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Investors interested in Internet - Commerce stocks are likely familiar with Chewy (CHWY) and MercadoLibre (MELI). But which of these two stocks presents investors with the better value opportunity right now?
Chewy (CHWY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Chewy is distinctly different from competing pet-supply retailers like Petsense and PetSmart. Consumers remain willing to spend on their pets, even if they're currently cost-conscious about how they do it.
Chewy CHWY sent waves through the market as its share price rose as much as 15% after its second-quarter 2024 earnings were released. This positive investor reaction underscores Chewy's growing dominance in the $232 billion e-commerce pet sector, proving that its customer-centric approach and strategic initiatives are translating into tangible financial success.
U.S. stocks settled higher on Friday, with the S&P 500 gaining 2.3% during August to record its fourth consecutive winning month. The Dow rose around 1.8%, while the Nasdaq Composite recorded a 0.7% gain for the period.
Chewy returned to growth in a critical customer metric.
Healthcare and pet spending continue to perform in a wide range of economic environments. Eli Lilly is a storied business, raking in cash and profits while paving the way to a stronger future.
On Wednesday, Chewy Inc. CHWY reported better-than-expected second-quarter 2024 results and reaffirmed annual guidance.
Eva Ados, ERShares chief investment strategist, joins 'Power Lunch' to discuss stock plays for three stocks.