What's Going On With Cava Group Stock Wednesday?
Portfolio Pulse from Adam Eckert
Cava Group Inc (NYSE:CAVA) shares are trading lower despite reporting strong Q1 financial results, with revenue and EPS beating estimates. The company saw a 30.3% year-over-year revenue increase and opened 14 new restaurants. Analysts have raised their price targets, but the stock is down 7.56%.
May 29, 2024 | 2:14 pm
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Cava Group reported strong Q1 results with revenue and EPS beating estimates. Despite this, the stock is down 7.56%. Analysts have raised their price targets, indicating long-term confidence.
Cava Group's strong financial performance and raised analyst price targets suggest positive long-term prospects. However, the immediate stock price drop may be due to profit-taking or market volatility.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100