If you’re been waiting for a pullback in get into Starbucks , the Fast pros say it’s here.
Shares of Starbucks slipped almost 5% in extended trade after the java giant released results that called the stocks sharp march higher into question. Year to date Starbucks has gained more than 30%.
“They beat, but the beat wasn’t as big as needed to keep the mojo going," says Fast Money trader Guy Adami. "They’re a victim of their own success. They needed to crush and they didn’t do it. But growth is still accelerating. On the pullback, I think the Starbucks is a buy.”
The concerning metric involved sales from Europe – they fell 1 percent. Analysts polled by Consensus Metrix were expecting same-stores sales to rise 2.2 percent in Europe.
Also, Starbucks Chief Financial Officer Troy Alstead said the economy in Europe is "challenging".
But all that talk about Europe may be distracting investors from a more meaningful metric.
