Despite a big rally following Q4 earnings, one can argue that Zoe's Kitchen (ZOES) isn't even overvalued now. The stock surged from below $30 prior to earnings on Thursday to a high of $37 on Monday. The incredible move was fueled by better than expected comp sales of 7.7% and a big reduction to cost of sales for the quarter. The healthy restaurant concept has a market valuation of only $677 million with sales forecasted to reach $280 million. The concept going regional to national only trades for roughly 2.4x sales estimates. With a decade of expansion ahead, Zoe's Kitchen can easily retest the highs of last year around $45. Some investors will focus on the net income line, but the concept is too early in the growth phase for such a focus. With only 163 company-owned stores at year end, Zoe's is a long-term hold though the stock action today suggests looking for a dip back to $32 before loading up. $ZOES, Zoe's Kitchen, Inc. / 1440 Disclosure: Long ZOES