Over the past year, Shake Shack Stock has shown a strong momentum nearly doubling the prices. Shake Shack is a New York based fast burger chain has sustained robust growth, which is rightfully exciting its investors about its future prospects. The stocks of the company are listed on New York Stock Exchange under the symbol “SHAK“. This article will discuss about Shake Shack Stock Price Today
Recently Shake Shack has offered free SmokeShack burger with a minimum $10 purchase for its Hollywood’s Biggest Night promotion for one week from 11 March to 18 Mrch. Such offers gives hike in the sales of the company generating huge revenue thereby giving the price rise in its stocks.
Shake Shack has announced that burger lovers can get a free Chicken Shack every Sunday in April with a $10 minimum purchase using code CHICKENSUNDAY. The offer will remain valid at your nearest participating Shake Shack or online on the Shake Shack app or website.
The company has increased its store notably leading to system wide sales of $442.1 million, up by 21% as compared to last year. Thus on the company level net sales has grown by 20% to $286.2 million.
For the investment point of view the company aggressively opened new stores to keep fueling top line growth. In FY 2022, Shake Shack opened 436 system wide stores and during FY 2023, the company opened 518 new outlets with a increase of 18.8%.
Future plans of the company to open about 80 shacks system wide this year. Out of these approximately 40 are company operated and approximately 40 licenced shacks. The company will maintain the same pace of new store openings. These robust plans will help Shake Shack’s revenue growth to sustain to double digits. For FY 2024, Wall Street’s consensus revenue prediction growth of 14.7% to $1.25 billion.
Shake Shack Stock Price Today
Current price of the Stock is $98.75 as on 11 April 2024. The price of the stock is floating around $95 to $100 since some time. While 52 week low has been $52.64 and 52 week high has been $110.9. Your can find the realtime price of Shake Shack stok from the ticker in the top of the post.
Is Shake Shack (SHAK) Stock a Buy?
Looking the views of many financial analysts, Shake Shack stock features a Moderate Buy rating. This is based on the last three months with 6 Buy, 11 Hold and 1 Sell ratings. The average Shake Shack Stock forecast suggest 5.1% downside potential at %99.00.
The Shake Shack has captured investors’ attention with aggressive expansion and revenue growth. In the next financial year the company could sustain double digit growth.
About the Shake Shack Inc.
Daniel Meyer
Independent Chairman of the Board
Randall Garutti
Chief Executive Officer, Director
Katherine Fogertey
Chief Financial Officer
Address
225 Varick St Rm 301
New York, NY
10014-5816
United States