
Cava Group
Founded Year
2010Stage
IPO | IPOTotal Raised
$678.35MDate of IPO
6/15/2023About Cava Group
Cava Group (NYSE: CAVA) operates as a fast-casual restaurant chain. It offers a variety of bowls, salads, pitas, hummus, baba ghanoush, and more. The company was founded in 2010 and is based in Washington, DC.
Expert Collections containing Cava Group
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Cava Group is included in 1 Expert Collection, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
1,221 items
Cava Group Patents
Cava Group has filed 2 patents.
The 3 most popular patent topics include:
- Artificial neural networks
- Data management
- Emoji

Application Date | Grant Date | Title | Related Topics | Status |
---|---|---|---|---|
8/12/2022 | 9/12/2023 | Natural language processing, Computational linguistics, Social networking services, Trees (data structures), Tasks of natural language processing | Grant |
Application Date | 8/12/2022 |
---|---|
Grant Date | 9/12/2023 |
Title | |
Related Topics | Natural language processing, Computational linguistics, Social networking services, Trees (data structures), Tasks of natural language processing |
Status | Grant |
Latest Cava Group News
Sep 15, 2023
Inna Tarasenko/iStock via Getty Images Loop Capital loves Cava Group (NYSE: CAVA ) but not so much the multiple. The firm initiated coverage on the stock with a Hold rating and a price target of $40. Shares are currently down about 4% to approximately $34.60 on Friday. “We are confident Cava Group can reach its targeted domestic unit count of 1,000+ units by 2032, which would imply an over 4x increase from 237 locations at the end of 2022 and a 15%+ CAGR over the next decade,” analyst Alton Stump wrote in a note. However, CAVA is trading at 60x the firm’s 2024 EV/EBITDA estimate, well above the 15-16x FTM EV/EBITDA five-year average for the publicly traded restaurant group. “We believe CAVA deserves to trade at a substantial premium to its peer group average given the company is in the early stages of its unit growth story, has an impressive same-store sales growth profile and possesses a unique Mediterranean-style fast-casual concept. However, we believe these positive attributes are reflected in the company’s current valuation.” Nice work, Cava The firm notes that 15% to 20% of total restaurant locations were forced to close permanently since the start of the pandemic, representing a substantial opportunity for larger multi-regional and national chains such as CAVA to gain share. Furthermore, the labor market has eased significantly in 2023 and is expected to continue to do so over the next 12 to 18 months, which should help enable CAVA’s openings to accelerate. CAVA went public this year, among the first after a drought of IPOs. This week, Arm Holdings ( ARM ), the British chip designer, went public, with shares jumping almost 25% in its market debut on Thursday. Grocery delivery app Instacart ( CART ) on Friday boosted the range for its IPO to $28 to $30 and now may raise as much as $660 million in the offering following the success of ARM’s transaction. The grocery delivery and pickup raised the expected range from $26 to $28. In June, when CAVA opened for trading, shares jumped from an IPO price of $22 to $42. The stock rose to as high as $58.10 in July. Loop noted that the Mediterranean chain’s sales were hit like all others at the start of the Covid-19 pandemic, and have recovered, up 45% in 2021 and 14% in 2022. During the first half of 2023, CAVA’s same-store sales reaccelerated to growth of 28% in 1Q23 and 18% in 2Q23. CAVA has four Strong Buy ratings from Wall Street analysts, two Buys and two Holds.
Cava Group Frequently Asked Questions (FAQ)
When was Cava Group founded?
Cava Group was founded in 2010.
Where is Cava Group's headquarters?
Cava Group's headquarters is located at 702 H Street NW, Washington.
What is Cava Group's latest funding round?
Cava Group's latest funding round is IPO.
How much did Cava Group raise?
Cava Group raised a total of $678.35M.
Who are the investors of Cava Group?
Investors of Cava Group include SWaN & Legend Ventures, Revolution, Invus Group, Mousse Partners, Declaration Partners and 5 more.