Growth stocks can be some of the most exciting picks in the market, as these high-flyers can captivate investors’ attention, and produce big gains as well. However, they can also lead on the downside when the growth story is over, so it is important to find companies which are still seeing strong growth prospects in their businesses.
One such company that might be well-positioned for future earnings growth is Chewy, Inc. CHWY. This firm, which is in the Consumer Products - Staples industry, saw EPS growth of 131% last year, and is looking great for this year too.
In fact, the current growth estimate for this year calls for earnings-per-share growth of 123.6%. Furthermore, the long-term growth rate is currently an impressive 20%, suggesting pretty good prospects for the long haul.
Chewy Inc. Price and Consensus
Chewy Inc. price-consensus-chart | Chewy Inc. Quote
And if this wasn’t enough, the stock has actually seen estimates rise over the past month for the current fiscal year by about 3.9%. Thanks to this rise in earnings estimates, CHWY has a Zacks Rank #2 (Buy) which further underscores the potential for outperformance in this company. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So if you are looking for a fast growing stock that is still seeing plenty of opportunities on the horizon, make sure to consider CHWY. Not only does it have double-digit earnings growth prospects, but its impressive Zacks Rank suggests that analysts believe better days are ahead for CHWY as well.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Chewy Inc. (CHWY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research