Shake Shack shares jump after profit and sales beat consensus

Yet impressive as they are, these metrics aren’t even the most important in Shake Shack’s earnings report.

At the end of the second quarter, Shake Shack’s cash and cash equivalents totaled $64.92 million compared to $2.68 million from the same period a year ago. The firm’s market cap is $851.78 million.

Surely helping to spur the decision to boost the store-opening count is the killer quarter Shake Shack just closed: the company reported Monday that it recorded $48.5 million in second quarter revenue, a figure that’s up 74.7% year-over-year and easily cleared the $42.8 million Wall Street consensus.

For the full year, Shake Shack now expects total revenue of $171 million to $174 million, versus its earlier outlook of $161 million to $165 million. Finally, Jefferies Group restated a “hold” rating and set a $60.00 price objective on shares of Shake Shack in a report on Friday, June 26th. Longbow Research reiterated a “hold” rating on shares of Shake Shack in a report on Thursday, July 2nd.

Shares of Shake Shack (NYSE:SHAK) traded up 10.79% during trading on Thursday, hitting $71.64. Morgan Stanley downgraded shares of Shake Shack from an “equal weight” rating to an “underweight” rating and set a $38.00 price target for the company.in a report on Tuesday, July 7th. Shake Shack has a 12-month low of $38.63 and a 12-month high of $96.75. The company presently has a consensus rating of “Hold” and an average target price of $49.29.

During the quarter, Shake Shack opened three company-opened stores in the U.S., as well as one in the United Kingdom and its third in Moscow. Shake Shack is accelerating development of new locations in 2015, with plans to open 12 instead of a previously announced 10 domestically as well as at least five restaurants internationally. The Company also has domestic and worldwide licensed operations.