Is $CAKE still undervalued and why has it gone up 6% in the past two days?

I've been investing for less than a 12 months so there is still a lot I am learning. $Cake has been suggested by a a few people in this sub and it's done decent for me but cake releases earnings today after market hours so I thought there would be a big fall or increase in the aftermarth. Why would there be two big increases in the two days leading up to it? How can investors anticipate their earnings? Is it still undervalued?