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Down 40%, Is Now the Time to Buy Recent IPO Cava Group Stock?


Cava Group (NYSE: CAVA) went public this summer to much fanfare. The Mediterranean restaurant that modeled itself after saw its stock soar more than 100% on its first trading day to a market cap of close to $5 billion. With Chipotle up close to 5,000% since going public around 20 years ago, investors were ecstatic to see what they believe could be the next great fast-casual chain to take over the country.

Since then, the excitement has waned. Shares of Cava stock are off 40% from highs reached earlier this summer. The stock now sits at a market cap of $3.9 billion. But looking at its underlying business operations, it's clear that Cava Group continues to crush it. Does that make the stock a buy?

Cava reported its third-quarter earnings in early November. Through the first nine months of 2023, Cava generated $551 million in revenue, up from $434 million in 2022. More importantly, as the company winds down its Zoe's Kitchen acquisition and converts them to the Cava brand, sales at Cava restaurants hit $174 million last quarter, up close to 50% versus 2022.

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Source Fool.com

Chipotle Mexican Grill Inc. Stock

€45.89
-2.400%
We can see a decrease in the price for Chipotle Mexican Grill Inc.. Compared to yesterday it has lost -€1.125 (-2.400%).
With 70 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
Based on the current price of 45.89 € the target price of 2478 € shows a potential of 5300.46% for Chipotle Mexican Grill Inc. which would more than double the current price.
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