Sweetgreen, Inc. (NYSE:SG) Given Average Rating of “Moderate Buy” by Analysts

Sweetgreen, Inc. (NYSE:SG) has been assigned a consensus recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $31.00.

Several research firms have weighed in on SG. The Goldman Sachs Group cut their target price on Sweetgreen from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Oppenheimer decreased their price target on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. reduced their target price on Sweetgreen from $25.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, May 12th. TD Securities reiterated a “buy” rating and set a $25.00 price target on shares of Sweetgreen in a research note on Thursday. Finally, UBS Group cut their price target on Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, May 5th.

Insider Buying and Selling

In other news, CFO Mitch Reback sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total transaction of $84,280.00. Following the completion of the transaction, the chief financial officer now directly owns 344,509 shares in the company, valued at $7,258,804.63. The trade was a 1.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Rossann Williams sold 4,977 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the transaction, the chief operating officer now owns 95,516 shares of the company’s stock, valued at $2,273,280.80. This trade represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,852 shares of company stock valued at $871,417. 21.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its position in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after acquiring an additional 1,000 shares in the last quarter. Headlands Technologies LLC raised its stake in shares of Sweetgreen by 156.0% during the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after acquiring an additional 741 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after buying an additional 494 shares in the last quarter. Spire Wealth Management raised its stake in Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after buying an additional 635 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new position in Sweetgreen in the fourth quarter worth about $53,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Trading Down 1.5%

Sweetgreen stock opened at $15.00 on Tuesday. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -19.23 and a beta of 2.31. The stock’s 50 day moving average is $20.89 and its 200-day moving average is $28.67. Sweetgreen has a 12 month low of $14.61 and a 12 month high of $45.12.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The business had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $164.68 million. Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) earnings per share. As a group, equities research analysts predict that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.