Beef Cost Management: Shake Shack is addressing rising beef prices, which surged 35.4% year-over-year, by implementing a selective 2% menu price increase and maintaining strong sales performance.
Sales and Earnings Outlook: Despite a slight reduction in adjusted EBITDA projections for 2025 and 2026, Shake Shack's same-store sales estimates for Q3 have been raised to 3.5%, driven by successful marketing campaigns and new product launches.
Store Growth and Guidance: The company has opened 13 new locations in Q3, slightly below the expected 14, but maintains its full-year forecast of 48 new openings and reaffirms its revenue outlook for 2025.
Stock Performance: Shake Shack shares have seen a recent increase, trading at $94.97, with a valuation near historic lows compared to pre-COVID averages, while analysts continue to hold a Buy rating on the stock.
SHAK
$83.65+Infinity%1D
Analyst Views on SHAK
Wall Street analysts forecast SHAK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SHAK is 111.38 USD with a low forecast of 86.00 USD and a high forecast of 146.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
20 Analyst Rating
Wall Street analysts forecast SHAK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SHAK is 111.38 USD with a low forecast of 86.00 USD and a high forecast of 146.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Buy
11 Hold
2 Sell
Hold
Current: 83.160
Low
86.00
Averages
111.38
High
146.00
Current: 83.160
Low
86.00
Averages
111.38
High
146.00
Loop Capital
Hold
to
Buy
upgrade
$98 -> $127
2025-11-14
Reason
Loop Capital
Price Target
$98 -> $127
2025-11-14
upgrade
Hold
to
Buy
Reason
Loop Capital upgraded Shake Shack to Buy from Hold with a price target of $127, up from $98. The firm believes concerns over the company's slower growth in October are "overblown." Shake Shack is growing units at a low double-digit to mid-teen pace, has industry-leading store level returns, and will likely generate modestly positive comparable sales growth over the next 12-18 months, the analyst tells investors in a research note. Loop says these attributes make the valuation implied by its new price target "easily justifiable." Shake Shack shares in premarket trading are up 1% to $91.26.
Loop Capital
Hold
to
Buy
upgrade
$98 -> $127
2025-11-14
Reason
Loop Capital
Price Target
$98 -> $127
2025-11-14
upgrade
Hold
to
Buy
Reason
Loop Capital upgraded Shake Shack to Buy from Hold with a price target of $127, up from $98. The firm believes concerns over the company's slower growth in October are overblown.
Truist
Buy
downgrade
$156 -> $146
2025-11-02
Reason
Truist
Price Target
$156 -> $146
2025-11-02
downgrade
Buy
Reason
Truist lowered the firm's price target on Shake Shack to $146 from $156 but keeps a Buy rating on the shares after its Q3 results. Shake Shack has a compelling SSS, margin expansion and accelerating development story, despite trading near its all-time low multiple, the analyst tells investors in a research note. The company is relying on increased marketing to support traffic in a challenging environment, but it is proving effective, the firm added.
Oppenheimer
Oppenheimer
Outperform
downgrade
$160 -> $145
2025-10-31
Reason
Oppenheimer
Oppenheimer
Price Target
$160 -> $145
2025-10-31
downgrade
Outperform
Reason
Oppenheimer lowered the firm's price target on Shake Shack to $145 from $160 and keeps an Outperform rating on the shares. The firm notes the company delivered strong Q3 results with same-store sales upside along with a solid EBITDA beat. As industry-wide trends soften into Q4, Shake Shack disclosed respectable October comps of +1.3% and low single-digit Q4 guidance.
About SHAK
Shake Shack Inc. is engaged in serving an American menu of Angus beef burgers, crispy chicken, hand-spun milkshakes, house-made lemonades, beer, wine, and more. The Company’s menu focuses on food and beverages, carefully crafted from a range of classic American foods. Its burger categories include ShackBurger, SmokeShack, Shroom Burger (a vegetarian burger), Shack Stack, Avocado Bacon Burger and Hamburger. Its chicken products include Chicken Shack and Chicken Bites. It also offers wines, including Shack Red, Shack White, and Shack Rose. In addition, it serves Abita Root Beer, Shack-made lemonade, organic fresh brewed iced tea, Fifty/Fifty, Honest Kids organic apple juice and Shack2O bottled still and sparkling waters. The Company operates in approximately 570 locations system-wide, including over 370 in 34 U.S. States and the District of Columbia, and over 200 international locations across London, Hong Kong, Shanghai, Singapore, Mexico City, Istanbul, Dubai, Tokyo, Seoul and more.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
