Key Takeaways CAVA posted 9.7% same-restaurant sales growth in Q1 FY26, powered by 6.8% guest traffic gains.Digital revenue mix hit 39.9% as pickup, delivery and a separate make line support throughput and access.CAVA opened 20 net new restaurants to 459; FY26 openings raised to 75-77. CAVA Group (CAVA - Free Report) is leaning into a straightforward growth playbook: drive more visits, broaden access through digital, and keep opening restaurants at a steady pace. First-quarter fiscal 2026 results showed that the approach is working, with demand led by traffic and supported by measured pricing.
CAVA also raised its full-year fiscal 2026 outlook across key metrics, pointing to confidence in underlying demand and unit economics even as management builds in moderation later in the year.
CAVA Leads With Traffic, Not PriceIn first-quarter fiscal 2026, same-restaurant sales increased 9.7%, driven primarily by 6.8% guest traffic growth. The remaining 2.9% came from menu price and product mix, underscoring that visits, not pricing, did the heavy lifting.
Management characterized its pricing posture as measured. The company cited an approximately 1.4% price increase in January while keeping base bowl and pita pricing flat. That positioning can protect frequency by keeping core entry points stable, while allowing check growth to come through mix and innovation over time.
CAVA Group’s Menu Innovation Keeps Visits RisingMenu news remains a central lever for sustaining engagement. During the quarter, CAVA brought back roasted white sweet potato as a seasonal item and highlighted strong feedback alongside higher visit frequency, including from guests new to the brand.
CAVA also launched its first seafood offering, Pomegranate-Glazed Salmon, across all restaurants nationwide. The company positioned the item as a natural extension of its Mediterranean menu, expanding choice without drifting from the concept.
The broader message is that innovation is being used to lift traffic and support check growth without relying on broad discounting. That can be particularly valuable in a competitive environment where peers may lean into promotions. Chipotle Mexican Grill, Inc. (CMG - Free Report) and Sweetgreen, Inc. (SG - Free Report) have also used menu updates and convenience-focused ordering to keep customers engaged, making consistent innovation a key competitive battleground in fast casual.
CAVA’s Digital Mix Deepens Access and LoyaltyDigital continues to be a meaningful share of the business. Digital revenue mix was 39.9% in first-quarter 2026, reinforcing that a large portion of demand already comes through digital channels.
Management also pointed to digital-led engagement initiatives aimed at deepening relationships with guests as the restaurant base grows. Over time, a scaled digital channel can support convenience, throughput, and more consistent access across dayparts and occasions.
That matters because digital ordering and third-party delivery expand how guests interact with the brand. CAVA has also designed restaurants with multiple access points, including digital pick-up, and includes a separate digital make line intended to maximize throughput. As digital engagement rises, the model is set up to serve those orders without forcing trade-offs in in-restaurant execution.
CAVA Group Builds Scale With New Restaurant MomentumUnit growth is a core engine of the story. CAVA opened 20 net new restaurants in first-quarter fiscal 2026 and ended the quarter with 459 locations, up 20.2% year over year.
Management raised fiscal 2026 net new opening guidance to 75-77, keeping the development plan moving forward while the footprint expands into newer markets. A sustained opening cadence supports multi-year revenue growth even if same-restaurant sales moderate as comparisons tighten.
The company also noted that new restaurant productivity in the first quarter trended above 100%, with openings exceeding expectations on both top-line and margin performance. Early strength like that can reinforce reinvestment as the chain scales across existing and new markets.
CAVA’s Unit Economics Fund the FlywheelCAVA’s store-level profitability provides the capacity to keep investing. In first-quarter fiscal 2026, the company generated $108.9 million of restaurant-level profit on $434.4 million of CAVA revenues.
Profitability held steady even as higher costs tied to a greater mix of third-party delivery and incremental wage investments were absorbed, with leverage from higher sales helping offset pressures. Average unit volume increased to $3.0 million versus $2.9 million in the prior-year quarter, supporting continued unit development as the base expands.
Looking ahead, management’s fiscal 2026 restaurant-level profit margin outlook of 23.7%-24.3% reflects ongoing investment in the operating model while sustaining store-level profitability as the footprint scales.
CAVA Group’s 2026 Outlook Signals Demand ConfidenceManagement raised full-year fiscal 2026 guidance to 4.5%-6.5% same-restaurant sales growth and $181-$191 million of Adjusted EBITDA. It also reiterated that second-quarter trends are tracking in line with the first quarter and above the revised full-year range, while still embedding moderation later in the year.
That setup frames a constructive near-term trajectory driven by traffic-led demand, disciplined unit growth, and sustained digital engagement. For investors who follow Zacks’ signals, CAVA currently carries a Zacks Rank #3 (Hold).
CAVA’s Key Risks to Watch From HereSeveral swing factors could pressure margins or damp demand. Management expects an estimated 100 basis-point margin-rate drag from the national salmon rollout beginning in the second quarter, creating a mix headwind even as the offering broadens the menu.
The company also flagged elevated energy costs, including a 20-40 basis-point buffer, which can weigh on restaurant-level leverage. Finally, macroeconomic and geopolitical uncertainty remains an overhang, especially in a highly competitive restaurant landscape where discounting could intensify.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways CAVA trades at 5.15x forward sales vs 3.2x sub-industry; below its 2-year median 7.5x.CAVA Q1 EPS $0.20 on $0.44B revenue; FY26 comps raised to 4.5%-6.5% and EBITDA to $181-$191M.CAVA flags ~100 bp margin drag from salmon rollout, plus 20-40 bp energy buffer; no 2026 price hikes planned. CAVA Group (CAVA - Free Report) is putting up strong, traffic-led results while expanding its footprint at a brisk pace. That combination often earns premium valuation in restaurants, and CAVA is no exception.
The setup now comes down to whether the operating momentum and raised fiscal 2026 outlook can offset the margin headwinds management is already flagging. At roughly 5x sales, execution matters.
CAVA Trades Rich Versus the Sub-IndustryCAVA is currently trading at 5.15x forward 12-month sales, versus 3.2x for the Zacks sub-industry. The premium signals that investors are paying up for a growth profile that blends traffic momentum with unit expansion and solid store-level economics.
It also helps to frame where today’s multiple sits within CAVA’s own history. Over the past two years, the stock has traded as high as 15.11x sales and as low as 3.63x, with a two-year median of 7.5x. Today’s level is below that median, but still above the broader peer set, which leaves valuation sensitive to any change in demand or margin expectations.
CAVA Group’s Price Target and What It ImpliesCAVA’s shares carry a $75 price target that reflects 5.41x forward 12-month sales. The math behind that target is effectively a bet that CAVA can keep building scale without losing the attributes that are driving demand and profitability today.
What has to go right is fairly clear based on recent performance. Demand needs to remain healthy, new restaurants need to continue to open on plan, and restaurant-level profitability needs to stay resilient even as the company invests in the operating model. Management’s decision to raise fiscal 2026 guidance across same-restaurant sales, net new openings and Adjusted EBITDA reinforces that confidence, but the margin bridge still has real moving parts.
CAVA’s Hold Rating and Style Score SnapshotCAVA currently has a Zacks Rank #3 (Hold). That rating aligns with a view that near-term performance may track more in line with the broader market rather than signaling a clear short-horizon advantage.
The Style Scores show why the stock can screen well for some factors but not others. CAVA has a VGM Score of B, with Value at F, Growth at A and Momentum at A. In plain terms, the factor posture leans toward growth and momentum rather than valuation support, which fits a stock trading at a premium to the sub-industry.
CAVA Group’s Beat-and-Raise Quarter in ContextCAVA delivered first-quarter fiscal 2026 earnings of $0.20 per share, down 9.1% year over year but ahead of the Zacks Consensus Estimate of $0.17. Total revenues rose 32.1% to $0.44 billion, topping the consensus mark of $0.42 billion.
The demand engine behind the beat is also important. Same-restaurant sales increased 9.7% in the quarter, including guest traffic growth of 6.8%. Those fundamentals supported management’s decision to raise fiscal 2026 guidance for same-restaurant sales growth to 4.5%-6.5% and Adjusted EBITDA to $181-$191 million.
CAVA’s Margin Bridge: What Helped, What HurtCAVA’s restaurant-level profit margin was 25.1% in the first quarter, flat year over year, even as the company absorbed incremental wage investments and a higher mix of third-party delivery. Management noted that leverage from higher sales helped offset those pressures, keeping store-level profitability stable.
On the cost lines, food, beverage and packaging were 29.1% of CAVA revenues, down 20 basis points versus the prior-year quarter, largely due to favorable mix. Labor and related costs were 25.7% of revenues, approximately flat year over year, as sales leverage was offset by a 2% wage investment, including expansion of the Assistant General Manager role.
The trade-off is that a higher mix of third-party delivery can lift operating expense rates and reduce incremental margin flow-through, even if it supports demand. That balance will matter more as CAVA’s digital channels continue to scale.
CAVA Group’s 2026 Headwinds That Can Reprice the StockManagement expects incremental cost pressures, including a 20-40 basis-point buffer for elevated energy costs. It also expects an approximate 100 basis-point margin-rate drag tied to the national salmon rollout beginning in the second quarter of fiscal 2026.
Just as important, management reiterated it does not plan to take additional price increases in 2026 beyond the January menu adjustment. That value stance can support traffic, but it raises the bar for absorbing inflation through mix, labor productivity and operating discipline.
CAVA’s Balance Sheet and Cash Flow FlexibilityCAVA generated net cash provided by operating activities of $64.1 million in the first quarter. Capital spending remained elevated, with purchases of property and equipment of $48.6 million, resulting in free cash flow of $15.5 million.
Liquidity also remains ample, with $295.8 million of cash and cash equivalents and $107.2 million of investments, plus access to a $150 million revolving credit facility. That flexibility supports near-term expansion, which is central to the growth thesis.
In the broader restaurant peer set, Chipotle Mexican Grill, Inc. (CMG - Free Report) carries a Zacks Rank #3 (Hold), while Shake Shack, Inc. (SHAK - Free Report) has a Zacks Rank #4 (Sell). For CAVA, sustaining premium valuation will likely require continued demand strength alongside disciplined cost absorption as those fiscal 2026 headwinds move through the income statement.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways CAVA launched CavaCore in 2026 and CAVA Current to unify data and speed store-level actions.CAVA's digital mix hit 39.9% in Q1; Digital Kitchens add delivery and catering capacity in select markets.CAVA Q1 FY26 comps rose 9.7% on 6.8% traffic; delivery mix and salmon rollout are set to weigh on margins. CAVA Group (CAVA - Free Report) has been leaning on strong traffic momentum, disciplined pricing and broad consumer appeal across income cohorts. Digital ordering and third-party delivery are supporting guest frequency, while menu innovation is keeping engagement high. New restaurants are also performing strongly across markets, reinforcing the long-term unit-growth opportunity.
For investors, the setup now hinges on whether CAVA can keep execution tight as it scales. The company carries a Zacks Rank #3 (Hold) at present, and its operating technology initiatives look increasingly tied to protecting consistency while the footprint expands.
CAVA’s CavaCore Sets Up Data at ScaleCAVA launched CavaCore earlier in 2026 as a modern data platform intended to create a unified, scalable foundation for how it manages and uses data. The stated objective is to enable faster execution across the business as it grows.
Management also positioned CavaCore as an infrastructure that can help the company leverage emerging artificial intelligence capabilities over time. The key point is structural. A single, scalable data layer can reduce friction when CAVA wants to standardize processes and accelerate decisions across hundreds of restaurants.
CAVA Group’s CAVA Current Aims for Faster Store ActionsCAVA Current is live and processing orders, with the platform designed to improve visibility. That visibility is meant to support faster, more localized actions across restaurants as the chain scales.
As unit count climbs across existing and new markets, the operating burden shifts from opening restaurants to running them consistently. Systems that translate demand signals into clearer store-level actions can help sustain service speed and decision-making discipline as the footprint becomes more complex.
CAVA’s Digital Kitchens Expand Off-Premise CapacityCAVA restaurants are designed to support multiple access points, including walk-the-line ordering and digital pick-up, and each location includes a separate digital make line to maximize throughput. In select markets, the company also operates Digital Kitchens to support third-party marketplace and native delivery, digital pick-up and centralized catering production.
Digital is already a meaningful part of the business. Digital revenue mix was 39.9% in the first quarter of fiscal 2026, showing that a large share of demand is transacting through digital channels. As off-premise expands, Digital Kitchens can act as a pressure valve, adding capacity for delivery and catering without forcing every restaurant to absorb the same operational complexity.
CAVA Group’s Supply Chain Is Built for 750 StoresCAVA has invested in vertically integrated manufacturing and a directly sourced supply chain with more than 50 grower, rancher and producer partners. This structure supports the restaurant system and the consumer packaged goods business, which sits within CAVA Foods.
The production footprint includes a 30,000-square-foot facility in Laurel, MD, a 55,000-square-foot facility in Verona, VA, and a 4,000-square-foot distribution facility in Edison, NJ, used primarily for consumer packaged goods distribution in the Northeast. The company has also signed a lease to expand the Laurel facility by an additional 20,000 square feet.
Management expects its production facilities to support at least 750 restaurants plus the consumer packaged goods business, with additional capacity development planned over time. That capacity signal matters because it indicates the supply chain is being built to stay ahead of unit growth rather than reacting after constraints appear.
