Advan Notable Hit: Darden Restaurants, Inc. (DRI)

September 24, 2021 By Valantis Aristeidous Tags: FINANCIAL-TRENDS, ADVAN HITS

(DRI:NYSE) On Thursday September 23, 2021 Darden Restaurants, Inc. (DRI) posted better-than-expected revenues of $2.31bn beating the consensus estimate of $2.24bn (-3.1%) and in the same direction as Advan's forecasted sales. The revenue was +51.2% YoY - Advan's foot traffic data captured an increase in foot traffic of +56.4% YoY at its restaurants for Q1 2022. As a result of beating the sales and EPS, the stock opened at $159.34, up +6% from its previous day's closing price and set an all-time high of $164.28 during the trading session. Advan's footfall data has a correlation of 0.98 on a YoY basis with DRI's top-line revenue over the last 11 quarters.

Advan Hits: DRI correlation traffic vs revenue

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About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.