Cava Stock Has Fallen Over The Past Three Months: What's Going On?

Benzinga

CAVA Group beat first quarter expectations with adjusted EPS of 22 cents vs. 14-cent estimates and revenue of $331.83 million, up 28.2% year-over-year, according to Benzinga. The Mediterranean fast-casual chain reported same-restaurant sales growth of 10.8% and traffic growth of 7.5%, driven in part by 15 new restaurant openings. Cava raised its fiscal year guidance to 64 to 68 new locations and 6% to 8% same-restaurant sales growth. TD Securities, Baird, and Citigroup raised or reaffirmed price targets, while Stifel and JP Morgan lowered theirs. The average price target is $116.53, with a range of $48 to $150. Shares are down 2.68% over the past three months.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Kava Group beat first quarter expectations with adjusted EPS of 22 cents versus 14-cent estimates

00:07and revenue of $331.83 million of 28.2% year-over-year, according to Benzinga.

00:14Meta-trading fast casual chain reported same restaurant sales growth of 10.8%

00:18and traffic growth of 7.5%, committed to part by 15 new restaurant openings.

00:23Kava raised its fiscal year guidance to 64 to 68 new locations

00:27and 6% to 8% same restaurant sales growth.

00:30TD Securities, Barron and Citigroup raised a reaffirm price targets

00:34while Stifle and J.P. Morgan lowered theirs.

00:36Average price target is $116.53, the range of $48 to $150.

00:42Shares are down 2.68% over the past three months.

00:46For all things money, visit Benzinga.com.

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