CAVA’s Growth Loop: Tech, Throughput and New UnitsUnit expansion remains a core growth engine. CAVA opened 20 net new restaurants in the first quarter of fiscal 2026 and ended the quarter with 459 restaurants, up 20.2% year over year. Management raised full-year fiscal 2026 net new opening guidance to 75-77, keeping development moving forward as the footprint pushes into newer markets.
The operating model is also producing a profit base that can fund reinvestment. In the first quarter, CAVA generated $108.9 million of restaurant-level profit on $434.4 million of revenues, while average unit volume increased to $3.0 million from $2.9 million in the prior-year quarter. Over time, management’s technology investments are intended to help maintain consistent execution as those volumes and unit counts climb.
CAVA Group’s Trade-Offs as Digital and Delivery RiseScaling digital and delivery is not free. In the first quarter of fiscal 2026, other operating expenses rose to 13.3% of revenues, up 80 basis points year over year, primarily due to a higher mix of third-party delivery. Even if digital channels are managed for dollar contribution, a higher delivery mix can lift operating expense rates and reduce incremental margin flow-through as the store base expands.
CAVA is also absorbing incremental cost headwinds. Management expects a 20-40 basis point buffer for elevated energy costs and an expected 100 basis point margin-rate drag from the national salmon rollout beginning in the fiscal second quarter. With no additional price increases planned in 2026 beyond the January adjustment, the cost discipline around channel mix becomes more important.
CAVA: What to Track Next Quarter?First, watch whether comps remain traffic-led. In the first quarter of fiscal 2026, same-restaurant sales increased 9.7%, with 6.8% driven by guest traffic and 2.9% tied to menu price and product mix. Sustained traffic momentum would reinforce the durability of demand as comparisons tighten.
Second, track delivery mix and the expense line tied to it. The company has already flagged how third-party delivery can pressure operating expense rates and reduce incremental margin flow-through, so investors should monitor whether that dynamic accelerates as digital grows.
Third, follow how the salmon rollout flows through margins as it ramps. Management highlighted a margin-rate drag beginning in the second quarter, making mix and cost absorption key swing factors. For context, peers such as Chipotle Mexican Grill, Inc. (CMG - Free Report) and Sweetgreen, Inc. (SG - Free Report) also carry a Zacks Rank #3 each, underscoring how execution and cost control can separate operators even in a competitive restaurant environment.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cava CEO Brett Schulman sits down with Yahoo Finance Executive Editor Brian Sozzi and reveals how CAVA leverages AI camera tech and a viral "Love Button" to ensure generous portion sizes that directly challenge their competitors. Timestamps 00:00 Inside Cava 00:58 From 1 to 460 locations 02:20 The origins of Cava 04:15 Leaving Wall Street 05:25 Near-death business moments 07:00 The Zoës Kitchen acquisition 07:55 Lessons from Ron Shaich 09:20 Scaling to 1,000 locations 10:00 Betting on yourself 12:15 Advice for entrepreneurs 13:20 Scaling the Cava model 15:00 Reinventing the restaurant 18:35 Technology and hospitality 20:22 The Cava "Love Button" 23:00 Building food at scale 27:40 GLP-1s and dining habits 29:45 Life as a public CEO #entrepreneurship #fastcasual #businessgrowth #powerplayers #yahoofinance == AlphaSpace by Yahoo Finance: A Professional-Grade Investment Platform Built for Everyday Investors.
New “Flavor Your Future” Platform expands career opportunities by investing in internal growth, leadership development, and community job creation
WASHINGTON--(BUSINESS WIRE)--CAVA (NYSE: CAVA), today announced a significant expansion of its workforce and career development initiatives as part of its ongoing commitment to build meaningful, long-term careers in Mediterranean hospitality through its new Flavor Your Future platform.
CAVA is doubling down on creating clear pathways for growth, investing in leadership development, and expanding opportunities for team members across the country. In 2026, the company plans to hire more than 2,500 new team members while expecting to open over 75 new restaurants, bringing purposeful job opportunities to the communities it serves.
"The most rewarding part of our growth is seeing our team members grow alongside the company," said Kelly Costanza, Chief People Officer at CAVA. “Whether someone is stepping into a leadership role or just getting started, we want CAVA to be a place where they can build a future they're proud of."
New Roles Designed for Growth
A key milestone within the “Flavor Your Future” platform is the recent launch of CAVA’s new Assistant General Manager (AGM) role, designed to build a deeper bench of role-ready leaders to support the company’s rapid growth. The company set out to fill more than 150 AGM roles this year and has already surpassed this goal. This added layer of leadership will strengthen day-to-day operations, accelerate the development of future leaders, and help build more sustainable restaurant teams over time.
Investing in Growth from Within
CAVA continues to prioritize internal mobility and leadership development:
3,500+ restaurant team members celebrated advancements and promotions in 2025. 60% of Assistant General Managers (AGMs) have been promoted from within since the role launched in December 2025. CAVA is expanding how it recognizes and rewards its leaders through new performance and equity-based incentives. In addition, all General Managers are now eligible for long-term incentive (LTI) equity grants, giving them a direct stake in the company’s success, while additional incentives tied to GM hiring and promotion performance further align leadership growth with overall business impact.
“We’re in an exciting season of growth at CAVA as we continue expanding our Mediterranean way to more guests and communities across the country,” said Doug Thompson, Chief Operating Officer at CAVA. “Our company's growth is only possible with our team members' growth. Through meaningful opportunities to develop, lead and build lasting careers, investing in our people isn’t separate from our success -- it’s what drives it.”
Benefits That Go Beyond the Workplace
From the very beginning, CAVA has been about more than just great food and a warm, welcoming experience. Founded by entrepreneurs who grew up around restaurants and experienced firsthand both the opportunities and challenges of the industry, CAVA was built on the belief that taking care of team members is just as important as taking care of guests. Whether watching their parents navigate restaurant work, working in restaurants themselves to help pay for college, or earning money to open the first CAVA Mezze restaurant, our founders saw the impact that strong support, opportunity, and care can have on people’s lives. Those early experiences continue to shape CAVA’s people-first culture and commitment to creating real opportunities for growth across the organization, and benefits offered that center on investing in the whole person:
Healthcare coverage, including medical, dental, vision, and telemedicine for eligible team members Financial wellbeing support through bonus opportunities, a 401(k) plan after 60 days of service with company match after a year of service, employee stock purchase plan, and early wage access Education support, including tuition discounts for undergraduate and graduate programs Family-focused benefits such as paid parental and bereavement leave, employee assistance programs, and legal and identity protection services Wellness offerings that include mental health support for all employees and their families Everyday perks like commuter benefits, pet insurance, and free or discounted meals during shifts New Multichannel Storytelling Series
As part of the initiative, CAVA is launching a new Flavor Your Future marketing effort featuring real stories from team members across the organization, showcasing the many ways careers can grow and evolve at CAVA. The campaign will come to life across social, digital, and owned channels throughout the year. To learn more, and stay up to date on CAVA’s open positions, please visit cava.com/careers and follow @CAVA on social channels, including TikTok, Instagram, LinkedIn, and Facebook.
About CAVA
CAVA is the category-defining Mediterranean fast-casual restaurant brand, bringing together healthful food and bold, satisfying flavors at scale. Our brand and our opportunity transcend the Mediterranean category to compete in the large and growing limited-service restaurant sector as well as the health and wellness food category. CAVA serves guests across age groups, genders, and income brackets and benefits from generational tailwinds created by consumer demand for healthy living and a demographic shift towards greater ethnic diversity. We meet consumers’ desires to engage with convenient, authentic, purpose-driven brands that view food as a source of self-expression. The broad appeal of our food combined with these favorable industry trends drive our vast opportunity for continued growth.
Pre-Market Stock Futures: Futures are trading lower after the stock market tried to take a cue from Monday’s action, and things didn’t work out quite as well on Tuesday. Once again, the market gapped open higher as the “Buy the dip” legions came in to ride what they thought would be another wave higher, only to once again see the gains reversed. This time, Monday’s pattern repeated, but the damage was greater: two of the four major indices closed lower, with the Dow Jones Industrial Average, which was the only index to close lower on Monday, finishing the session higher at 50,871, up 0.17%. The small-cap-heavy Russell 2000 closed the day at 2,864, up 0.32%. The Nasdaq finished the day down 0.97% at 25,678, while the S&P 500 was last seen down 0.26% at 7,386.
Treasury Bonds: Yields were down across the Treasury curve, as every time the long end gets over the 5% levels, and the 10-year trades above 4.50%, the buyers return. Part of this is a yield play, but another big factor is adding some insurance, and many see an inevitable big decline coming our way. Either way, when the dust settled on Tuesday, the 30-year-long bond closed the day at 5.01%, while the benchmark 10-year note was last seen at 4.53%. Today’s report on the Consumer Price Index for May and Thursday’s Producer Price Index print could shape how the bond market trades for the rest of the second quarter.
Oil and Gas: Oil prices were down across the board on Tuesday, as hopes for an end to the war with Iran surged on positive comments from the president, plus reports indicating that traffic in the Strait of Hormuz has increased, all of which added to the selling pressure, which Americans are cheering as the busy summer driving season is underway. Brent Crude closed the day at $91.65, down 2.75%, while West Texas Intermediate was last seen at $88.51, down 3.06%. The final trade for Natural Gas was reported at $3.14, down 3.o2%.
Gold: The precious metals had a tough day, as trading remained range-bound for both Gold and Silver. This comes as Paul Wong, Sprott’s market strategist, reminded investors that rising debt and inflation will remain the wind in the sails of the precious metals complex, which, as we have noted, has traded range-bound since late February. Gold closed Tuesday’s session at $4,259, down 1.61%, while the last trade for Silver was reported at $65.21, down a whopping 4.08%.
Crypto: Cryptocurrency markets declined on Tuesday, with Bitcoin trading near $62,500 after posting a roughly 1% loss over the past 24 hours. The broader digital asset market stayed under selling pressure as investors digested ongoing ETF outflows. Mid-week trading showed disappointing momentum, with crypto largely decoupling from a global rally in risk assets, which has run into a wall over the last two days. Although geopolitical tensions appeared to ease, concerns lingered about the prolonged streak of outflows from U.S. spot Bitcoin ETFs. At 8 AM EDT, Bitcoin traded at $62,030, while Ethereum traded at $1,659.
24/7 Wall St. reviews dozens of analyst research reports daily to identify new investment ideas for both investors and traders. Some of these daily analyst calls cover stocks to buy. Other calls cover stocks to sell or avoid. Remember that no single analyst call should ever be used as a basis to buy or sell a stock.
Here are some of the top Wall Street analyst upgrades, downgrades, and initiations seen on Wednesday, June 10, 2026.
Upgrades:
Cava Group (NYSE: CAVA | CAVA Price Prediction) was upgraded to Buy from Neutral at UBS, which bumped the target price for the stock to $90 from $85. Entergy (NYSE: ETR) was upgraded to Outperform from In Line at Evercore ISI, which raised the target price for the utility giant to $121 from $115. GlobalFoundries (NASDAQ: GFS) was upgraded to Buy from Neutral at Arete, without a target price. Pfizer (NYSE: PFE) was upgraded to Sector Perform from Underperform at RBC Capital, with a $25 target price. STMicroelectronics (NYSE: STM) was raised to Buy from Neutral at Bank of America, which raised the target price for the shares to $100 from $83. Downgrades:
BILL Holdings (NYSE: BILL) was cut to Hold from Buy at Truist, which dropped the target price for the stock to $35 from $45 Hess Midstream (NYSE: HESM) was cut to Underweight from Equal Weight at Morgan Stanley, which has a $38 target price. Nike (NYSE: NKE) was downgraded to Sector Perform from Outperform at RBC Capital, which cut the target price for the sports apparel and shoe giant to $50 from $70. Nuvalent (NASDAQ: NUVL) was downgraded to Hold from Buy at TD Cowen, which dropped the target price for the share to $124 from $140. Taylor Morrison (NYSE: TMHC) was downgraded to Peer Perform from Outperform at Wolfe Research, with a $72.50 target price. That is the amount Berkshire Hathaway is paying to acquire the company. Initiations: 3M Company (NYSE: MMM) was initiated with an Underperform rating at Bernstein, with a $131 target price. Honeywell International (NYSE: HON) was started with a Market Perform rating at Berstein, with a $233 target price. Power Integrations (NASDAQ: POWI) was started with a Buy rating at Needham, with a $90 target price objective. SharkNinja (NYSE: SN) was initiated with an Overweight rating at Piper Sandler, with a $150 target price. Vertiv Holdings (NYSE: VRT) was started with an Outperform rating at Bernstein, and has a $416 target price for the stock.
CAVA Group Inc (NYSE:CAVA) is up 2.2% at $77.99 in premarket trading, after UBS upgraded the Mediterranean restaurant chain to "buy" from "neutral" and lifted its price target to $90 from $85. The brokerage pointed to strong sales trends, accelerating unit growth, and an attractive risk/reward setup following the stock's recent pullback.
The upgrade arrives as CAVA attempts to build on its recent rebound. Shares are up nearly 30% in 2026, though they remain well below their April 21 annual high of $98.79. The equity has added more than 5% over the last week, and today's premarket move has it eyeing a fifth-straight gain.
Analyst sentiment leans bullish heading into today. Of the 30 brokerages in coverage, 18 carry a "buy" or better rating, while 12 sport a "hold" or worse.
