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Is CAVA Group (CAVA) a 'Buy' Ahead of Q1 Earnings Announcement?
Popular restaurant chain CAVA Group (CAVA - Free Report) is set to report first-quarter earnings results next week. CAVA, a Zacks Rank #2 (Buy), has seen its stock soar since last year’s IPO. With shares hovering at all-time highs ahead of the announcement, is CAVA a buy?
CAVA is expected to post a Q1 profit of $0.03/share. Estimates for the quarter have shot up 50% over the past 60 days. Sales are projected to come in at $245.9 million.
The company has reported earnings results just three times since becoming publicly traded, boasting an impressive 533% average earnings surprise. Shares have surged more than 250% from the IPO price.
Our proprietary Zacks Earnings ESP indicator does not conclusively predict another beat. Keep in mind that stocks can be extremely volatile surrounding earnings announcements.