Chipotle Stock Just Jumped 8% in 24 Hours. Here's Why Investors Are Buying This Stock Hand Over Fist.
Chipotle Mexican Grill (NYSE: CMG) reported a blowout quarter in the last three months of 2023. Revenue of $2.5 billion and adjusted earnings per share of $10.36 both beat Wall Street expectations. Within 24 hours following the announcement, shares were up about 8%.
In the past five years, this magnificent restaurant stock has skyrocketed 406%, crushing the S 500 by a wide margin. Here's why investors are buying Chipotle hand over fist right now.
Compared to 2022's fourth quarter, the company's revenue increased by 15.4%, driven by an 8.4% rise in same-store sales. What's noteworthy is that Chipotle reported an impressive 7.4% jump in transaction counts, indicating that foot traffic at its restaurants remains robust despite ongoing macroeconomic uncertainty.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
The stock is one of the favorites of our community with 70 Buy predictions and 1 Sell predictions.
With a target price of 2478 € there is potential for a 5300.46% increase which would mean more than doubling the current price of 45.89 € for Chipotle Mexican Grill Inc..
