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published in Blogs
May 07, 2021
Shake Shack (SHAK, $90.15) misses revenue expectations; analysts cut price targets on its shares

Shake Shack (SHAK, $90.15) misses revenue expectations; analysts cut price targets on its shares

On Thursday, Shake Shack posted first-quarter revenue that fell short of analyst forecasts, leading some analysts to lower their share-price targets. 

The fast casual restaurant chain’s revenue for the quarter came in at $155.3 million, versus $161.6 million expected by analysts’ (according to a Bloomberg consensus estimate). However, same-store sales growth of +5.7% handily topped the -1.74% expected by analysts.

Adjusted loss for the quarter was -1 cent vs. -$0.09 anticipated by analysts.

Analysts at Cowen cut its price target on Shake Shack shares to $93 from $97, while affirming its market-perform rating. 

Wedbush analysts lowered its target to $114 from $122 and maintained its rating at neutral.

 

 

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