CAVA Group, Inc. (CAVA) stock is making waves on Thursday, riding a wave of anticipation ahead of its second-quarter earnings report for the 2024 fiscal year. The report is expected to be released after the market closes, and analysts are predicting strong results.
Analysts anticipate CAVA to report earnings per share (EPS) of $0.12 and revenue of $218.21 million. The company has a history of exceeding analysts’ expectations for both EPS and revenue. In the first quarter, CAVA surprised with an EPS of $0.12, surpassing the estimated $0.04. Revenue also came in stronger than expected at $259 million, exceeding the projected $245.93 million.
Adding to the bullish sentiment, Stifel analyst Chris O’Cull recently maintained a Buy rating on CAVA Group and raised the price target from $90 to $110. The stock is currently trading above its 52-week high of $102.9 at around $104, and it’s also trading above its 50-day moving average of $88.86.
For investors looking to gain exposure to CAVA, there are a few options. Besides purchasing shares directly through a brokerage platform, investors can also access CAVA shares through ETFs that hold the stock or by allocating to a strategy in their 401(k) that seeks to acquire shares in mutual funds or similar instruments. CAVA belongs to the Consumer Discretionary sector, so ETFs focused on this sector will likely include CAVA shares, offering a diversified way to invest in this growing company.
CAVA’s strong performance, positive analyst sentiment, and strategic positioning within the Consumer Discretionary sector make it an interesting stock to watch. As the company prepares to release its second-quarter earnings, investors will be eager to see if CAVA continues its upward trajectory.
