Wingstop Analysts Raise Their Forecasts After Strong Q3 Results
Portfolio Pulse from Lisa Levin
Wingstop Inc. reported Q3 FY23 sales growth of 26.4% YoY to $117.1 million, beating the analyst consensus estimate. Adjusted earnings of 69 cents per share also beat the consensus estimate. The company raised its FY23 domestic same-store sales growth outlook to about 16%. Following the earnings announcement, Barclays, TD Cowen, and Stephens & Co. raised their price targets on Wingstop.
November 02, 2023 | 5:40 pm
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POSITIVE IMPACT
Wingstop's strong Q3 results and raised FY23 outlook led to increased price targets from Barclays, TD Cowen, and Stephens & Co. This positive sentiment could drive the stock price up in the short term.
Wingstop's Q3 results exceeded analyst expectations, and the company raised its FY23 outlook. This positive news led to increased price targets from several analysts, indicating a positive sentiment towards the stock. This could drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100