Options traders have leaned bearish toward CAVA stock. The security's Schaeffer's put/call open interest ratio (SOIR) of 1.52 ranks higher than 98% of readings from the past year, showing short-term options traders are more put-heavy than usual. Meanwhile, short interest accounts for 12.2% of the stock's available float, leaving plenty of room for short-covering activity should the shares continue higher.
The options pits are pricing in relatively low volatility expectations, too, per CAVA's Schaeffer's Volatility Index (SVI) of 57%, which sits in the 22nd percentile of its annual range. The stock's Schaeffer's Volatility Scorecard (SVS) of 93 out of 100 indicates it has consistently exceeded those expectations during the past year.
CAVA Group (NYSE:CAVA) shares were upgraded to Buy by UBS, which cited the Mediterranean fast-casual chain's same-store sales resilience, unit expansion potential, and an improved risk/reward following a pullback in shares since April.
"CAVA remains a compelling growth story, which is increasingly scarce in the sector in the current environment," UBS analysts wrote, pointing to differentiated menu offerings, multiple sales catalysts, and healthy new unit returns as key supports for a premium valuation.
UBS models upside to CAVA's 2026 same-store sales guidance of 4.5% to 6.5%, with traffic-driven momentum holding up despite a difficult macro backdrop. The firm sees potential upside to consensus estimates of approximately 7% same-store sales growth in 2026 and roughly 4% annually from 2027 through 2029.
Drivers include CAVA's appeal to health-conscious consumers, a pipeline of menu innovation and limited-time offerings, marketing investments to build brand awareness, digital and loyalty program contributions, and operational improvements tied to technology initiatives, labor investments, and the Project Soul new restaurant design rollout. UBS Evidence Lab data was cited as supporting the sustainability of same-store sales momentum at or above the company's long-term growth algorithm.
The new $90 target implies roughly 38x next-twelve-months EBITDA, up from the prior 36x multiple, reflecting UBS's expectation of 20%-plus revenue growth and 25%-plus EBITDA growth in the coming years.
UBS modeled 17.5% unit growth in 2026 and a 16% three-year unit CAGR through 2029, underpinned by cash-on-cash returns above 40% at year two, strong new store performance across both newer and existing markets, and significant whitespace. The firm sees potential upside to CAVA's target of 1,000 units by 2032, supported by growing brand awareness in new markets and investments in developing a pipeline of leaders to support new store operations.
UBS said CAVA's premium valuation is justified given a clear path to industry-leading EBITDA growth, and that sustained outsized growth, without the overhang concerns affecting select peers, should support a re-rating of shares higher.
CAVA Group (NYSE:CAVA) shares were upgraded to Buy by UBS, which cited the Mediterranean fast-casual chain's same-store sales resilience, unit expansion potential, and an improved risk/reward following a pullback in shares since April.
"CAVA remains a compelling growth story, which is increasingly scarce in the sector in the current environment," UBS analysts wrote, pointing to differentiated menu offerings, multiple sales catalysts, and healthy new unit returns as key supports for a premium valuation.
UBS models upside to CAVA's 2026 same-store sales guidance of 4.5% to 6.5%, with traffic-driven momentum holding up despite a difficult macro backdrop. The firm sees potential upside to consensus estimates of approximately 7% same-store sales growth in 2026 and roughly 4% annually from 2027 through 2029.
Drivers include CAVA's appeal to health-conscious consumers, a pipeline of menu innovation and limited-time offerings, marketing investments to build brand awareness, digital and loyalty program contributions, and operational improvements tied to technology initiatives, labor investments, and the Project Soul new restaurant design rollout. UBS Evidence Lab data was cited as supporting the sustainability of same-store sales momentum at or above the company's long-term growth algorithm.
The new $90 target implies roughly 38x next-twelve-months EBITDA, up from the prior 36x multiple, reflecting UBS's expectation of 20%-plus revenue growth and 25%-plus EBITDA growth in the coming years.
UBS modeled 17.5% unit growth in 2026 and a 16% three-year unit CAGR through 2029, underpinned by cash-on-cash returns above 40% at year two, strong new store performance across both newer and existing markets, and significant whitespace. The firm sees potential upside to CAVA's target of 1,000 units by 2032, supported by growing brand awareness in new markets and investments in developing a pipeline of leaders to support new store operations.
UBS said CAVA's premium valuation is justified given a clear path to industry-leading EBITDA growth, and that sustained outsized growth, without the overhang concerns affecting select peers, should support a re-rating of shares higher.
Cava Group (CAVA - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Shares of this Mediterranean restaurant chain have returned +12.8% over the past month versus the Zacks S&P 500 composite's -1.6% change. The Zacks Retail - Restaurants industry, to which Cava belongs, has lost 0.8% over this period. Now the key question is: Where could the stock be headed in the near term?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
For the current quarter, Cava is expected to post earnings of $0.17 per share, indicating a change of +6.3% from the year-ago quarter. The Zacks Consensus Estimate has changed +8.5% over the last 30 days.
The consensus earnings estimate of $0.55 for the current fiscal year indicates a year-over-year change of +1.9%. This estimate has changed +4.8% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $0.71 indicates a change of +30.2% from what Cava is expected to report a year ago. Over the past month, the estimate has changed +3.9%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Cava.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastWhile earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Cava, the consensus sales estimate for the current quarter of $353.73 million indicates a year-over-year change of +26.1%. For the current and next fiscal years, $1.49 billion and $1.78 billion estimates indicate +26.2% and +19.5% changes, respectively.
Last Reported Results and Surprise HistoryCava reported revenues of $438.27 million in the last reported quarter, representing a year-over-year change of +32.1%. EPS of $0.2 for the same period compares with $0.22 a year ago.
Compared to the Zacks Consensus Estimate of $419.46 million, the reported revenues represent a surprise of +4.49%. The EPS surprise was +17.65%.
Over the last four quarters, Cava surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.
ValuationWithout considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Cava is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom LineThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Cava. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
Key Takeaways CAVA now expects to open 75-77 net new restaurants in FY26, up from prior guidance.CAVA opened 20 net new restaurants in Q1, expanding to 459 locations across 29 states and D.C.CAVA's 2026 restaurant cohort is tracking in line with or ahead of its strong 2025 class. CAVA Group, Inc. (CAVA - Free Report) is raising its restaurant opening target as new units continue to deliver strong early productivity. The company now expects to open 75-77 net new CAVA restaurants in fiscal 2026, up from its prior outlook of 74-76, signaling confidence in its development pipeline and long-term expansion opportunity.
In the first quarter of fiscal 2026, CAVA opened 20 net new restaurants, ending the period with 459 restaurants across 29 states and Washington, D.C. The restaurant base increased 20.2% year over year, reflecting continued progress in national expansion. During the quarter, the company reported new market openings in Cincinnati, St. Louis and Columbus and stated plans to open in Minneapolis later this year.
CAVA’s growth momentum is being supported by strong new-unit economics. The company said its 2026 restaurant cohort is tracking in line with or ahead of the strength of its 2025 class, with first-quarter new restaurant productivity trending above 100%. Management also noted that new openings continue to exceed expectations in both top-line and margin performance, while systemwide AUVs reached approximately $3 million.
Management indicated that results remain strong across geographies, formats and market types, suggesting that the concept continues to resonate beyond its more established markets. The 2025 vintage is also performing similarly to the 2024 class, indicating that recent cohorts are holding up well as they mature into the comp base.
For CAVA, the raised opening outlook strengthens the case that growth momentum can continue, supported by strong new-unit productivity, broad market acceptance and healthy cohort performance. The consistency of recent restaurant classes suggests that the company’s development model remains fundamentally sound as it expands into new markets. If execution holds as the restaurant base scales, CAVA’s unit-growth runway could remain a key driver of growth.
How CAVA Stacks Up Against CMG and SHAKChipotle Mexican Grill, Inc. (CMG - Free Report) remains a larger-scale development benchmark. In the first quarter of 2026, Chipotle opened 49 restaurants, including 42 Chipotlanes and remains on track to open around 350 restaurants for the full year, with roughly 80% including a Chipotlane. Chipotle’s long-term target of 7,000 restaurants underscores the scale advantage it still holds, but CAVA’s smaller base gives it a longer runway for percentage-based unit growth.
Shake Shack Inc. (SHAK - Free Report) is also accelerating development. In the first quarter of 2026, Shake Shack opened 17 company-operated Shacks, its largest first-quarter opening count, and raised its 2026 company-operated opening outlook to 60-65 units from the prior 55-60 range. Shake Shack’s development cadence reflects strong growth ambition, though CAVA’s above-100% new restaurant productivity gives its unit-growth story an important efficiency component.
Compared with CMG’s mature large-scale expansion model and SHAK’s accelerating company-operated development, CAVA’s growth story stands out for the combination of a smaller restaurant base, raised opening guidance and strong new-unit productivity. With recent cohorts performing well, CAVA’s ability to scale while preserving unit economics remains central to its long-term growth narrative.
CAVA’s Price Performance, Valuation & EstimatesCAVA’s shares have gained 6.1% in the past year against the industry’s 10% growth.
CAVA’s One-Year Price Performance
Image Source: Zacks Investment Research
From a valuation standpoint, CAVA trades at a forward price-to-sales (P/S) multiple of 5.87, above the industry’s average of 3.25.
CAVA’s P/S Ratio (Forward 12-Month) vs. Industry
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for CAVA’s fiscal 2026 earnings implies a year-over-year increase of 1.9%. The EPS estimates for fiscal 2026 have increased in the past 30 days.
EPS Trend of CAVA Stock
Image Source: Zacks Investment Research
CAVA stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
From a technical perspective, Cava Group (CAVA - Free Report) is looking like an interesting pick, as it just reached a key level of support. CAVA recently overtook the 20-day moving average, and this suggests a short-term bullish trend.
A well-liked tool among traders, the 20-day simple moving average offers a look back at a stock's price over a 20-day period. This is very beneficial to short-term traders, as it smooths out short-term price trends and gives more trend reversal signals than longer-term moving averages.
Like other SMAs, if a stock's price is moving above the 20-day, the trend is considered positive. When the price falls below the moving average, it can signal a downward trend.
Over the past four weeks, CAVA has gained 12.8%. The company is currently ranked a Zacks Rank #3 (Hold), another strong indication the stock could move even higher.
The bullish case only gets stronger once investors take into account CAVA's positive earnings estimate revisions. There have been 8 revisions higher for the current fiscal year compared to none lower, and the consensus estimate has moved up as well.
With a winning combination of earnings estimate revisions and hitting a key technical level, investors should keep their eye on CAVA for more gains in the near future.
NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of CleanCore Solutions, Inc. (NYSE American: ZONE) resulting from allegations that CleanCore Solutions, Inc. may have issued materially misleading business information to the investing public.
So what: If you purchased CleanCore Solutions securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=59015 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
What is this about: Rosen Law Firm is investigating potential civil securities claims.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
NEW YORK--(BUSINESS WIRE)--Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of CleanCore Solutions, Inc. (NYSE American: ZONE) resulting from allegations that CleanCore Solutions, Inc. may have issued materially misleading business information to the investing public.
So what: If you purchased CleanCore Solutions securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=59015 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.
What is this about: Rosen Law Firm is investigating potential civil securities claims.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.
Attorney Advertising. Prior results do not guarantee a similar outcome.
LOS ANGELES, April 26, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of CleanCore Solutions, Inc. (“CleanCore” or “the Company”) (NYSE American: ZONE) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335 [email protected]
Chevron CEO Mike Wirth joins ‘Mornings with Maria' to break down surging oil prices, the Iran conflict and how the Strait of Hormuz shutdown could spark a global supply crunch as U.S. energy ramps up. 0:00 – Chevron Q1 Earnings: Profits vs.
Company has signed Non-Binding Letter of Intent (LOI) for an initial data center project
Alex Spiro serves as the Chairman of the Board of Directors
, /PRNewswire/ -- CleanCore Solutions, Inc. (NYSE American: ZONE) ("CleanCore" or the "Company") today announced that Tyler Hassen has been appointed Chief Executive Officer ("CEO") and as a member of the Company's Board of Directors (the "Board"). Under Hassen's leadership, the Company will focus on building critical AI infrastructure across the United States. Formerly backed by the Dogecoin Foundation in partnership, the Company will move away from its cleaning products business and its previously announced Dogecoin treasury strategy. The Company also announced that it has signed a non-binding Letter of Intent ("LOI") to develop a data center project in the Midwest.
Hassen brings over two decades of experience across the energy, industrial, and government sectors. Most recently, he served as the Acting Assistant Secretary of Policy, Management & Budget at the U.S. Department of the Interior under Secretary Doug Burgum, and previously served as Chief Executive Officer of Basin Holdings, a diversified energy and industrial business. His experience navigating industrial operations, permitting processes, and strategic partnerships in these sectors will help position CleanCore Solutions to execute and transition the business to meet the growing AI infrastructure demand.
"Compute has become one of the most valuable resources in the world, and the demand for power, land and infrastructure it requires is unprecedented, and only continues to accelerate," said Tyler Hassen, newly appointed CEO. "We believe that our transition positions us to be a foundational player in the critical infrastructure that powers the AI economy."
The Company is actively evaluating additional development opportunities across rural and industrial areas of the United States, as it expands its pipeline to bring data centers and campuses online.
About CleanCore Solutions, Inc.
