Shares of Cava Group (NYSE: CAVA) caught investor interest when it went public last year as one of few exciting initial public offerings (IPOs). Cava operates a small chain of Mediterranean-inspired restaurants with big potential. Its stock is already up 63% this year on encouraging results and investor enthusiasm. Is it too late to buy?

Cava is often compared to megastock Chipotle Mexican Grill. It offers a similar fast-casual experience, with healthy fresh fare at a moderate price point. Chipotle has demonstrated that it's resilient and high-performing, and it's rewarded shareholders handsomely. It's no wonder investors are interested in what could be the next Chipotle.

So far, Cava has momentum. It's still in its infancy, with 309 restaurants as of the end of 2023, or 72 more than the year before. It's planning to open about 50 in 2024.

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Source Fool.com