Shares of Kura Sushi USA, Inc. (KRUS) plummeted by 9.16% on November 7, 2024, following the release of the company's quarterly results for the period ending August 31, 2024. The Japanese restaurant chain reported an adjusted loss of $0.46 per share, missing analysts' expectations of breakeven results.

Despite the earnings miss, Kura Sushi's revenue rose by 20.2% year-over-year to $66.01 million, slightly exceeding Wall Street's projections. However, the company's net loss for the quarter widened to $5.2 million, compared to a profit in the same period last year.

Barclays analyst Jeff Bernstein assigned a "Hold" rating to Kura Sushi and set a price target of $70, indicating a cautious outlook for the company's near-term performance. On the other hand, Craig-Hallum raised its price target on the stock to $120 from $85, maintaining a "Buy" rating and expressing confidence in the company's long-term growth prospects.