On August 19, CAVA Group Inc. rose 5.11% in regular trading, trading at $72.34/share, with turnover of $13.23 million. The stock continued its upward momentum following a strong Q2 earnings report released on August 11.

The company reported Q2 revenue of $368.4 million, up 31.3% year-over-year and exceeding the Wall Street consensus estimate of $360.1 million. Adjusted EPS came in at $0.19, beating the $0.18 estimate. CAVA reaffirmed full-year guidance, including net new openings of 75 to 77 restaurants and same-store sales growth of 4.5% to 6.5%.

Multiple institutions have expressed continued optimism. UBS noted that top-line performance is poised to keep improving in H2, driven by fading food safety headline impact and strategic initiatives including menu innovation, digital and loyalty gains, and operational improvements. Jefferies maintained a Buy rating with a $95 target, while RBC raised its target to $95, citing recovering same-store sales and strong new restaurant performance. Northcoast also upgraded the stock to Neutral from Sell.

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