Chewy (CHWY) closed the latest trading day at $29.17, indicating a +1.14% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.23%. At the same time, the Dow added 1.02%, and the tech-heavy Nasdaq gained 1.43%.

Prior to today's trading, shares of the online pet store had gained 2.93% over the past month. This has outpaced the Retail-Wholesale sector's gain of 0.58% and the S&P 500's loss of 0.54% in that time.

The investment community will be closely monitoring the performance of Chewy in its forthcoming earnings report. In that report, analysts expect Chewy to post earnings of $0.23 per share. This would mark year-over-year growth of 53.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.86 billion, up 4.44% from the year-ago period.

For the full year, the Zacks Consensus Estimates project earnings of $1.14 per share and a revenue of $11.83 billion, demonstrating changes of +65.22% and +6.34%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Chewy. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Chewy possesses a Zacks Rank of #3 (Hold).

From a valuation perspective, Chewy is currently exchanging hands at a Forward P/E ratio of 25.3. This valuation marks a premium compared to its industry's average Forward P/E of 24.31.

Investors should also note that CHWY has a PEG ratio of 0.81 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Internet - Commerce industry had an average PEG ratio of 1.25.

The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 68, which puts it in the top 27% of all 250+ industries.