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CAVA Group, Inc. CAVA shares are trading higher Tuesday, and the stock is up more than 20% over the past month. Here’s a look at what’s going on.
What To Know:
Cava Group is set to report its first-quarter financial results after the bell Tuesday and will host a conference call to discuss the results at 5 p.m. ET. The stock is moving one of the top trending tickers on WallStreetBets and is moving on above-average volume ahead of the earnings report.
According to estimates from Benzinga Pro, analysts expect the company to report earnings of 4 cents per share and quarterly sales of $245.935 million.
Earlier in May, Cava announced the official opening of a new food production and packaging facility in Verona, Virginia to support at least 750 restaurants and the expansion of Cava’s consumer packaged goods business.
Last Friday, Stifel analyst Chris O’Cull maintained Cava Group with a Buy rating and raised the price target from $66 to $90.
According to data from Benzinga Pro, shares are trading above the stock’s 50-day moving average of $60.06 and 15.37% of Cava shares are being sold short.
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CAVA Stock Prediction 2024:
Equity research can be a valuable source of information for learning about a company’s fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Cava Group have an average 1-year price target of $67.60, representing an expected downside of 20.6%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Cava Group, while 12 analysts have bullish ratings. The street high price target from Stifel is $90, while the street low from JP Morgan is $50.
CAVA Price Action: According to Benzinga Pro, Cava Group shares are up 0.79% at $83.59 at the time of publication Tuesday.
Image: Courtesy of Cava Group, Inc.
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