Shake Shack Analysts Raise Their Forecasts Following Q2 Earnings

Shake Shack Inc SHAK reported upbeat earnings for its second quarter.

Shake Shack reported second-quarter FY23 sales growth of 17.8% year-on-year to $271.80 million, missing the analyst consensus of $274.40 million. Adjusted pro forma EPS was $0.18 for the quarter, beating the consensus of $0.09.

Shake Shack shares fell 0.5% to close at $74.67 on Thursday, but added 1.2% in pre-market trading.

Earn 7.2% — No Matter What the Fed Does

Markets expect rate cuts — but your earnings don’t have to suffer. Lock in 7.2% until 2028 from ten individual bonds.

These analysts made changes to their price targets on Shake Shack following earnings announcement.

TD Cowen raised the price target on Shake Shack from $75 to $78. TD Cowen analyst Andrew Charles maintained a Market Perform rating.
Barclays increased the price target on Shake Shack from $64 to $72. Barclays analyst Jeffrey Bernstein maintained an Equal-Weight rating.
Raymond James analyst Brian Vaccaro upgraded Shake Shack from Market Perform to Outperform and announced an $87 price target.

Read This Next: Top 5 Financial Stocks That May Implode This Quarter

SHAKShake Shack Inc

$117.620.28%