeking Alpha]Seeking Alpha
CHWY
Earnings
- 3/20/24 - Beat
CHWY
Sec Filings
- 4/8/24 - Form 4
- 4/8/24 - Form 4
- 4/8/24 - Form 4
- CHWY's page on the SEC website