Wingstop

WING · NASDAQ

$130.31−$2.44 (−1.84%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $132.75

WING analyst rating

BuyConsensus of 24 analysts over the last 12 months. 79% rate it a buy.

Strong buy1
Buy18
Hold5
Underperform0
Sell0

12-month price target · 28 analysts

Average $201.76 (+54.8% upside)

Low: $121.20
Now: $130.31
High: $278.25

Upgrades and downgrades

The latest rating actions, newest first

WING analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
StoneX	Oct 20, 2026	Maintains	Buy	$245.00 → $185.00	38%
Citigroup	Oct 16, 2026	Maintains	Buy	$208.00 → $191.00	57%
Morgan Stanley	Oct 15, 2026	Maintains	Overweight	$238.00 → $202.00	59%
RBC Capital	Sep 17, 2026	Maintains	Outperform	$200.00 → $150.00	27%
TD Cowen	Sep 11, 2026	Maintains	Hold	$160.00 → $120.00	33%
Bernstein	Aug 3, 2026	Downgrade	Outperform → Market Perform	$220.00 → $155.00	33%
Benchmark	Jul 30, 2026	Maintains	Buy	$285.00 → $245.00	38%
Citigroup	Jul 30, 2026	Maintains	Buy	$237.00 → $208.00	57%
RBC Capital	Jul 30, 2026	Maintains	Outperform	$225.00 → $200.00	27%
DA Davidson	Jul 30, 2026	Maintains	Buy	$200.00 → $190.00	18%

The case for and against

Updated Oct 14, 2026

Bull case

Wingstop is supported by strong franchise demand, with unit growth still running in the mid-teens and management visibility extending into 2027, while 2025 system sales reached $5.3 billion across 3,056 stores. Its asset-light model is compelling because 98% of units are franchised, cash-on-cash returns remain above 60% and were still estimated at 46% even after 2025 softness, and franchisees are funding incremental local advertising with limited risk to the company. Near-term sales have improved on promotions, loyalty, and transaction recovery, while brand awareness has climbed to roughly 85%, leaving room for continued digital, menu, and international expansion to drive long-term royalty and advertising growth.

Bear case

Wingstop is facing a negative outlook because transaction data and checks point to persistent same-store sales pressure, with 2Q26 transactions still down high-single digits and sales likely in the negative mid-single digits despite promotions, a loyalty launch, and World Cup-driven traffic. The brand’s exposure to low-income, Hispanic, younger, and liberal consumers makes it especially vulnerable to macro stress, while weaker average checks, higher gas prices, and a pullback from value-heavy 3P promotions suggest recovery is fragile. Even with an asset-light 98% franchise model and about 70% cash/cash returns, the analyst sees risk to 2027 U.S. development and EBITDA growth if sales do not reaccelerate soon.

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