Is Chewy Stock Going to $100?

By Will Healy – Mar 3, 2026 at 5:25AM ESTKey PointsChewy stock traded as high as $120 per share during the pandemic.It has since lost nearly 80% of its value.A low forward P/E may make the stock attractive to buyers.Chewy (CHWY 1.26%) stock was a pandemic darling. The online pet supply retailer became popular with shoppers as consumers had to cope with lockdowns. That momentum took its stock to an intraday high of $120 per share five years ago. However, investors sold the stock off as pandemic restrictions eased and many consumers returned to their old shopping habits. Still, the growth never completely stopped, and Chewy has expanded into new business lines, helping it increase its profitability. Are such improvements enough to get the retail stock back to $100 per share? Let's take a closer look. Image source: Getty Images. Chewy's growth path Chewy initially attracted a following by not only matching competitors like Amazon on price but also emphasizing a level of customer service that companies like Amazon tend not to provide. Also, with a $10 billion market cap, it is less than 0.5% of Amazon's size and serves a more specific market than the e-retailing giant. Thus, one cannot expect Chewy to establish a business comparable to AWS. Still, that has not stopped Chewy from expanding into new areas. The company now sells pharmaceuticals for pets, and the site offers pet telehealth services. Such offerings allowed it to generate more than $9.3 billion in sales in the first nine months of fiscal 2025 (ended Nov. 2, 2025), an 8% increase from year-ago levels. It also kept cost and expense growth in check, allowing for operating income to grow by 74% yearly during that period. That kind of increase might prompt investors to buy. Unfortunately, an income tax benefit in 2024 skewed net income higher in that year, meaning the $184 million in comprehensive income for the first three quarters of fiscal 2025 fell from last the year before. That took its net margin for the period to 2%, down from 4.3% the year before. Moreover, Chewy is not immune to economic concerns. Consequently, the stock sold off over the last year. ExpandNYSE: CHWYChewyToday's Change(-1.26%) $-0.34Current Price$27.07Key Data PointsMarket Cap$11BDay's Range$26.21 - $27.2752wk Range$23.06 - $48.62Volume10Avg Vol8.1MGross Margin28.58% However, the P/E ratio of 55 is expected to give way to a forward P/E ratio of 17. That forward valuation is low enough that it could help draw investors back into Chewy stock. Is Chewy going to $100? Given Chewy's improving growth, the stock should move higher over time, but investors should not expect it to reach $100 per share anytime soon. Indeed, Chewy is an innovative retailer, and at a 17 forward P/E ratio, it may be undervalued to the point that it could outpace the S&P 500, likely making it worth a second look. Nonetheless, retailing is a low-margin business, meaning it is unlikely to maintain outsize profit growth over time. Also, while Chewy's single-digit revenue growth is respectable, that is likely not enough growth to quadruple its stock price in the foreseeable future.Read NextFeb 22, 2026 •By Timothy GreenDon't Be Fooled by Chewy's Most-Cited StatisticFeb 21, 2026 •By James BrumleyGot $1,000? 3 Stocks to Buy Now While They're on Sale.Feb 18, 2026 •By Justin Pope1 Growth Stock Down 80% to Buy Right NowFeb 14, 2026 •By Adam Levy1 No-Brainer Growth Stock to Buy Now With $50Feb 8, 2026 •By Will HealyChewy Stock Is Quietly Becoming a Buy Again. Here's Why.Feb 4, 2026 •By James BrumleyIs This Once-Popular Growth Stock Finally Worth a Second Look in 2026?About the AuthorWill Healy is a contributing Motley Fool stock market analyst covering technology and consumer goods industries.

Before The Motley Fool, Will was a freelance writer covering stocks and personal finance for MSN Money, Yahoo! Finance, and Nasdaq. Earlier in his career, he was an expert in geographic information systems, applying spatial and IT skills to perform RF and demographic analysis in the telecom industry. He holds a bachelor’s degree in journalism from Texas A&M University and an MBA in finance and strategy from the University of Texas at Dallas.TMFWillHealyX@HealyWritingStocks MentionedChewyNYSE: CHWY$27.08(-1.26%)-$0.35AmazonNASDAQ: AMZN$208.46(-0.73%)-$1.54S&P 500 IndexSNPINDEX: ^GSPC$6,881.62(+0.04%)+$2.74*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.