Chipotle Stock Is Up Over 90% This Year, And Could Go Higher After Beating Earnings

The top-performing stock in the S&P 500 this year, Chipotle beat third-quarter earnings expectations on Tuesday, as the fast-casual burrito chain continues its meteoric comeback from a string of food safety issues several years ago.that came in higher than analyst estimates, thanks to strong sales momentum—especially in digital platforms like delivery, success of new menu items like carne asada and more favorable avocado prices.

Chipotle’s earnings mark yet another quarter of impressive growth, cementing the burrito chain’s rebound from a series of food safety lapses, such as E. coli outbreaks and salmonella, that plagued the restaurant from 2015 to 2017. Third-quarter profits were $3.82 per share, compared with $3.22 expected; overall sales grew almost 15% to $1.4 billion, with revenue for 2019 now expected to hit $5.5 billion—a marked increase from $4 billion two years ago.

Digital sales, spurred by expanded delivery and pickup options as well as a new Chipotle loyalty app, also continued to grow dramatically.in after-hours trading; overall, the stock has soared more than 90% this year and is up over 160% over the last two years.Chipotle’s price target going before earnings: Goldman Sachs analysts maintained that the stock could surpass $1,000 per share, while Bank of America Merrill Lynch analysts upgraded their price target to $850.

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