Sweetgreen, Inc. (NYSE:SG) Receives $8.22 Average Target Price from Analysts

Sweetgreen, Inc. (NYSE:SG) has received an average rating of “Hold” from the eighteen brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.2214.

A number of equities research analysts have recently issued reports on SG shares. The Goldman Sachs Group upped their price objective on Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. UBS Group decreased their target price on shares of Sweetgreen from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Sanford C. Bernstein set a $7.00 target price on shares of Sweetgreen in a report on Wednesday, January 7th. Morgan Stanley dropped their price target on shares of Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada cut their price target on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Friday, February 27th.

Insider Transactions at Sweetgreen

In other news, insider Nicolas Jammet bought 4,428 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was acquired at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the purchase, the insider owned 22,543 shares of the company’s stock, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 19.78% of the company’s stock.

Institutional Trading of Sweetgreen

Several institutional investors and hedge funds have recently bought and sold shares of SG. RPG Investment Advisory LLC lifted its stake in shares of Sweetgreen by 33.2% during the 3rd quarter. RPG Investment Advisory LLC now owns 616,191 shares of the company’s stock worth $4,916,000 after buying an additional 153,525 shares during the last quarter. Greenhouse Funds LLLP acquired a new position in Sweetgreen in the 2nd quarter valued at about $32,122,000. Spyglass Capital Management LLC raised its holdings in Sweetgreen by 15.2% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock valued at $58,029,000 after acquiring an additional 513,643 shares during the period. Citigroup Inc. raised its holdings in Sweetgreen by 75.8% in the 3rd quarter. Citigroup Inc. now owns 531,171 shares of the company’s stock valued at $4,239,000 after acquiring an additional 228,961 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in Sweetgreen during the third quarter worth approximately $4,527,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

Shares of NYSE SG opened at $5.34 on Monday. The business has a 50-day moving average of $6.28 and a 200-day moving average of $6.96. The stock has a market capitalization of $631.50 million, a price-to-earnings ratio of -4.68 and a beta of 1.93. Sweetgreen has a fifty-two week low of $4.99 and a fifty-two week high of $27.15.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The company had revenue of $155.19 million for the quarter, compared to the consensus estimate of $159.59 million. Sweetgreen had a negative return on equity of 32.26% and a negative net margin of 19.73%.The business’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.25) EPS. On average, sell-side analysts expect that Sweetgreen will post -0.74 EPS for the current year.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.