Why Is Noodles (NDLS) Stock Rocketing Higher Today
What Happened:
Shares of casual restaurant chain Noodles & Company (NASDAQ:NDLS) jumped 8.6% in the morning session after the company reported third-quarter results, which beat Wall Street's expectations for same-store sales, revenue, and EPS. Full year guidance was tweaked, but there were no significant changes. For example, full year revenue guidance was reduced by just $1mm at the midpoint (on ~$500 million of total revenue), same store sales were maintained, and margins were raised slightly. Overall, this quarter's results seemed fairly positive, and shareholders should feel optimistic.
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What is the market telling us:
Noodles's shares are not very volatile than the market average and over the last year have had only 29 moves greater than 5%. In context of that, today's move is indicating the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
Noodles is down 54.9% since the beginning of the year, and at $2.50 per share it is trading 61.9% below its 52-week high of $6.55 from February 2023. Investors who bought $1,000 worth of Noodles's shares 5 years ago would now be looking at an investment worth $267.70.
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