CleanCore Solutions, Inc. (NYSE American: ZONE) is building the critical infrastructure that powers the AI economy. Through a growing pipeline of projects, ZONE aims to help meet the increasing demand for compute capacity, power, and digital infrastructure required by the world's leading AI companies.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements regarding the Company's strategic transition to AI infrastructure; the Company's plans to develop data centers and related projects; expectations regarding the Letter of Intent and other development opportunities; and other statements that are not historical facts. Forward-looking statements are generally identified by words such as "believes," "looks to," "will," "positions," "focused on," "aims," "expanding," and similar expressions.
These forward-looking statements are based on management's current expectations and assumptions as of the date of this press release and are subject to significant risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to: the highly speculative and uncertain nature of the Company's anticipated AI critical infrastructure business; the Company's lack of operating history in the data center or computing infrastructure industry; the Company's limited experience in the data center and AI infrastructure industries; the Company's ability to successfully transition its business model from cleaning services; risks associated with the Company's LOI, including that it may not result in a definitive agreement or completed project; the Company's ability to identify, develop, and bring online data center projects on anticipated timelines and budgets; the Company's ability to secure adequate financing for capital-intensive infrastructure projects; the significant capital requirements associated with data center development and the Company's limited current financial resources; the Company's ability to consummate a sale or disposition of its cleaning products business on favorable terms or at all; risks associated with the Company's transition away from its Dogecoin treasury strategy, including potential volatility in cryptocurrency markets and risks related to the disposition of digital asset holdings; competition from established data center operators and hyperscale cloud providers; risks related to permitting, land acquisition, and utility interconnection for data center projects; the Company's dependence on development and operating partners for initial projects; changes in demand for AI infrastructure and compute capacity; changes in government regulation affecting AI infrastructure or data centers; conditions that raise substantial doubt about the Company's ability to continue as a going concern; and general economic and market conditions.
For a more complete discussion of risks and uncertainties, please refer to the Company's filings with the U.S. Securities and Exchange Commission ("SEC"), including the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. All forward-looking statements are qualified in their entirety by this cautionary statement.
Tildeling av aksjer til enkelte primærinnsidere og deres nærstående i Equinor (OSE: EQNR, NYSE: EQNR) i henhold til Equinors aksjespareprogram og langtidsinsentivprogram.
Enkelte primærinnsidere, samt deres nærstående, som deltar i Equinors aksjespareordning har den 20. mai 2026 fått tildelt aksjer.
Videre har enkelte primærinnsidere som deltar i Equinors langtidsinsentivprogram den 20. mai 2026 fått tildelt aksjer til en kurs på NOK 356,31 pr aksje i forbindelse med selskapets langtidsinsentivprogram. Langtidsinsentivprogrammet er et fast lønnselement som blir beregnet som en andel av deltakernes grunnlønn, og er på 20-25 prosent avhengig av den enkelte deltakerens stilling. Netto årlig beløp investeres i Equinor aksjer. Aksjene er bundet i tre år.
Detaljer om individuelle tildelinger av aksjer til primærinnsidere og deres nærstående er inntatt i vedlegget til denne meldingen.
Denne opplysningen er informasjonspliktig etter EU Market Abuse Regulation, jf. verdipapirhandelloven § 3-1, samt verdipapirhandelloven §5-12.
20 May 2026 Allocation of shares - LTI 20 May 2026 Allocation of shares
Allocation of shares to certain primary insiders and their close associates in Equinor (OSE: EQNR, NYSE: EQNR) under Equinor’s share saving plan and long-term incentive programme.
Certain primary insiders, and their close associates, participating in Equinor’s share saving plan, have on 20 May 2026 been allocated shares.
Further, certain primary insiders participating in Equinor’s long term incentive programme, have on 20 May 2026 been allocated shares at a share price of NOK 356,31 per share in connection with the company’s long-term incentive programme. The long-term incentive programme is a fixed, monetary compensation calculated as a portion of the participant’s base salary, ranging from 20-25 per cent depending on the individual’s position. The net annual amount is invested in Equinor shares. The shares are subject to a three-year lock-in period.
Details on individual allocation of shares to the primary insiders and their close associates are set forth in the attached overview.
This information is subject to disclosure obligations pursuant to the EU Market Regulation, cf. section 3-1 in the Norwegian Securities Trading Act, and section 5-12 of the Norwegian Securities Trading Act.
20 May 2026 Allocation of shares - LTI 20 May 2026 Allocation of shares
Equinor logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesOSLO, May 21 (Reuters) - Norwegian oil companies Equinor (EQNR.OL), opens new tab and Aker BP (AKRBP.OL), opens new tab said on Thursday they have agreed to swap stakes in several oil and gas fields off the coast of Norway, and that this could lead to increased production by speeding up new developments.
Initial deals involved stakes in a cluster of discoveries known as Ringvei Vest as well as the Yggdrasil field and the Wisting area, and could be followed by further transactions, the companies said.
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"These agreements will enable better development solutions, reduce complexity, and support value creation in line with our long-term strategy," Equinor Executive Vice President Kjetil Hove said in a statement.
"By aligning interests across these assets, we can enable better and faster project decisions," he added.
Norway is Europe's biggest oil and gas producer, pumping more than four million barrels of oil equivalent per day, and aims to extend the lifetime of its petroleum industry in the coming decades.
"The transactions support Equinor's strategy to optimise its oil and gas portfolio and enable high-value, timely developments on the Norwegian continental shelf towards 2035," the majority state-owned company said.
Reporting by Terje Solsvik; Editing by Tom Hogue and Kim Coghill
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Equinor ASA (OSE: EQNR, NYSE: EQNR) announced on 4 February 2026 a cash dividend per share of USD 0.39 for fourth quarter 2025.
The NOK cash dividend per share is based on average USDNOK fixing rate from Norges Bank in the period plus/minus three business days from record date 15 May 2026, in total seven business days.
Average Norges Bank fixing rate for this period was 9.2414. Total cash dividend for fourth quarter 2025 is consequently NOK 3.6041 per share.
On 27 May 2026, the cash dividend will be paid to relevant shareholders on Oslo Børs (Oslo Stock Exchange) and to holders of American Depositary Receipts ("ADRs") on New York Stock Exchange.
This information is published in accordance with the requirements of the Continuing Obligations and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The deal includes a series of transactions across several discoveries to better align ownership interests, speed development of resources and enhance production.
Item 1 of 2 Gas installation is pictured at the Cavern Underground Gas Storage (CUGS) Kosakowo facility, near Debogorze, Poland April, 30. 2022. Picture taken April 30, 2022. REUTERS/Kacper Pempel
[1/2]Gas installation is pictured at the Cavern Underground Gas Storage (CUGS) Kosakowo facility, near Debogorze, Poland April, 30. 2022. Picture taken April 30, 2022. REUTERS/Kacper Pempel Purchase Licensing Rights, opens new tab
SummaryCompaniesEuropean gas stocks are just above 35%Equinor's Kristiansen says stocks could reach acceptable level if Strait of Hormuz reopens soonDutch TTF gas prices peaked at 74 euros/MWh in March, highest since January 2023AMSTERDAM, May 21 (Reuters) - Europe could face a critical shortfall in gas stocks if disruption to shipping through the Strait of Hormuz lasts one to three months from now, as low inventories and distorted prices slow stockpiling, senior executives at Equinor (EQNR.OL), opens new tab said.
Gas caverns and tanks across Europe are currently just above 35% full, below a seasonal norm of around 50%, Gas Infrastructure Europe data showed.
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Member states need to build a gas buffer during the northern hemisphere summer to reach an EU-imposed 90% storage target between October and the beginning of December.
"If the war stopped tomorrow, with free flow to the Strait happening quickly, we could come to an acceptable, but tight storage level of 75%, but if the closure continues for one to three months, it could become critical," Equinor Senior Vice President for Gas & Power Trading Helle Ostergaard Kristiansen told Reuters.
Refilling gas storage for next winter already looked problematic at the beginning of March and little progress has been made since then due to current prices, with contracts for gas delivery in winter cheaper than summer.
HIGHER PRICES COULD CURB GAS CONSUMPTIONGovernments could intervene in the market with incentives and rules or the structure of prices must change with a rise in contracts for gas delivery in the winter compared with summer deliveries, analysts say.
"We saw that in 2022, when the governments imposed regulation on storage filling... it was very costly for them. So the market itself can probably balance the situation through price signals," Peder Bjorland, Equinor's vice president for gas trading, said on the sidelines of the Flame energy conference in Amsterdam.
He added that elevated prices could curb gas consumption significantly - through fuel switching to coal, an increased use of renewable energy and a fall in fuel demand by the industry - helping a rebalance.
"If we have prices up to what we saw in the beginning (of the Iran war), around 60-70 euros per megawatt hour, then we have estimated that gas to power alone could actually result in a reduced demand of around 10 billion cubic metres," Bjorland said.
European gas prices at the Dutch TTF gas hub were hovering around 50 euros/MWh on Thursday, having risen in March to 74 euros/MWh, their highest level since January 2023.
Reporting by Francesca Landini; Editing by Emelia Sithole-Matarise
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Francesca has covered since 2022 some of Europe's biggest energy groups, focusing on their efforts to decarbonize their business while ensuring growth and technological progress. She also reports about European Union's initiatives against climate change and energy regulation in Italy. She was named Reporter of the Year in 2022 by Reuters. Before energy, Francesca was part of Reuters aerospace and defense reporting team. She is graduated in Economics and loves painting in her free time.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor.
Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
#1 (Strong Buy) stocks have produced an unmatched +23.7% average annual return since 1988, which is more than double the S&P 500's performance over the same time frame. However, the Zacks Rank examines a ton of stocks, and there can be more than 200 companies with a Strong Buy rank, and another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Equinor (EQNR - Free Report) Headquartered in Stavanger, Norway, Equinor ASA is one of the premier integrated energy companies in the world, with operations spreading across 30 countries. In Europe, the company is the second-largest supplier of natural gas. Equinor is also a leading seller of crude oil. Over the years, the company has developed its expertise to expand upstream operations outside of conventional offshore resources to the prolific shale oil and gas plays. Importantly, at 2025-end, the company had estimated proved reserves of 5,183 million barrels of oil equivalent (Boe), compared to 5,571 million Boe at 2024-end. The reserve replacement ratio was 48% in 2025.
EQNR is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 7.61; value investors should take notice.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $1.72 to $5.10 per share. EQNR boasts an average earnings surprise of +10.9%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, EQNR should be on investors' short list.
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Zacks Premium also includes the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors, on the other hand, are more concerned with a company's financial strength and health, and its future outlook. The Growth Style Score examines things like projected and historic earnings, sales, and cash flow to find stocks that will experience sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Equinor (EQNR - Free Report) Headquartered in Stavanger, Norway, Equinor ASA is one of the premier integrated energy companies in the world, with operations spreading across 30 countries. In Europe, the company is the second-largest supplier of natural gas. Equinor is also a leading seller of crude oil. Over the years, the company has developed its expertise to expand upstream operations outside of conventional offshore resources to the prolific shale oil and gas plays. Importantly, at 2025-end, the company had estimated proved reserves of 5,183 million barrels of oil equivalent (Boe), compared to 5,571 million Boe at 2024-end. The reserve replacement ratio was 48% in 2025.
EQNR is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Momentum investors should take note of this Oils-Energy stock. EQNR has a Momentum Style Score of A, and shares are up 2% over the past four weeks.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.87 to $5.10 per share. EQNR also boasts an average earnings surprise of +10.9%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, EQNR should be on investors' short list.
Please see below information about transactions made under the second tranche of the 2026 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).
Date on which the buy-back tranche was announced: 6 May 2026.
The duration of the buy-back tranche: 19 May to no later than 20 July 2026.
Further information on the tranche can be found in the stock market announcement on its commencement dated 6 May 2026, available here: https://newsweb.oslobors.no/message/672447
From 19 May to 22 May 2026, Equinor ASA has purchased a total of 312,060 own shares at an average price of NOK 369.0578 per share.
Overview of transactions:
DateTrading venueAggregated daily volume (number of shares)Daily weighted average share price (NOK)Total daily transaction value (NOK) 19 MayOSE78,900373.068529,435,104.65 CEUX TQEX 20 MayOSE76,160375.412428,591,408.38 CEUX TQEX 21 MayOSE78,000367.265528,646,709.00 CEUX TQEX 22 MayOSE79,000360.695628,494,952.40 CEUX TQEX Total for the periodOSE312,060369.0578115,168,174.43 CEUX TQEX Previously disclosed buy-backs under the trancheOSE CEUX TQEX Total Total buy-backs under the tranche (accumulated)OSE312,060369.0578115,168,174.43CEUX TQEX Total312,060369.0578115,168,174.43 Following completion of the above transactions, Equinor ASA owns a total of 65,387,023 own shares, corresponding to 2.56% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 55,111,356 own shares, corresponding to 2.16% of the share capital).
This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.
The nomination committee of Equinor ASA (OSE:EQNR, NYSE:EQNR) recommends that the company's corporate assembly elects Jarle Roth as new chair of the board of directors of Equinor ASA.
Furthermore, the nomination committee recommends re-election of Anne Drinkwater as deputy chair, in addition to Finn Bjørn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen and Dawn Summers as members of the board of directors of Equinor ASA. Jon Erik Reinhardsen, who has been the chair of the board since 2017, would like to resign from the board of directors.
Jarle Roth has been a member of the board since1 December 2025.
