Pet Industry Ignites: U.S. E-commerce Sees $1.4 Billion Surge in Market Cap

Chewy Inc. (NYSE: CHWY) shares jumped 14.29% to close at $26.80 on March 25, with trading volume of about 13.25 million shares. Its market capitalization rose by roughly $1.07 billion—to approximately $6.39 billion—in a single day.

On Wall Street, 21 brokerages maintain a “moderate buy” consensus on CHWY, with TD Cowen and Barclays assigning price targets between $39 and $48. The company is expanding its pet-health platform and veterinary-clinic business, and ahead of its quarterly results—due before the open on March 25—investors are closely watching its growth trajectory and investment plans.

Headquartered in Plantation, Florida, Chewy was founded in 2011 by Ryan Cohen and colleagues and went public on the NYSE in 2019. Beyond pet food and supplies, it has built out subscription delivery, healthcare services, veterinary clinics and an advertising platform, generating $11.86 billion in revenue in fiscal 2024.