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No matter how good you are at stock trading or investing, it's inevitable that you will miss out on some opportunities. On the other hand, part of the magic of investing is that another opportunity is always waiting around the corner. For example, if you have been kicking yourself for missing out on Chipotle, CNBC stock guru Jim Cramer may have found the next one. Keep reading to find out why he loves CAVA restaurant stock.

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CAVA (NYSE: CAVA) offers Mediterranean-style cuisine in a fast-casual environment reminiscent of Chipotle. Jim Cramer recently rated CAVA number 2 on his Top 10 Best Performing Stock List. Cramer justified this high rating by saying, "This casual dining chain aspires to be the Mediterranean version of Chipotle. It’s up over 242% for the year, including today’s 1.5% gain."

Cramer also mentioned CAVA's strong Q3 2024 earnings report when he noted, "At one point, it was up so much more because the same-store sales were up 18% and Wall Street was only looking for 12.4%. The best thing about Cava is that it was indeed accessible. Many of you have eaten there and enjoyed it." CAVA's Q3 2024 earnings also showed strong performance in other areas.

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Same-store sales rose nearly 20%, while customer volume grew by 13% in the quarter. That powered a 39% jump in revenue, reaching $241.5 million for the quarter. However, it's CAVA's future that has Cramer excited. This chain is in the middle of an expansion plan and added 11 new locations in Q3 2024, boosting its nationwide total to 352. In Q3 2023, CAVA had 279 locations.

Mediterranean food is known for being flavorful and healthy, with numerous vegetarian options (e.g., falafel, tabouleh, hummus, salads). This gives CAVA a wide potential customer base everywhere it opens. It's one of those restaurants that fits into the "Goldilocks" zone of being relatively affordable and having a little something for everyone on the menu.

CAVA's combination of freshness, value and universal appeal is similar to Chipotle's, so Cramer and many other analysts are bullish on its future. Currently, CAVA's market cap sits at an estimated $16.59 billion, which is impressive but well short of Chipotle's. However, Jim Cramer thinks it has the potential to get there.

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Cramer summed up his belief in CAVA by saying, "Who's to say that the $17 billion chain might not eventually make its way to Chipotle's levels, which is over $80 billion?" CAVA shares are trading at $145. The current price reflects a massive upward spike from its Nov. 22, 2023, share price of $34.30. This represents an astonishing 323% increase from CAVA’S Nov. 22, 2023 price. Analysts at Morgan Stanley, Citigroup and Barclays have issued a "Buy Now" rating for CAVA.

CAVA is currently not paying dividends, so this isn't a stock to buy if you're looking for passive income. Potential risks include overexpansion or a downturn in the economy that causes diners to scale back on eating out. If you have always regretted missing out on Chipotle, CAVA might be your next opportunity to buy a hot restaurant stock.

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This article Don't Fret Over Missing Out On Chipotle – Jim Cramer Thinks This Stock (CAVA) Is The Next Big Restaurant Chain originally appeared on Benzinga.com