Where Will Cava Stock Be in 5 Years?
Since it debuted on the public markets at $22 per share in June 2023, Cava Group (NYSE: CAVA) has been a winner for investors. As of this writing, the stock is up 93% from that opening price, trouncing the broad S&P 500 market index.
But before rushing to buy this restaurant stock, investors should consider where the business could be in five years. This long-term mindset forces us to think about the factors that really matter.
The company had its initial public offering about seven months ago, and investors shouldn't be surprised that Cava's investing thesis centers on huge growth potential. In the most recent quarter (Q3 2023, ended Oct. 1), revenue increased 50% year over year, and same-store sales jumped 14%. These are stellar figures on their own but even more impressive, given what has been an unfavorable macro backdrop.
Source Fool.com