Jarle Roth is an independent advisor. Roth has held CEO roles in multiple Norwegian companies, including at Eksportkreditt Norge AS, Arendals Fossekompani ASA, Umoe Group, Schat-Harding and Unitor ASA. His career spans across industrial investment management, change management, energy transition initiatives, financing of Norwegian export industries and global shipping services. He has extensive experience from major listed companies. His boardroom experience includes governance, risk management, strategy, M&A, and sustainability. Internationally, Roth has led and integrated businesses with activities within Europe, Americas and Asia.
Roth has previously served as chair of the nomination committee and corporate assembly of Equinor ASA.
Roth has a MSc of Finance and Business Administration (“siviløkonom”) from the Norwegian School of Economics (NHH).
The election to the board of directors of Equinor ASA will be held in the company's corporate assembly meeting Monday 8 June 2026. It is proposed that the election enters into effect from 1 July 2026 and until the ordinary election of members to the board of directors in June 2027.
Contacts:
Nils Morten Huseby, chair of the nomination committeeAll enquiries to be directed through Equinor Corporate Press Office, Sissel Rinde, +47 412 60 584. This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Equinor logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesHELSINKI/OSLO, June 1 (Reuters) - Equinor (EQNR.OL), opens new tab said on Monday its nomination committee has proposed board member Jarle Roth as the Norwegian oil group's new chair after Jon Erik Reinhardsen decided to step down.
Reinhardsen, 70, has led the board for nearly a decade, overseeing a push into renewables and other low-carbon businesses, an expansion that has slowed in recent years amid rising costs, energy security concerns and U.S. headwinds.
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"Jon Erik Reinhardsen, who has been the chair of the board since 2017, would like to resign from the board of directors," Equinor said in a statement, without elaborating.
Roth, 66, an independent adviser, joined Equinor's board in December 2025, having previously served as CEO of Norwegian companies Eksportkreditt Norge, Arendals Fossekompani, Umoe Group, Schat-Harding and Unitor.
His experience spans industrial investment management, restructuring, energy transition, export financing and global shipping services, Equinor said.
"Roth's long experience from different CEO positions, boards and his knowledge of the company will benefit Equinor if he is elected on June 8," a spokesperson said in an email.
The vote comes ahead of an investor presentation in New York on June 16, when management is expected to update its strategy.
Over the past year, Equinor has scaled back its renewable ambitions, scrapping a 2030 investment target, cutting planned installed capacity and lowering its net carbon intensity goals, citing rising costs and immature markets.
Last year, Reinhardsen called for closer cooperation with Denmark's Orsted (ORSTED.CO), opens new tab, the world's largest offshore wind developer, in which Equinor took a 10% stake at the end of 2024 and subscribed to a new share issue last year.
The committee also proposed re-electing Anne Drinkwater as deputy chair, along with board members Finn Bjorn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen and Dawn Summers.
Reporting by Essi Lehto and Nerijus Adomaitis, editing by Anna Ringstrom and Alexander Smith
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Key Takeaways Baker Hughes signed multi-year contract extensions with Equinor for offshore projects on the NCS.Baker Hughes will deploy advanced drilling and reservoir-mapping technologies to support field development.Baker Hughes is expanding its intervention role to help improve well output, efficiency and longevity. Baker Hughes Company (BKR - Free Report) announced two multi-year contract extensions with Equinor ASA (EQNR - Free Report) to provide integrated drilling, well services and wireline intervention solutions for offshore projects in the North Sea. The contract will help EQNR develop both mature and new fields on the Norwegian Continental Shelf (NCS) to boost efficiency, increase resource recovery and meet production targets.
Under the integrated drilling and well services contract, BKR will deploy technologies across its Well Construction and Completions, Intervention and Measurement portfolio to support the development of the NCS. Advanced solutions such as the Kantori autonomous well construction system and TRU-ARMS advanced reservoir mapping services will be used to enhance field development.
Under the intervention contract, Baker Hughes will combine its surface and downhole solutions with partner technologies to maximize the lifespan and output of the North Sea offshore wells. This contract extension expands the PRIME Technology Platform's role in driving production efficiency and lowering emissions on the NCS.
The contract extensions reinforce BKR’s long-standing presence in Norway’s energy sector and strengthen its position in the North Sea market. They also highlight the growing demand for advanced technologies that improve operational efficiency, maximize hydrocarbon recovery and support long-term offshore production growth. Such contracts strengthen BKR’s business model, boost cash flow and increase investor appeal.
Baker Hughes currently has a Zacks Rank #5 (Strong Sell), while Equinor carries a Zacks Rank #3 (Hold).
The business models of BKR and other players providing oilfield services to upstream companies are closely tied to upstream players' capital spending. With West Texas Intermediate crude prices trading around the $90-per-barrel mark, according to oilprice.com, upstream players like Chevron Corporation (CVX - Free Report) , YPF Sociedad Anónima (YPF - Free Report) and EQNR are benefiting from the elevated crude prices. CVX and YPF sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chevron is an integrated energy giant with a robust presence in the Permian Basin. Supported by strong upstream execution and its expanding resource base, CVX achieved first-quarter 2026 international net oil-equivalent production of 1.8 million barrels of oil equivalent per day, representing an increase from the year-ago quarter.
YPF is a major integrated energy company that leverages its extensive footprint in Argentina’s Vaca Muerta formation to fuel production growth. YPF expects spending and activity to increase in the coming quarters of 2026, which should bolster oil and gas production in the second half of 2026.
Please see below information about transactions made under the second tranche of the 2026 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).
Date on which the buy-back tranche was announced: 6 May 2026.
The duration of the buy-back tranche: 19 May to no later than 20 July 2026.
Further information on the tranche can be found in the stock market announcement on its commencement dated 6 May 2026, available here: https://newsweb.oslobors.no/message/672447
From 26 May to 29 May 2026, Equinor ASA has purchased a total of 333,700 own shares at an average price of NOK 344.0047 per share.
Overview of transactions:
DateTrading venueAggregated daily volume (number of shares)Daily weighted average share price (NOK)Total daily transaction value (NOK) 26 MayOSE82,000353.075028,952,150.00 CEUX TQEX 27 MayOSE81,900342.712828,068,178.32 CEUX TQEX 28 MayOSE83,400344.392328,722,317.82 CEUX TQEX 29 MayOSE86,400336.246929,051,732.16 CEUX TQEX Total for the periodOSE333,700344.0047114,794,378.30 CEUX TQEX Previously disclosed buy-backs under the trancheOSE312,060369.0578115,168,174.43CEUX TQEX Total312,060369.0578115,168,174.43 Total buy-backs under the tranche (accumulated)OSE645,760356.1115229,962,552.73CEUX TQEX Total645,760356.1115229,962,552.73 Following completion of the above transactions, Equinor ASA owns a total of 65,720,723 own shares, corresponding to 2.57% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 55,445,056 own shares, corresponding to 2.17% of the share capital).
This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.
Bedriftsforsamlingen i Equinor ASA (OSE:EQNR, NYSE:EQNR) har 8. juni 2026 valgt Jarle Roth som ny leder av styret i Equinor ASA.
Anne Drinkwater ble gjenvalgt som nestleder og Finn Bjørn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen og Dawn Summers ble gjenvalgt som medlemmer av styret i Equinor ASA. Nåværende styreleder Jon Erik Reinhardsen vil tre ut av styret.
Aksjonærrepresentanter til styret i Equinor ASA er valgt med virkning fra 1. juli 2026 og gjelder frem til neste ordinære valg til styret i juni 2027.
Kontaktpersoner:
Nils Morten Huseby, leder av valgkomiteenForespørsler formidles gjennom informasjonsdirektør i Equinor,
Sissel Rinde, +47 412 60 584 Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12
The corporate assembly of Equinor ASA (OSE:EQNR, NYSE:EQNR) has on 8 June 2026 elected Jarle Roth as new chair of the board of directors of Equinor ASA.
The corporate assembly re-elected Anne Drinkwater as deputy chair and Finn Bjørn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen and Dawn Summers were re-elected as members of the board of directors of Equinor ASA. The current chair of the board, Jon Erik Reinhardsen, will resign from the board of directors.
The shareholder representatives of the board of directors of Equinor ASA are elected with effect from 1 July 2026 and until the ordinary election to the board of directors in June 2027.
Contacts:
Nils Morten Huseby, chair of the nomination committeeAll enquiries to be directed through Equinor Corporate Press Office,
Sissel Rinde, +47 412 60 584 This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act
Equinor logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration Purchase Licensing Rights, opens new tab
CompaniesCOPENHAGEN, June 8 (Reuters) - Norwegian oil group Equinor (EQNR.OL), opens new tab said on Monday it had elected Jarle Roth as its new board chair, after the nomination committee proposed him last week.
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Roth is elected with effect from July 1, Equinor said in a statement.
Equinor's nomination committee proposed Roth after Jon Erik Reinhardsen, who has been chair since 2017, decided to step down.
Roth, 66, an independent adviser, joined Equinor's board in December 2025, having previously served as CEO of Norwegian companies Eksportkreditt Norge, Arendals Fossekompani, Umoe Group, Schat-Harding and Unitor.
The board also re-elected Anne Drinkwater as deputy chair, along with board members Finn Bjorn Ruyter, Haakon Bruun-Hanssen, Mikael Karlsson, Fernanda Lopes Larsen and Dawn Summers.
Reporting by Louise Rasmussen; Editing by Nia Williams
Our Standards: The Thomson Reuters Trust Principles., opens new tab
Please see below information about transactions made under the second tranche of the 2026 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQNR, CEUX:EQNRO, TQEX:EQNRO).
Date on which the buy-back tranche was announced: 6 May 2026.
The duration of the buy-back tranche: 19 May to no later than 20 July 2026.
Further information on the tranche can be found in the stock market announcement on its commencement dated 6 May 2026, available here: https://newsweb.oslobors.no/message/672447
From 1 June to 5 June 2026, Equinor ASA has purchased a total of 408,516 own shares at an average price of NOK 350.5696 per share.
Overview of transactions:
DateTrading venueAggregated daily volume (number of shares)Daily weighted average share price (NOK)Total daily transaction value (NOK) 1 JuneOSE84,500345.441029,189,764.50 CEUX TQEX 2 JuneOSE80,675346.487327,952,862.93 CEUX TQEX 3 JuneOSE81,441355.296928,935,734.83 CEUX TQEX 4 JuneOSE80,400352.672528,354,869.00 CEUX TQEX 5 JuneOSE81,500353.129628,780,062.40 CEUX TQEX Total for the periodOSE408,516350.5696143,213,293.66 CEUX TQEX Previously disclosed buy-backs under the trancheOSE645,760356.1115229,962,552.73CEUX TQEX Total645,760356.1115229,962,552.73 Total buy-backs under the tranche (accumulated)OSE1,054,276353.9641373,175,846.39CEUX TQEX Total1,054,276353.9641373,175,846.39 Following completion of the above transactions, Equinor ASA owns a total of 66,129,239 own shares, corresponding to 2.59% of Equinor ASA’s share capital, including shares under Equinor’s share savings programme (excluding shares under Equinor’s share savings programme, Equinor owns a total of 55,853,572 own shares, corresponding to 2.18% of the share capital).
This is information that Equinor ASA is obliged to make public pursuant to the EU Market Abuse Regulation and that is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Appendix: A overview of all transactions made under the buy-back tranche that have been carried out during the above-mentioned time period is attached to this report and available at www.newsweb.no.
Equinor remains my top buy for European natural gas exposure amid a looming supply crunch and low inventories. The widening WTI & Brent price spread also plays into positive fundamentals. I am raising my buy target to $37, planning incremental purchases below this level as Europe's energy crisis deepens. Q1 results showed net income rising to $3.1B on higher upstream production, despite lower realized European gas prices.
Shares of Figma rose about 9% in premarket trading on Friday after the design software company raised its annual revenue forecast, signaling that growing adoption of its artificial intelligence tools is helping drive customer expansion and higher spending across its platform.
The company said it now expects fiscal 2026 revenue between $1.42 billion and $1.43 billion, up from its earlier forecast of $1.36 billion to $1.37 billion.
The stronger outlook came after Figma reported first-quarter revenue of $333.4 million for the period ended March 31, ahead of analyst estimates of $313.2 million, according to data compiled by LSEG.
Figma has increasingly integrated AI features across its browser-based design platform, which is widely used by customers ranging from freelancers to large Fortune 500 companies.
The company’s software allows users to move from early-stage sketches and prototypes to coding and publishing products within a single platform.
Figma has been betting that AI can simplify those workflows further and expand adoption among corporate customers.
Executives said customer engagement with the company’s AI products remained strong even after Figma introduced usage-based credit limits earlier this year.
Over 75% of “Org” and “Enterprise” users who exceeded their AI credit limits continued purchasing additional AI credits in April, the company said.
Figma began enforcing those credit limits in March and introduced paid add-ons for customers who exceeded the AI usage included in their plans, part of a broader push to monetize demand for AI-powered features.
“As AI gets better, Figma is accelerating and customer usage and workflows on our platform are deepening. Our platform and AI products drove faster growth for both new customer acquisition and expansion within existing accounts,” Chief Financial Officer Praveer Melwani said in the earnings statement.
The company also forecast second-quarter revenue between $348 million and $350 million, above analysts’ expectations of $327 million.
Competition concerns remainDespite the upbeat results, investors and analysts continue to watch closely for signs that rapidly evolving AI technology could disrupt traditional software platforms.
