Starbucks Stock Is Rising Wednesday: What's Going On?
Portfolio Pulse from Adam Eckert
Starbucks Corp (NASDAQ:SBUX) shares rose after reporting Q1 financial results, despite missing revenue and EPS estimates. Revenue grew 8% YOY to $9.4 billion, below the $9.59 billion estimate. EPS was 90 cents, under the 93 cents forecast. Global comparable store sales increased 5%, with membership growth of 13% YOY. The company opened 549 new stores, ending with 38,587 locations. Full-year 2024 revenue growth is expected at 7-10%, with same-store sales guidance revised down to 4-6%. Analysts adjusted price targets with mixed changes.
January 31, 2024 | 2:22 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Starbucks reported Q1 results with revenue and EPS below estimates, but shares rose due to overall sales growth and strong membership numbers. Analysts have mixed views, adjusting price targets slightly.
The stock rose as investors may have focused on the positive aspects of the report, such as sales growth and membership increases, which could indicate future revenue potential. The mixed analyst ratings with slight price target adjustments reflect a cautious but not bearish outlook.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100