The online pet products retailer Chewy Inc CHWY is a good long-term play, Stephanie Link, chief investment strategist and portfolio manager at Hightower Advisors, said Wednesday on CNBC's "Fast Money: Halftime Report."
She likes that the stock is down 12% year-to-date, but said that even at its current price, the valuation is still high.
The company has a great long-term story, Link said, adding that if the stock pulls back further, she plans to buy it.
Chewy last reported financial results on Mar 30. The company reported earnings of 5 cents per share and revenue of $2.04 billion.
On May 3, Guggenheim initiated coverage on Chewy with a Buy rating and $95 price target.
Related Link: GameStop, Chewy And More: These Are The Stocks Being Added To The Dave Portnoy-Backed ETF
CHWY Price Action: Chewy traded as high as $120 and as low as $36.65 over a 52-week period. The stock lost 3.76% Wednesday, closing at $74.43.
Image by Mat Coulton from Pixabay.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
