Where Will Cava Stock Be in 5 Years?
Cava Group (NYSE: CAVA) shareholders are sitting fat and happy after the last year. As of this writing the stock in the Mediterranean restaurant chain is up a whopping 300% in the last 12 months, making it one of the best-performing stocks in the world over the last year.
The recent IPO has become an investor favorite with its strong traffic growth and room to expand its restaurant locations around the nation. However, the stock now has a demanding valuation with a market cap of $14 billion and less than $1 billion in sales. Where will Cava Group stock be in five years, and should you buy or sell shares today? Time to take a closer look and analyze this 2024 investor favorite.
The founders of Cava had a fantastic idea: take the success of and apply it to another international cuisine. They chose Mediterranean-style food, and it has become a hit. Cava now has 341 locations spread around the United States, with unit count growing by over 20% year over year last quarter. In 2024, it expects to open around 55 new locations.
Source Fool.com
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