Jefferies analyst Andy Barish reiterated a Hold rating and $40 price target on Shake Shack (NYSE: SHAK) following Q4 results.

Barish commented, "SHAK reported its first quarter as a public company, with a strong top line & slight margin pressure as expected. Revenue growth was torrid with 7.2% SSS (vs our 4%) & over 50% total growth. SHAK is staying ahead of its development plans, something we like to see in early stage roll-out stories and reiterated its LT guide of 20%+ rev & EBITDA gr. With valuation at an all-time restaurant record high at ~ 100x 16 EV/EBITDA, we remain on the sidelines at Hold.

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Shares of Shake Shack closed at $46.90 yesterday.