PetMed (PETS) Shares Lower as William Blair Concerned with Amazon.com in Pet Medicine Sector

Shares of PetMed Express (Nasdaq: PETS) are down 3.9 percent Monday afternoon following a downgrade from an analyst at William Blair this morning.

The firm's investment rating on PetMed now sits at Market Perform, down from Outperform previously.

The William Blair analyst cites worries related to Amazon.com's (Nasdaq: AMZN) growing presence in the Pet Medicine segment. "A significant share of the items on 1800PetMeds.com can be found more cheaply on Amazon.com." The analyst argues PetMed's exposure to growth at Amazon has increased "materially."

The firm is now modeling for long-term earnings growth of 13 percent, down from 17 percent previously.

To track all the market-moving analyst action on shares of PetMeds, visit our Analyst Ratings page.

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