JFrog stock rises as Cantor Fitzgerald maintains Overweight rating after strong Q2
Matthew Eisenacher, the Chief Brand Officer of First Watch Restaurant Group (LON:RTN), Inc. (NASDAQ:FWRG), a nearly $1 billion market cap restaurant chain with over $1 billion in annual revenue, recently sold 4,257 shares of the company’s common stock, amounting to a total value of $71,560. The shares were sold at a price of $16.81 each on March 12, 2025. Following this transaction, Eisenacher retains ownership of 26,649 shares. According to InvestingPro analysis, the stock appears overvalued at current levels.
In a subsequent transaction on March 13, 2025, Eisenacher acquired 21,315 restricted stock units at no cost. These units are set to vest in three equal annual installments starting March 13, 2026, with conditions for earlier forfeiture or acceleration. This acquisition increased Eisenacher’s total holdings to 47,964 shares. The stock has faced significant pressure, declining over 13% in the past week, while trading at a relatively high P/E ratio of 56x.
The sale of shares was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as per First Watch’s policies, and was not a discretionary trade by Eisenacher. For deeper insights into insider trading patterns and comprehensive financial analysis, including 10 additional ProTips, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, First Watch Restaurant Group Inc. reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with earnings per share (EPS) of $0.01, compared to the forecasted $0.0033. The company achieved revenues of $263.3 million, slightly exceeding the projected $263.01 million and marking a 16.8% increase from the previous year. Notably, First Watch opened 50 new restaurants in 2024, with 25 in the fourth quarter, contributing to its revenue growth. The restaurant-level operating margin reached 18.8%, outperforming the consensus estimate of 17%, driven by labor efficiency and reduced expenses.
Benchmark analyst Todd M. Brooks raised the price target for First Watch to $26, maintaining a Buy rating, citing the company’s strong position and improving customer traffic trends. Similarly, BofA Securities increased the price target to $28, reaffirming a Buy rating, highlighting positive same-store traffic growth in January despite some challenges in February due to weather conditions. Jefferies, however, adjusted its price target to $24 from $26, while still endorsing the stock with a Buy rating, noting modest outperformance in EBITDA and margins.
First Watch’s guidance for fiscal year 2025 anticipates low single-digit same-store sales growth and stable customer traffic, with an expected increase after the first quarter. The company plans to open 59 to 64 new system-wide restaurants in 2025, projecting adjusted EBITDA between $124 million and $130 million. Analysts from various firms, including Benchmark, BofA Securities, and Jefferies, maintain optimism about First Watch’s strategic direction and performance potential, despite challenges such as high single-digit commodity inflation.
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