The rise of so-called agentic AI tools has intensified concerns across the technology industry that advanced models may eventually handle more design and development tasks without relying on conventional software workflows.
Last month, Anthropic unveiled Claude Design, a tool that allows users to generate designs, interactive prototypes and presentations using AI prompts.
“When you talk about a Claude design...you can't dismiss them, their ability to train first-party models and couple those with their own products is something that we definitely are paying attention to,” Melwani told Reuters.
Still, Figma executives argued that AI is currently acting more as a growth catalyst than a threat, helping the company attract more customers and deepen usage across existing accounts.
Analysts remain cautiously optimistic on the stock.
Piper Sandler lowered its price target on Figma to $30 from $35, though broader Wall Street sentiment remains constructive.
According to estimates from seven analysts, Figma’s average price target has fallen to $35.14 from $37.43, with forecasts ranging from $25 to $44 per share.
Based on the stock’s May 14 closing price, the revised average target still implies roughly 74% upside potential.
Consensus ratings compiled across 13 analysts continue to stand at “Buy,” with four Buy ratings, nine Holds, and no Sell recommendations.
1. Nu Holdings' Latin America Growth Continues Nu Holdings (NU +0.86%) posted a 56% net income jump year over year (YoY) in its first quarter of fiscal 2026 yesterday, after customer numbers reached a new record – up 14% YoY to 135 million. The outlook for the Latin American fintech platform is on scaling technology, including AI. But with credit risk growing, and operating costs expected to rise, the stock fell over 4% in pre-market trading this morning. The stock lags the S&P 500 by 11% since its 2023 Rule Breakers recommendation.
Over 15 million Mexico customers: Mexico was a highlight of the quarter, with Nu Holdings now the third-largest financial institution in the country – as it achieved break-even for the first time. It follows previous growth across the region. "In Brazil, we surpassed 115 million customers": Founder and CEO David Vélez also spoke of "our position as the largest private financial institution in the country," as the company approaches 100 million monthly active customers. 2. Cerebras Soars 68% on IPO Cerebras Systems (CBRS 3.75%) made its highly anticipated stock market debut yesterday, at an initial pricing of $185 – raising $5.55 billion, to nail it as the biggest IPO of the year so far. The launch was oversubscribed more than 20 times, and the stock quickly spiked to $385 – triggering a temporary trading halt. By market close the price settled to $311, for a 68% rise on the offer price – and it gained a further 2% in overnight trading.
Wafer-scale AI chips: Market leader Nvidia (NVDA +0.08%) and other semiconductor makers etch multiple chips on the same wafer and cut it up to produce individual devices. Cerebras, instead, is the first company to commercialize making the entire wafer into a single massive chip – which can handle AI workloads faster and with less power. Revenue up 76% in 2025 to $510 million: From revenue of just $25 million in 2022, Cerebras is growing impressively. But it's still way behind Nvidia, which reported nearly 380 times the data center revenue last year that Cerebras achieved. 3. Thursday Earnings You Might Have Missed Globant (GLOB 4.34%) gained more than 5% pre-market following the AI services tech's Q1 earnings. Though revenue dipped 0.7% in the quarter, it was still above the high end of the company's guidance. Annual recurring revenue from Globant's AI Pods subscription service soared to $32.8 million, from $20.6 million in the previous quarter. Applied Materials (AMAT +5.64%) revealed new revenue and profit records in Q2 yesterday, with non-GAAP earnings per share up 20% YoY – as its Semiconductor Systems segment drove most of the growth. Despite these gains, free cash flow fell 80% due to big spending on manufacturing capacity. The stock dipped 3% in early trading. Figma (FIG 3.59%) climbed 10% this morning, after the cloud-based tools specialist saw growth accelerate in Q1. Fool analyst Tim Beyers noted "enterprise software tools – including SaaS tools – are likely to be the greatest distribution mechanism for AI tools and technology." 4. Futures Dip as Trump-Xi Summit Ends Markets retreated sharply this morning, after both the S&P 500 and Nasdaq hit fresh all-time highs yesterday – and the Dow ended above 50,000 points. In early trading, S&P 500 futures declined 1%, with Nasdaq futures down 1.5%.
"One thing he agreed to today, he's going to order 200 jets": As President Trump's meeting with Chinese President Xi Jinping drew to an end, Trump told Fox News of a new deal with Boeing (BA +2.43%) – though shares remained depressed after the company was hit with a $49.5 million penalty relating to the 2019 Ethiopian Airlines 737 Max crash. He also spoke of new farm goods deals, though Beijing has not confirmed anything. Iran war costs: There were hopes China could be enlisted to help end the turmoil in Iran, while Xi warned of possible "clashes and even conflicts" with the U.S. over Taiwan. Meanwhile, inflation continues to drive up, while global bonds are in a rout – with 10-year Treasury yields above 4.5%. 5. Your Take IPOs often pop on day one, then settle or pull back in the following weeks/months. Do you have the patience to wait for a better price, or does watching from the sidelines feel worse than overpaying?
Debate with friends and family, or become a member to hear what your fellow Fools are saying!
This image and article was created using Large Language Models (LLMs) based on The Motley Fool's insights and investing approach. It has been reviewed by our AI quality control systems. Since LLMs cannot (currently) own stocks, it has no positions in any of the stocks mentioned. The Motley Fool has positions in and recommends Applied Materials, Boeing, Figma, Globant, Nu Holdings, and Nvidia. The Motley Fool has a disclosure policy.
Morgan Stanley lowered its price target on Figma (NYSE:FIG) to $38 from $44, maintaining an Equal Weight rating following the design software maker’s first-quarter results. The price target cut arrives despite a second straight quarter of accelerating revenue growth to 46% year over year, highlighting an unusual tension in the analyst community.
Piper Sandler analyst Billy Fitzsimmons also trimmed his target to $30 from $35 while keeping an Overweight rating. For investors in Figma stock, the message is nuanced: growth is excellent, yet the AI competition debate is compressing the multiple Wall Street will pay for it.
Ticker Company Firm Action Old Rating New Rating Old Target New Target FIG Figma Morgan Stanley Price Target Cut Equal Weight Equal Weight $44 $38 FIG Figma Piper Sandler Price Target Cut Overweight Overweight $35 $30 The Analyst’s Case Morgan Stanley credited the accelerating top line to seat expansion, paid customer conversion, and new credit monetization. The firm noted that while investor debates on competition and gross margins persist, the Q1 2026 results “provide a strong case for Figma’s positioning in AI.”
Piper Sandler’s data points were similarly strong: Figma’s 6% revenue beat, net dollar retention of 139%, and a Q2 revenue growth guidance midpoint of 40% year over year, a sizable nine points ahead of consensus. Management also raised the FY26 revenue growth midpoint to 35% year over year.
Company Snapshot Figma operates a collaborative design platform used by product teams across enterprises. The company carries a market capitalization of roughly $9.98 billion and generated trailing revenue of $1.06 billion, with gross margins around 85%.
FIG shares last traded at $23, well below the 52-week high of $142.92. The consensus analyst target sits at $40.25, with ratings skewing toward Hold.
Why the Move Matters Now The valuation reset reflects a structural concern about category disruption rather than any execution miss in the quarter. So-called “vibe coding” platforms and AI-generated user interface tools are increasingly capable of producing design assets without traditional workflows. That has investors questioning whether the design tool category itself faces disruption.
Figma’s defense is its enterprise footprint and AI feature velocity, evidenced by that 139% net dollar retention figure. Even so, Figma stock trades at a price-to-sales ratio of 9x, leaving little room for multiple compression if growth ever slows.
What It Means for Your Portfolio For prudent investors, the analyst downgrade signals less about Figma’s near-term fundamentals and more about the AI overhang on the entire design software category. A 46% growth rate at this scale remains rare, and management’s raised full-year outlook suggests momentum is durable.
Yet the bear case deserves weight. If AI-native tools commoditize design output, even exceptional results may not drive multiple expansion. Position sizing should reflect that asymmetric risk while leaving room to participate if the AI competition fear proves overstated.
Key Takeaways Figma shares jumped 12% after Q1 earnings beat estimates and revenues climbed 46% y/y.FIG raised its 2026 revenue guidance as AI credit monetization and seat expansion gained traction.Figma ended Q1 with 15,218 customers generating more than $10,000 in ARR. Figma (FIG - Free Report) shares gained 12% during Thursday’s extended trading session after the company reported better-than-expected first-quarter 2026 results. Figma came out with non-GAAP earnings of 10 cents per share, beating the Zacks Consensus Estimate by 66.7%. The company reported earnings of 3 cents in the year-ago quarter.
Figma posted revenues of $333.4 million in the first quarter of 2026, surpassing the Zacks Consensus Estimate by 5.5%. Figma’s first-quarter 2026 revenues increased 46% year over year.
Figma’s first-quarter results reflected broad-based seat expansion and rising AI adoption, with net dollar retention reaching 139% at the end of the first quarter. Management also highlighted early traction from AI credit monetization, which began rolling out in March 2026.
FIG’s AI Rollout Starts to Show Up in ResultsA key theme in the first quarter was the company’s push to monetize AI usage while keeping adoption intact. FIG implemented AI credit limits across seats beginning March 18, and management pointed to encouraging early behavior among larger customers as usage moved into a more structured framework.
The company also emphasized that the “surface area” for credit consumption is expanding. While current credit usage is heavily tied to products like Figma Make and image-editing workflows, management expects newer capabilities, including an AI assistant that is in alpha, to further broaden where credits are consumed over time.
Figma’s Quarterly Results in DetailFIG’s non-GAAP gross profit rose 31.5% year over year to $274.6 million, with a non-GAAP gross margin of 82.4%, down 910 basis points from the prior-year quarter.
The company’s non-GAAP operating profit increased 30.3% year over year to $52.1 million, with a non-GAAP operating margin of 15.6%, down 190 basis points from the prior-year quarter.
The company ended the quarter with 15,218 customers generating more than $10,000 in ARR, adding 1,357 customers in this category in the first quarter of 2026. The company now has 1,525 customers generating more than $100,000 in ARR, adding 120 customers in this category in the first quarter of 2026 alone.
FIG’s Balance SheetAs of March 31, 2026, Figma held $1.6 billion in cash and marketable securities compared with $1.7 billion as of Dec. 31, 2025.
Figma generated $97.3 million in operating cash flow and $88.6 million in adjusted free cash flow during the quarter.
Figma Raises 2026 Revenue OutlookFor 2026, the company raised its revenue outlook to $1.422-$1.428 billion, implying year-over-year growth of 40%, up from its prior view of $1.366-$1.374 billion, suggesting growth of 30%. The Zacks Consensus Estimate for 2026 revenues is pinned at $1.37 billion.
Figma projects its 2026 non-GAAP operating income between $125 million and $135 million, up from the prior stated $100-$110 million.
FIG guided to second-quarter 2026 revenues of $348-$350 million, implying 40% year-over-year growth at the mid-point. The Zacks Consensus Estimate for the second quarter of 2026 revenues is pinned at $330.3 million.
Management tied the upward revision to sustained seat expansion across tiers, improved paid conversion, and better-than-expected performance in credit utilization and add-on purchases since AI credit limits were introduced.
Zacks Rank & Stocks to ConsiderCurrently, Figma carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Computer and Technology sector are Broadcom (AVGO - Free Report) , Celestica (CLS - Free Report) and Amphenol (APH - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Broadcom have gained 27.1% year to date. The Zacks Consensus Estimate for Broadcom’s 2026 earnings is pegged at $11.45 per share, up by a penny over the past 30 days, indicating a year-over-year surge of 67.9%.
Shares of Celestica have gained 29.1% year to date. The Zacks Consensus Estimate for Celestica’s 2026 earnings is pegged at $10.16 per share, up 15.1% over the past 30 days, indicating a year-over-year jump of 67.9%.
Amphenol shares have declined 4.4% year to date. The Zacks Consensus Estimate for APH’s 2026 earnings is pegged at $4.76 per share, up 11.4% over the past 30 days, indicating a year-over-year increase of 42.5%.
Figma, Inc. delivered strong Q1 results, with 46% YoY revenue growth and notable customer expansion, but FIG valuation remains demanding. Operational advances, AI monetization, and high net dollar retention (139%) support the bullish thesis, yet margin compression raises caution. Stock-based compensation and a negative GAAP operating margin (-41%) present ongoing FIG shareholder dilution and profitability concerns.
Figma shares rose after the creative software platform reported first-quarter results that beat expectations and raised its full-year forecast, with analysts saying the report eased concerns about AI-related disruption. Figma CEO Dylan Field joins Bloomberg's Caroline Hyde and Ed Ludlow on "Bloomberg Tech.
When Anthropic released Claude Design in April, one assumption spread quickly through design and tech circles: a prompt-to-interface tool would make interface design platform Figma redundant. Product teams would describe what they wanted and skip the canvas entirely.
Figma’s Q1 2026 results said otherwise.
Figma beat revenue expectations and raised its full-year outlook, Quartz reported on Friday (May 15). The signal underneath the numbers mattered more than the results themselves: Enterprise teams are not leaving Figma because just they have a faster way to generate a screen.
What Claude Design Actually Threatens Claude Design generates websites, landing pages and interfaces from natural language prompts, PYMNTS reported. No prior design experience is required. The tool does not augment an existing workflow. It replaces the starting point entirely.
That is a genuine shift for certain users. Solo builders, early-stage startups and non-designers who need something functional fast no longer need a designer to get there. The threat is real. It just does not describe most of what Figma’s customers actually do.
