On August 12, CAVA Group Inc. rose 6.8% in after-hours trading, trading at $65.29/share, with turnover of $17.91 million. The rally was driven by the company's fiscal Q2 results released after market close, which exceeded Wall Street expectations on both the top and bottom lines.

CAVA reported adjusted earnings per share of $0.19, surpassing the consensus estimate of $0.18, representing an 18.75% increase over $0.16 per share in the year-ago quarter. Revenue came in at approximately $368.4 million, comfortably beating the $360.5 million analyst expectation. Operating income for the quarter reached $26.8 million.

The beat follows a strong Q1 in which CAVA posted $438.3 million in revenue and $0.20 EPS, both well above estimates. Multiple institutions maintain bullish stances on the stock, with an average analyst rating of overweight and a mean price target of approximately $92.77. Morgan Stanley upgraded the stock to Overweight in July, while UBS initiated a Buy rating in June, citing resilient same-store sales momentum and accelerating store expansion toward a 1,000-restaurant target by 2032.

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