Back to top

Image: Bigstock

Dutch Bros' Surges 67% in 3 Months: Is the Stock Still a Buy?

Read MoreHide Full Article

Dutch Bros Inc. (BROS - Free Report) , a high-growth operator and franchisor of drive-thru shops, has carved a niche in the quick service beverage industry with its focus on high-quality, hand-crafted beverages delivered with unparalleled speed and superior service.

Over the past three months, BROS has outperformed its peers, including Brinker International, Inc. (EAT - Free Report) , Kura Sushi USA, Inc. (KRUS - Free Report) and McDonald's Corporation (MCD - Free Report) . The stock has surged an impressive 67.1% against the Zacks Retail - Restaurants industry’s 5.6% decline.

The company’s performance has been fueled by robust same-store sales growth, a disciplined store expansion strategy and improved operational efficiencies. Dutch Bros' ability to balance aggressive unit growth with strong unit-level economics has driven investor optimism. This and the focus on innovation, increased paid advertising (aimed at boosting brand awareness) and more targeted rewards program efforts program have added to the positives.

3 Months BROS Stock Price Performance

Zacks Investment Research
Image Source: Zacks Investment Research

Technical indicators suggest continued strong performance for BROS. As of Friday, Dutch Bros' stock was trading above its 50-day moving average of $49.88 and its 200-day moving average of $38.42. The technical strength underscores positive market sentiment and confidence in BROS’ financial health and prospects.

BROS Stock Trades Above 50 & 200-Day Moving Averages

Zacks Investment Research
Image Source: Zacks Investment Research

Let’s break down the key factors fueling Dutch Bros’ rise and assess whether it’s still a smart pick for the future.

What's Brewing Behind BROS’ Stock Growth?

Several strategic initiatives and positive market developments have strengthened investor confidence in BROS stock.

Dutch Bros continues to capture consumer interest with innovative offerings and marketing strategies. Recent menu additions like the Cookie Butter Latte and Caramel Apple Rebel have driven customer traffic, while creative promotions, including collectible sticker giveaways, have supported high brand engagement.

Dutch Bros is observing a positive impact from mobile ordering on its financial performance. Customers using the mobile order platform have increased their purchase frequency by approximately 5%. Mobile orders currently account for about 7% of the company's total channel mix. In certain U.S. markets, mobile order penetration exceeds double the system-wide average. Additionally, these markets are experiencing stronger same-store transaction growth, driven by a combination of targeted advertising, mobile order adoption, and strategic market planning.

Dutch Rewards membership continues to expand, contributing to increased customer frequency. More than 1 million new members joined in the third quarter of 2024, pushing loyalty-driven transactions to account for 67% of total sales. Enhanced data analytics are helping the company personalize offers, further strengthening customer retention and spending.

Dutch Bros' aggressive expansion is a key growth driver. In the most recent quarter, the company added 38 new locations, bringing the total store count to 950. BROS is well-positioned to maintain its growth trajectory. The company's focus on optimizing its real estate strategy, enhancing shop productivity and improving capital efficiency reinforces its long-term growth potential.

What Next for Dutch Bros?

Dutch Bros is poised to build on its momentum with a strategic focus on long-term growth. In 2025, the company plans to open at least 160 new shops, with accelerated growth expected in 2026. It remains confident in its long-term growth prospects, supported by strong revenue, innovation, advertising, and an expanding mobile order base.

In addition to scaling its footprint, Dutch Bros plans to further leverage technology investments, including mobile ordering enhancements and personalized loyalty program offerings, to drive customer engagement and sales. Additionally, Broistas has embraced mobile orders, providing excellent service with a high order accuracy rate of nearly 95%. Tip rates for mobile orders also exceed those of other channels.

Dutch Bros is testing food offerings, presenting a significant untapped revenue stream. Although food currently represents less than 2% of total sales, ongoing trials point to promising opportunities that could enhance the customer experience and boost average check sizes.

As operational efficiencies improve and new markets open up, Dutch Bros is well-positioned to capture a larger share of the competitive specialty coffee market, making its next phase of growth a critical watch point for investors.

The Zacks Consensus Estimate for Dutch Bros’ 2025 earnings per share has climbed from 56 cents to 58 cents in the past 60 days, signaling optimism about the company’s future.

Zacks Investment Research
Image Source: Zacks Investment Research

BROS Premium Valuation: A Concern or a Signal?

Dutch Bros’ forward 12-month price-to-sales (P/S) ratio of 5.73 far exceeds the industry average of 3.82. While this suggests the stock is overvalued, it also reflects investor confidence in its growth potential.

Zacks Investment Research
Image Source: Zacks Investment Research

Conclusion: Should You Invest in BROS?

Dutch Bros’ impressive growth, fueled by innovation, digital transformation, and aggressive expansion, makes it an appealing choice for growth-oriented investors. While its premium valuation may give some pause, the company’s strong momentum and long-term growth strategies present a compelling opportunity.

For those willing to embrace a high-growth stock in the quick-service beverage space, we believe that this Zacks Rank #2 (Buy) stock is an ideal candidate for the respective investor's portfolio addition. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Published in