There are multiple reasons you might want to invest in shares of Chewy (NYSE: CHWY) stock. A key one, to me, is its valuation. Its recent forward-looking price-to-earnings (P/E) ratio of 24 is well below its five-year average of 73, and the recent price-to-sales ratio of 1.1 is well below the stock's five-year average of 1.4. The stock has not been a phenomenal performer lately, though, with its shares averaging annual losses of 21% over the past five years. Thus, you should be quite confident that it wi ...