Wingstop Q1 Revenue Rises 7.4% but Comps Drop 8.7%, Price Target Hits $235
WING•Wingstop posted Q1 revenue growth of 7.4% to $183.7 million and system-wide sales rose 5.9% to $1.40 billion, driven by 97 net new restaurants. Domestic comparable store sales fell 8.7%, prompting the company to cut 2026 comps guidance to a low-single-digit decline, while Barclays raised its price target to $235.
1. Mixed Q1 Results
Wingstop reported first-quarter revenue of $183.7 million, up 7.4% year-over-year, while system-wide sales increased 5.9% to $1.40 billion, driven by the opening of 97 net new restaurants, although results trailed analyst estimates and led to a pullback in the stock.
2. Comparable Store Sales Decline
Domestic comparable store sales declined 8.7% as consumer spending pressures, weather disruptions and elevated gas prices weighed on traffic at legacy locations.
3. Updated Guidance and Price Target
Following the weaker comps, management trimmed its 2026 domestic comparable store sales forecast to a low-single-digit decline and Barclays raised its price target to $235, signaling a potential 37.26% upside.
