These Analysts Increase Their Forecasts On Shake Shack After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
Shake Shack Inc. (NYSE:SHAK) reported better-than-expected Q4 financial results, with a 20% Y/Y sales increase to $286.2 million and adjusted EPS of 2 cents, surpassing consensus estimates. The company opened 24 new Shacks and projects FY24 revenue of $1.21 billion-$1.25 billion with an operating margin of 20%-21%. Shares surged 26% to $98.40. Analysts from TD Cowen and Wedbush adjusted their price targets for SHAK following the earnings report.
February 16, 2024 | 1:06 pm
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Shake Shack reported strong Q4 results, with sales and EPS beating estimates. The company also provided optimistic FY24 revenue and margin projections. Shares rose 26% following the announcement.
The positive earnings report and optimistic future projections likely contribute to investor confidence, driving up the stock price in the short term. The significant share price increase post-announcement indicates strong market reaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100