Shake Shack Analysts Raise Their Forecasts Following Q2 Earnings
Portfolio Pulse from Lisa Levin
Shake Shack Inc (NYSE:SHAK) reported Q2 FY23 sales growth of 17.8% YoY to $271.80 million, missing the analyst consensus of $274.40 million. However, its adjusted pro forma EPS was $0.18 for the quarter, beating the consensus of $0.09. Following the earnings announcement, TD Cowen, Barclays, and Raymond James analysts raised their price targets on Shake Shack.
August 04, 2023 | 3:12 pm
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Shake Shack's Q2 FY23 sales growth missed analyst consensus, but its EPS beat expectations. Post-earnings, several analysts raised their price targets on the company.
Shake Shack's Q2 earnings report showed a mixed picture with sales missing analyst consensus but EPS beating expectations. This could have led to a short-term drop in the stock price. However, the subsequent price target upgrades by TD Cowen, Barclays, and Raymond James indicate a positive outlook for the stock, which could drive its price up in the short term.
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