- Millennials are buying shares of Starbucks six times faster than they’re selling on the trading app StockPile.
- The coffee giant will report earnings after the closing bell Thursday.
Millennials famously love their coffee.
They also love buying stock in the US’ largest coffee chain, data from investing app Stockpile show.
Ahead of Starbucks’ earnings report after the bell Thursday, young investors are buying shares of the coffee chain six times more than selling them on the app. The stock is its 23rd most popular, StockPile said.
StockPile allows investors to trade fractional shares of companies that would otherwise be much more expensive at face value.
Wall Street analysts are similarly bullish on Starbucks ahead of its report, with a consensus target of $US64 for the stock – 6% above its closing price Wednesday.
The company is expected to post earnings of $US0.573 per share on revenue of $US6.204 billion. Its stock has only risen 3.6% in the last year.