Is it good for me to do push-ups everyday?

I'm 17 and I want to be able to do more push-ups and get a bigger chest and bigger triceps. I use to do push-ups everyday (until failure) and my max was 40 push-ups. I stopped doing it because I was told that I was wearing out my muscles and that my chest needs to recover. It's been about 2 months since I've stopped and now my max is 30 (as of yesterday). Is it bad for me, as a skinny, but toned 121 pound guy, to be doing push-ups everyday or is it beneficial?
Is it good for me to do push-ups everyday?
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