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Petco IPO: Share Price Has Stabilized, Is Now the Time to Buy?

Source: https://www.similarweb.com/corp/blog/petco-ipo-share-price-has-stabilized-is-now-the-time-to-buy/

Petco re-entered the public markets on 14 January, raising $864M, and its stock price was up 55% in the moments after its third IPO.

The company is now trading on the ticker WOOF, and the share price has stabilized following its initial surge. Whether you participated in Petco IPO or not, we used alternative data to gain insight into the online health and performance of the company.

Key Takeaways:

  • Petco.com is experiencing strong YoY growth in monthly visits
  • The company has started to invest more in paid advertising since April, but maintains strong brand strength

The company has started to invest more in paid advertising since April, but maintains strong brand strength

Monthly visits

Monthly visits to petco.com in the U.S. are significantly lower than competitor chewy.com, however year-over-year (YoY) growth is higher for petco.com. In Q4 20, petco.com experienced 95% YoY growth in monthly visits compared to chewy.com that experienced 60% YoY growth.

In Q2 20 Petco.com saw a huge jump in YoY growth of monthly visits, which set the tone for the rest of the year.

So, where is this growth coming from?

Petco’s brand awareness

Petco has strong brand awareness, displayed by ~75% traffic coming directly and organically. However the company has started to invest more in paid advertising since April, likely contributing to the strong growth in site visits.

An increase in site visits is one thing, but what we really want to know is whether Petco is making a good return on its investment in paid search.

To learn more about the data behind this article and what Similarweb has to offer, visit https://www.similarweb.com/.

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DATA PROVIDER SPOTLIGHT

ForwardKeys

ForwardKeys is one of the leading travel analytics firms that provides investment firms with alternative and predictive data on the travel industry. Data is offered both on the demand and the offer-side of the aviation market.

Actual Air Reservations is an aggregation of flight bookings made via the Global Distribution Systems. Exclusive agreements make that global travel data is available, including regions that are generally difficult to track. This data contains valuable insights into the profile, behaviour, and impact of events on past, present and future air travellers.

Seat Capacity provides insights into the scheduled flights from 99% of global commercial airlines.

Financial institutions use this data for artificial intelligence and predictive models to forecast the performances of businesses. Combined, the datasets can provide insights into the financial health of businesses operating in the travel and tourism industry. This list contains companies like airlines, airplane leasing companies, oil companies, hotels and travel agencies.

GET WEEKLY ALERTS

Sign up to receive our stories in your inbox.

The email you entered is not valid.

LET US HELP

Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

DATA PROVIDER SPOTLIGHT

ForwardKeys

ForwardKeys is one of the leading travel analytics firms that provides investment firms with alternative and predictive data on the travel industry. Data is offered both on the demand and the offer-side of the aviation market.

Actual Air Reservations is an aggregation of flight bookings made via the Global Distribution Systems. Exclusive agreements make that global travel data is available, including regions that are generally difficult to track. This data contains valuable insights into the profile, behaviour, and impact of events on past, present and future air travellers.

Seat Capacity provides insights into the scheduled flights from 99% of global commercial airlines.

Financial institutions use this data for artificial intelligence and predictive models to forecast the performances of businesses. Combined, the datasets can provide insights into the financial health of businesses operating in the travel and tourism industry. This list contains companies like airlines, airplane leasing companies, oil companies, hotels and travel agencies.