First Watch Adds Tech-Focused Director After Advent Exit

The latest update is out from First Watch Restaurant Group ( (FWRG) ).

On December 23, 2025, First Watch Restaurant Group announced the immediate resignations of directors Tricia Glynn and David Paresky, both tied to the exit of Advent International’s equity investment in the company, with the board emphasizing that there were no disagreements related to operations, policies or practices and simultaneously reducing its size from ten to nine members. On the same day, the board appointed technology entrepreneur and MikMak founder and CEO Rachel Tipograph as a Class II director, effective December 29, 2025, underscoring First Watch’s push to deepen its capabilities in digital transformation and customer acquisition as it continues to scale its daytime dining brand nationwide.

The most recent analyst rating on (FWRG) stock is a Buy with a $23.00 price target. To see the full list of analyst forecasts on First Watch Restaurant Group stock, see the FWRG Stock Forecast page.

Spark’s Take on FWRG Stock

According to Spark, TipRanks’ AI Analyst, FWRG is a Neutral.

First Watch Restaurant Group’s overall stock score is driven by strong revenue growth and operational improvements highlighted in the earnings call. However, significant challenges in profitability, high leverage, and overvaluation weigh heavily on the score.

To see Spark’s full report on FWRG stock, click here.

More about First Watch Restaurant Group

First Watch Restaurant Group, Inc. is a U.S.-based restaurant operator and franchisor that positions itself as the leading daytime dining concept, specializing in made-to-order breakfast, brunch and lunch. Guided by its “Follow the Sun” culinary philosophy, the company rotates a chef-driven menu multiple times a year to highlight seasonal ingredients, and has built a national footprint of more than 620 restaurants across 32 states, earning numerous “Best Breakfast” and “Best Brunch” accolades and strong brand recognition among daytime diners.

Average Trading Volume: 1,189,524

Technical Sentiment Signal: Sell

Current Market Cap: $971M

Find detailed analytics on FWRG stock on TipRanks’ Stock Analysis page.