Large product organizations do not primarily use Figma to generate screens. They use it to maintain shared design systems, manage version control and manage collaborations across distributed teams. Developer handoff, prototyping and governance sit on top of that. A prompt-to-interface tool solves one upstream problem in a workflow with a dozen others downstream.
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Why Enterprise Teams Are Staying The clearest evidence came not from revenue but from behavior. After Figma began enforcing artificial intelligence (AI) usage limits in March, the vast majority of enterprise customers who hit their cap chose to buy more credits. They did not leave, Fast Company found. Teams inside Figma’s collaboration and handoff infrastructure did not treat a generative AI alternative as a viable exit.
CFO Praveer Melwani said the quarter was driven by seat expansion across entire organizations, not just individual power users. Figma is becoming more entrenched inside product teams, even as generative tools multiply around it. CEO Dylan Field put the thesis plainly: when code is a commodity, design judgment is the competitive edge.
What the Broader Industry Is Actually Sorting Out Figma’s quarter does not settle the competitive picture. It clarifies where the battle is actually being fought.
Adobe is facing the same structural question from a different position. Adobe Firefly is embedded across Photoshop, Illustrator and Premiere, assisting designers already inside those tools. It assumes a trained designer is in the loop. Claude Design does not. The pressure Adobe faces is not that its tools are being replaced. It is that the population of people who need professional design tools may stop growing if generative AI tools absorb the entry-level use cases first.
Google Stitch is pushing from another angle. It launched with Claude Code integration already built in, targeting developers who want to move directly from code to interface without switching contexts. Microsoft embedded AI design into Designer and has integrated Claude into PowerPoint. The design workflow is being approached from every adjacent layer simultaneously.
What Figma’s earnings results suggest is that the collaboration and governance layer—the part that sits across entire product organizations rather than inside a single creator’s session—is proving more durable than the generation layer. Generating a screen is getting cheaper and faster across every tool. Coordinating what happens to that screen across a product team of thirty people is still Figma’s problem to solve.
With whispers of a valuation approaching $2 trillion, SpaceX stands on the precipice of potentially the largest initial public offering in history. Yet forecasting the company's stock price at 2030 feels more like an astrology project than astute financial analysis. SpaceX must overcome regulatory hurdles and make significant technological leaps over the next few years to meet investors' sky-high expectations.
Let's explore where SpaceX stands today, detail the company's vast opportunities, and examine some sobering lessons from recent high-profile IPOs.
Image source: Getty Images.
Putting SpaceX's valuation into perspective Let's take a look at SpaceX's valuation trajectory over the last couple of years:
In late 2024, SpaceX bought back shares from employees for $185 each. This secondary share deal valued the company at $350 billion. About one year later, a tender offer pushed the company's worth to $800 billion by December 2025. Earlier this year, SpaceX merged with xAI in a $1.25 trillion transaction. Most recently, shares of SpaceX hit a valuation of $1.5 trillion on Forge Global's private market trading platform. The company is reportedly eying an IPO valuation between $1.75 trillion and $2 trillion. For context, the company would be valued higher than Walmart, Samsung, Meta Platforms, and Tesla at the high end of this range.
Given SpaceX's S-1 filing remains confidential, investors have only estimates of the company's revenue and profitability. Some analysts estimate that SpaceX generated between $15 and $16 billion in revenue last year, while others put the company's top line closer to $18 billion. Regardless of the precise sales figure, SpaceX's IPO valuation implies a price-to-sales (P/S) multiple exceeding 100.
Separating SpaceX's actual business from its lofty goals SpaceX currently operates two proven segments with a third, transformative one taking shape. The company's reusable rockets reduce launch costs by orders of magnitude, helping SpaceX capture lucrative contracts across commercial and government sectors. Meanwhile, Starlink has evolved from a niche connectivity provider into a global broadband network.
The real multiplier for SpaceX is artificial intelligence (AI). The company is increasingly marketing itself as an orbital AI infrastructure provider -- leveraging Starlink's network and Starship's launch capacity to deploy data centers in space.
The pitch looks compelling on the surface: Orbital compute can sidestep Earth's power grid and cooling bottlenecks, offering greater scale for training and inference workloads. Reports claim that SpaceX estimates its total addressable market to be around $28 trillion, with the vast majority tied to enterprise AI.
These technology IPOs might be a good proxy for SpaceX's fate After a direct listing in 2020, Palantir Technologies (PLTR 1.54%) faced loads of skepticism over its lumpy, government-heavy revenue and recurring operating losses. A strategic pivot toward commercial AI applications fueled top-line growth and helped widen profit margins. Since bottoming at around $6 per share in 2022, Palantir stock has gained more than 2,100%.
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Snowflake (SNOW 0.81%) followed a completely different arc. Its 2020 IPO popped dramatically on the first day of trading. Ultimately, it surrendered these gains due to a high-interest-rate environment and normalized growth rates. Investors who bought near the peak remain in the red years later.
SNOW data by YCharts
Most recently, Figma (FIG 3.59%) and Cerebras Systems (CBRS 3.75%) delivered outsize first-day surges driven by enthusiasm across high-growth software and next-generation chip architectures. Figma's momentum eventually settled into a more measured trajectory, with shares now hovering well below their level in early trading days. For now, it's too early to tell if Cerebras stock will maintain its premium as the company works to convert backlog from OpenAI and Amazon Web Services into durable revenue against larger chip rivals.
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History shows that high-profile IPOs generally come with immediate hype and valuation premiums that are driven by narrative. These frothy valuations can persist if business fundamentals compound rapidly and execution matches the growth story -- as with Palantir.
More often, however, IPO stocks erode in the first year after lockups expire, as actual quarterly performance replaces inspiring rhetoric. SpaceX enters the public markets under immense scrutiny. Its IPO will almost certainly price shares at a premium, reflecting the assumed synergies between AI and the final frontier. But the company's valuation in 2030 remains anyone's guess.
Maintaining a trillion-dollar profile will require Starlink to scale to serve tens of millions of users, Starship to achieve routine launches, and orbital AI to evolve from an interesting concept into a revenue-generating business. Execution delays, geopolitical tensions over orbital routes, dependence on Elon Musk, and the possibility that AI compute economics favor ground-based solutions are all genuine risks for SpaceX.
Buying SpaceX at its IPO price requires accepting extreme valuation and volatility risk. A single missed milestone or change in perception could easily trigger a steep correction that lasts several years. Meanwhile, flawless execution from Musk and his team could mint generational wealth. While the stars are within reach, the journey will undoubtedly test even the most patient investors.
Adam Spatacco has positions in Amazon, Meta Platforms, Palantir Technologies, and Tesla. The Motley Fool has positions in and recommends Amazon, Figma, Meta Platforms, Palantir Technologies, Snowflake, Tesla, and Walmart. The Motley Fool has a disclosure policy.
Shares of Figma (FIG 3.59%) jumped last Friday (May 15) after the collaborative design platform company reported that its first-quarter revenue surged. However, the stock is still down more than 35% on the year, as the company has been dragged down by the software-as-a-service (SaaS) sell-off.
Let's dig into the company's results and prospects to see if now is a good time to buy the stock.
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Strong revenue growth continues It's hard to fault Figma for its struggling stock price following its initial public offering (IPO) last year, as operationally the company has been hitting it out of the park. This continued in the first quarter, as the company's revenue growth accelerated, rising 46% to $333.4 million, up from the 40% growth it saw in Q4 and 38% growth in Q3. Adjusted earnings per share (EPS) rose from $0.03 to $0.10.
The growth was driven by both seat expansion and the continued adoption of the company's artificial intelligence (AI) products. Meanwhile, the company began enforcing AI credit limits on all seats in mid-March. It said the change has been positive, with 95% of users who were over the limits still active on the platform and 75% continuing to use credits, with many purchasing additional ones.
Figma continues to see growth from both new and existing customers. Its number of paid customers climbed 54% year over year to 690,000. Meanwhile, its net revenue retention (NRR) rate for customers with more than $10,000 in annual recurring revenue came in at an impressive 139%, its highest level in two years. This metric measures how much additional money, after any churn, existing customers of one year or longer spend.
Figma upped its full-year revenue forecast, predicting that its 2026 revenue would come in between $1.422 billion and $1.428 billion, representing about 35% year-over-year growth at the midpoint of its guidance. That's up from a prior outlook of between $1.366 billion and $1.374 billion. For Q2, it is looking for revenue between $348 million and $350 million, representing 40% year-over-year growth at the midpoint.
Image source: The Motley Fool.
Figma turned in an exceptional quarter of strong revenue growth. And while there remains a narrative that it will be an AI loser, it continues to demonstrate that AI is driving growth.
With its sell-off this year, the stock now trades at a forward price-to-sales (P/S) ratio of around 8.5 times 2026 analyst estimates and 7.2 times the 2027 consensus. That's attractive for a growth stock increasing its revenue at a 35%-plus clip. As such, I think investors can add shares of the stock at these levels.
Key Takeaways While software sentiment remains bearish, earnings tell a different story.The sector-wide selloff has compressed valuations to highly attractive levels.Software titans like Microsoft are finding buyers at long-term technical support. Is the AI-induced “SaaS-pocalypse” Real?The software industry has suffered one of the biggest bearish divergences from the overall equity markets on Wall Street. Driven by fear of artificial intelligence disruption, the iShares Software ETF ((IGV - Free Report) ) is down nearly 13% over the past year while the S&P 500 Index is up 8%.
Image Source: Zacks Investment Research
In early 2026, software stocks cratered after Anthropic released its “Claude Cowork” agentic AI product.
Will Legacy Software-as-a-Service Players Survive?The answer to the question above requires some nuance. There is not a one-size-fits-all answer to the question, other than investors likely “threw out the baby with the bath water” when they crushed all software stocks in early 2026. Although some legacy software companies will be disrupted, top-quality SaaS players will survive and even thrive because they have:
1. Data: Legacy software platforms hold years of transaction history, customer logs, and deeply entrenched data.
2. Compliance: Although AI coding assistants can build a custom CRM from scratch, Fortune 500 companies rely on legacy software companies because of their legal accountability and enterprise security.
3. AI Integration: Top software firms are successfully integrating AI into their existing products. These software companies benefit from built-in distribution.
Finally, one of the main bearish arguments is that agentic AI systems will mean the end of seat-based monetization. However, top AI companies like Anthropic and OpenAI are leveraging the seat-based monetization structure themselves, undercutting the bearish argument.
Software Earnings: Words Talk, Data ScreamsIf software companies are being disrupted, it certainly hasn’t shown up in corporate earnings yet. Last week, Figma ((FIG - Free Report) ) beat Zacks Consensus Estimates by 66%, signaling that AI remains incapable of high-level strategy, cross-functional empathy, or complex brand identity.
Image Source: Zacks Investment Research
Additionally, ServiceNow ((NOW - Free Report) ) is another quality software company showing few signs of slowing.While shares have declined over the past year,they are up nearly 10% today after an analyst upgrade. Meanwhile, although NOW shares are down, Wall Street analysts see steady earnings growth into the end of the decade.
Image Source: Zacks Investment Research
AI-native platform expansion, rising adoption of agentic capabilities, a growing customer base, acquisitions, and cash generation support NOW’s revenue durability over time.
Shrinking Valuations & Share BuybacksIndustry juggernaut Salesforce ((CRM - Free Report) ) recently announced that it will buy back ~250 million shares or ~$50 billion worth of stock. The buyback announcement is one of the largest on Wall Street and signals that CEO Marc Benioff has confidence in his company. Additionally, the buyback will reduce the share count, making the supply-demand dynamics more attractive for bulls. Meanwhile, with a p/e ratio of just 13.82x, CRM has become extremely attractive from a valuation perspective.
Image Source: Zacks Investment Research
MSFT Tags 200-week MACharlie Munger once famously said, “If all you ever did was buy high-quality stocks on the 200-week moving average, you would beat the S&P 500 by a large margin over time. The problem is that very few people have the kind of discipline to stick with it.” Microsoft ((MSFT - Free Report) ) shares recently found buyers at the 200-week moving average – a level that has held since the Global Financial Crisis of 2008.
Image Source: Zacks Investment Research
Bottom Line
Ultimately, Wall Street’s blanket punishment of the software sector has created a classic “baby out with the bathwater” scenario. Software stocks have decoupled from the S&P 500’s rally amid fears of AI disruption. However, recent software earnings reports suggest that the death of high-quality software companies is overexaggerated – especially given current valuations.
The headlines belong to AI and semiconductors right now. Chips are soaring, data center buildout stocks are making new highs, and the momentum crowd is firmly in control. But underneath the surface of a market that looks healthy, something odd is happening. The new-low list has been outrunning the new-high list even as the S&P 500 pushes above 7,500. That's not a healthy market. That's a narrow one.
Jeff Clark of TradeSmith has seen this setup before. His read: when gains concentrate in a thin slice of the market, the rotation trade is coming. And when it does, the money that rushes out of the hot names has to land somewhere. He thinks it lands in stocks that have already been left behind—and he has three specific names in mind.
Get KTOS alerts:
The Setup: When Enthusiasm Gets Discounted to InfinityThe bull case for AI stocks isn't fiction. Real money is flowing into data centers, chips, and infrastructure. The question Clark is asking is a different one: for how long? Once a data center is built, you don't build another one next door. Memory chips are a cyclical commodity—yet the market has priced them as if the cycle has been suspended permanently. Clark's view is that the market is extrapolating today's spending to infinity, and that a correction is overdue. That doesn't mean the AI trade is over. It means the easy money in the hot names may already be made, and the opportunity is now sitting in the stocks no one is talking about.
