Investors have been gobbling up Cava Group (NYSE: CAVA) shares since its initial public offering (IPO) in June, with its stock up roughly 70% from an IPO price of $22 per share. The Mediterranean fast-casual restaurant chain has big ambitions, following in the footsteps of competitors like Chipotle Mexican Grill (NYSE: CMG).
Given the meteoric rise of Chipotle's stock over the past decade, it's worth examining whether Cava can replicate its success. So, let's look at Cava's long-term goals, recent financial metrics, and whether its stock is worth adding to your portfolio.
As of its most recently reported quarter, Cava had 290 locations across 24 states and the District of Columbia, a nearly 36% year-over-year increase. Those locations generated $173.8 million in revenue, a year-over-year increase of 50%. (For comparison, Chipotle most recently reported 3,321 locations and has opened a net of 134 stores over the trailing 12 months.)
Source Fool.com