Management was proud of PetMed's financial performance throughout fiscal 2009, citing the fourth quarter in particular. Reorder and new order growth were cited as factors in the company's successful fiscal year. The company's weak operating cash flow could be a cause for concern, but we feel this is outweighed by the strengths detailed above. In addition, we feel that PetMed's stock has good upside potential in most market conditions, despite the fact that it has already risen in the past year as a result of earnings growth and other factors like those cited here.
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, is based on a variety of historical fundamental and pricing data and represents our opinion of a stock's risk-adjusted performance relative to other stocks.
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For those reasons, we believe that a rating alone cannot tell the whole story and that it should be part of an investor's overall research.