Figma: A Software Survivor Priced Like a CasualtyFigma Today
$18.80 -0.99 (-4.99%)
As of 11:01 AM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$16.60▼
$142.92Price Target$38.63
Figma NYSE: FIG went public at $33 a share, shot to more than $140, and has since retraced nearly all of those gains—spending time near $20 before a recent earnings pop pushed it back above $22. The surface-level read is that software is under pressure from AI, and Figma is getting caught in that tide. Clark's read is almost the opposite.
Figma isn't being destroyed by AI. It's integrating it. The platform, used by designers and product teams to build digital products and prototypes, has leaned into AI tooling rather than ignoring it, and the results are showing up in the numbers. The company's user base is growing more than 50% year-over-year, and its most recent earnings report came in at 10 cents per share against an expected loss of 17 cents. Net dollar retention has climbed to 139%, meaning existing customers are spending more. Revenue growth is accelerating, not slowing.
For Clark, the thesis is simple: the stock was never worth $140, but it was also never worth being abandoned. Near $20, it's pricing in too much fear and not enough of what the business is actually doing. His target entry is around that level, and he sees it as a name worth holding for the long run.
Kratos Defense: A Drone Pure-Play That Got Ahead of ItselfKratos Defense & Security Solutions Today
KTOS
Kratos Defense & Security Solutions
$55.27 +0.45 (+0.83%)
As of 11:01 AM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$39.00▼
$134.00P/E Ratio326.82
Price Target$96.28
The defense budget expansion story is real, and Kratos Defense & Security Solutions NASDAQ: KTOS sits right at the center of it. The company's unmanned aerial systems—jet-powered drones, hypersonic vehicles, and related defense technology—have the Department of Defense as their primary customer, and that customer is spending aggressively. Kratos reported 22.6% revenue growth in its most recent quarter, with a record backlog and raised full-year guidance.
But the stock ran from roughly $35 a year ago to $120 at its peak, and then gave most of it back. It's trading near $53 today, which Clark acknowledges is not cheap on traditional metrics. This is not a value stock in the Graham-and-Dodd sense. What it is, he argues, is a growth stock with earnings expanding north of 45% annually, trading at a steep discount to where market enthusiasm put it just a few months ago.
Clark's preferred entry is closer to $45 to $50. The defense sector as a whole has pulled back from early-2026 highs as investors wait for the spending surge to show up more aggressively in earnings. Clark sees that patience as the setup. Drone technology spending isn't going away, and the pullback creates a better entry than anything available when KTOS was making headlines at the top.
SoundHound AI: Round-Trip Ticket, Better DestinationSoundHound AI Today
$6.66 -0.09 (-1.35%)
As of 11:01 AM Eastern
This is a fair market value price provided by Massive. Learn more.
52-Week Range$5.83▼
$22.17Price Target$14.93
SoundHound AI NASDAQ: SOUN has put investors through a full round trip. A year ago, the stock was trading near $8, ran all the way to the low $20s on AI enthusiasm, and has since come back down to roughly $8. Anyone who bought near the top knows exactly how painful that ride has been.
But Clark's focus isn't on where the stock has been; it's on whether this entry price makes sense relative to what the company is building.
SoundHound's technology is the conversational AI voice layer embedded in cars, restaurant kiosks, and consumer devices—the software that responds when a driver asks for the nearest gas station or a customer places a voice order. The company is not yet profitable. What it is, Clark says, is doing the right things operationally: growing revenue, expanding into new verticals, and positioning itself as the leading pure-play on voice AI at a price point that reflects none of that potential. At $8, the stock is trading where it was before the original wave of AI enthusiasm, and the business is meaningfully larger now than it was then.
The risk is real, as profitability is still quarters away at minimum, and the stock has shown it can be volatile in both directions. But for investors who believe voice AI will become embedded infrastructure, Clark's argument is that the round trip back to $8 is exactly the kind of entry point that "buy low, sell high" was invented for.
The Bigger PictureThe three names share a common thread: each ran hard on genuine enthusiasm, pulled back further than the fundamentals justify, and now sits in the uncomfortable zone where patience is required. That discomfort is the point. The stocks generating today's headlines are priced for perfection. These aren't—and for investors willing to wait for the rotation Clark sees coming, that gap may be exactly where the opportunity lives.
Should You Invest $1,000 in Kratos Defense & Security Solutions Right Now?Before you consider Kratos Defense & Security Solutions, you'll want to hear this.
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Figma is upgraded to a buy after a Q1 beat and raised outlook, reversing prior caution. FIG demonstrates hypergrowth with 43% y/y revenue growth, targeting over $1.4 billion in revenue this year. Retention remains robust near 140% net expansion, aided by cross-selling and upmarket customer focus.
Figma has defied AI disruption fears, posting 46% YoY revenue growth and accelerating net dollar retention to 139%. Consensus estimates appear too conservative; I expect further upside as FIG transitions to a usage-based model and leverages AI tailwinds. FIG maintains a bulletproof balance sheet with $1.6 billion in cash and no debt, supporting continued investment and margin expansion.
Calls for Management to Sharpen Product Focus and Rationalize Costs in Line with Competitors
Calls for Board to Examine Relationship with Anthropic Given Launch of Claude Design
, /PRNewswire/ -- Findell Capital Management LLC, ("Findell Capital" or "Findell"), which beneficially owns shares of common stock of Figma, Inc. (NYSE: FIG) (the "Company" or "Figma"), today issued the following letter to the CEO and Board of Directors of Figma, as well as an accompanying report (see here).
Findell believes that Figma has a strong moat that investors will come to appreciate over the coming months. That said, Findell contends that there are several steps that Figma could take today to maximize its shareholder value:
1) Enhance focus in the product organization by simplifying its offering
2) Rationalize costs so they are in line with peers
3) Conduct a governance review of the Board dynamics in light of the Claude Design launch
We outline these points in our letter below and in our report (see here).
Dear Mr. Field and Members of the Board of Directors:
We and our affiliates are shareholders of Figma, Inc. ("Figma" or the "Company"). We have great admiration for the product and the design movement Figma has built and believe that Figma has a true moat, all of which we articulated in a write-up we put out this morning (see here).
We write to the Board to respectfully offer ways Figma could further improve its long-term positioning as a publicly traded company:
1) Product Positioning and Leadership
We believe there is an opportunity to streamline the Figma product portfolio and also upgrade the product organization with seasoned leadership. Figma should further focus its product suite on Design, Dev Mode, FigJam, and Make, and sunset or repackage the remaining products. This would enable Figma to focus its engineering and product resources on building the strongest moat around its core franchise. This would allow the company to accelerate product velocity in its highest-value workflows, and sharpen the company's marketing narrative against new entrants.
2) Cost Rationalization
We would suggest that Figma bring its compensation practices more in line with industry norms and also align its cost base with scaled SaaS peers over time. Estimates call for R&D to exceed 30% of revenues in 2026 (exclusive of stock-based compensation).1 We believe this number should be meaningfully reduced as product focus narrows. Figma should rely on a mix of internal R&D and tuck-in outsourced R&D by way of acqui-hires. Analyst estimates call for Figma to spend ~$375mm or 27% of revenues on stock-based compensation in 2026,1 as compared to Adobe, which spent ~8% of revenues on stock-based compensation in its most recent quarter.2 This comparison is particularly stark because we believe Figma stock has more upside than Adobe on a relative basis.
3) Board Governance
We were concerned by some of the recent developments on the Figma Board. Mr. Krieger (Anthropic's Chief Product Officer) resigned from the Board on 4/14/26.3 On 4/17/26, Anthropic released Claude Design, a product which directly competes with Figma.4 This pattern of events raises serious corporate governance concerns. It appears that there are two Board Members remaining on the Figma Board who are material investors in Anthropic.5,6 We believe the Board should conduct an independent investigation to evaluate whether Anthropic benefitted from any improper use of Figma's confidential information.
It may be appropriate to consider refreshing the membership of the Board in light of these potential conflicts.
We believe Figma is a generational company and is being misunderstood by the market. Improving margins and governance will help unlock additional value alongside continued business execution and help the market better understand what a great asset it is.
Sincerely,
Brian Finn
Findell Capital
88 Pine Street, 22nd Floor
New York, New York 10005
THIS COMMUNICATION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT A RECOMMENDATION, AN OFFER TO PURCHASE OR A SOLICITATION OF AN OFFER TO SELL SHARES.
THIS COMMUNICATION CONTAINS OUR CURRENT VIEWS ON THE VALUE OF FIGMA SECURITIES AND CERTAIN ACTIONS THAT FIGMA MAY TAKE TO ENHANCE THE VALUE OF ITS SECURITIES. OUR VIEWS ARE BASED ON OUR OWN ANALYSIS OF PUBLICLY AVAILABLE INFORMATION AND ASSUMPTIONS WE BELIEVE TO BE REASONABLE. THERE CAN BE NO ASSURANCE THAT THE INFORMATION WE CONSIDERED AND ANALYZED IS ACCURATE OR COMPLETE. SIMILARLY, THERE CAN BE NO ASSURANCE THAT OUR ASSUMPTIONS ARE CORRECT. FIGMA'S PERFORMANCE AND RESULTS MAY DIFFER MATERIALLY FROM OUR ASSUMPTIONS AND ANALYSIS.
OUR VIEWS AND OUR HOLDINGS COULD CHANGE AT ANY TIME. WE MAY SELL ANY OR ALL OF OUR HOLDINGS OR INCREASE OUR HOLDINGS BY PURCHASING ADDITIONAL SECURITIES. WE MAY TAKE ANY OF THESE OR OTHER ACTIONS REGARDING FIGMA WITHOUT UPDATING THIS COMMUNICATION OR PROVIDING ANY NOTICE WHATSOEVER OF ANY SUCH CHANGES (EXCEPT AS OTHERWISE REQUIRED BY LAW).
1 Piper Sandler 4/28 Report on Figma Titled: 1Q26 Preview: Framing Up a Strong Quarter; AI Competition Front and Center
2 https://www.adobe.com/cc-shared/assets/investor-relations/pdfs/21306202/ay45th643t5y46.pdf
3 https://www.sec.gov/Archives/edgar/data/1579878/000162828026025127/fig-20260414.htm
4 https://www.anthropic.com/news/claude-design-anthropic-labs
5 https://thenextweb.com/news/sequoia-joins-anthropics-25b-funding-round
6 Kleiner Perkins firm materials, kleinerperkins.com (accessed May 2026)
Contact:
Findell Capital Management, LLC
88 Pine Street, 22nd Fl.
New York, NY 10005
[email protected]
Investment firm Goldman Sachs recently cut the price target on Figma (FIG 3.59%) to $30 per share, down from $35. In a sense, this should not come as a surprise, as the stock declined soon after its initial public offering (IPO) in July of last year and has traded in a range since March.
Nonetheless, investors should also remember that the software-as-a-service (SaaS) stock has fallen 80% since topping $120 shortly after the company went public. Instead of signaling further pain, history shows such actions sometimes signify a bottom following a sustained decline. That may be the case with Figma stock, signifying a buying opportunity that could become lucrative for investors.
Image source: Getty Images.
Putting the Figma price target cuts into perspective Figma has stood out for creating a design tool for interactive website and app design. It successfully combined artificial intelligence (AI) and human interaction into this process, making it so valuable that Adobe once attempted to buy the company.
That momentum helped make its IPO initially successful, though as mentioned before, the stock has sold off amid its high valuation and fears of competition from AI. That downtrend could have played a role in a series of price target cuts by Goldman Sachs, which originally set a $48-per-share price target on the stock during last summer's IPO.
Today's Change
(
-3.59
%) $
-0.71
Current Price
$
19.08
As strange as it may sound, this could signal beaten-down Figma stock has become a buy. Goldman Sachs target represents potential upside of more than 25%.
Additionally, price target cuts for Apple in 2019 and Netflix in 2022 preceded rapidly rising stock prices in the months after the stocks experienced significant declines. In Apple's case, the rapid growth of its services business and optimism regarding 5G helped rescue the stock after price target cuts based on weakening device sales. With Netflix (which also included downgrades), a valuation below 20 times earnings eased investor worries after subscriber numbers fell.
Figma's current conditions show parallels to both of those stocks. In the first quarter of 2026, the 46% year-over-year increase in revenue implies growth is not currently a challenge. While it is not yet profitable, it also reported free cash flow of $89 million for the quarter.
Furthermore, Figma now trades at a price-to-sales (P/S) ratio of around 10. This is down from its 66 sales multiple just after its IPO and is closer to the P/S ratios of other rapidly growing companies. Thus, instead of selling, now might be a time to take another look at Figma stock.
Investing in Figma stock after the price target cut Ultimately, Figma appears to have experienced a "bullish price target cut."
Admittedly, bulls do not like to witness falling price targets, and negative sentiment tends to beget more selling.
However, its current price target would still amount to significant growth, and downgrades aren't always followed by falling stock prices. In my view, the historical indicators imply that the sell-off in Figma stock could soon come to an end.
Will Healy has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Adobe, Apple, Figma, Goldman Sachs Group, and Netflix. The Motley Fool recommends the following options: long January 2028 $330 calls on Adobe and short January 2028 $340 calls on Adobe. The Motley Fool has a disclosure policy.
