Sweetgreen (NYSE:SG) Earns Mkt Underperform Rating from Analysts at Citizens Jmp

Research analysts at Citizens Jmp started coverage on shares of Sweetgreen (NYSE:SG) in a report issued on Monday. The brokerage set a “mkt underperform” rating and a $4.50 price target on the stock. Citizens Jmp’s target price suggests a potential downside of 4.56% from the company’s current price.

SG has been the topic of several other research reports. DA Davidson began coverage on Sweetgreen in a research note on Friday, March 6th. They set a “neutral” rating and a $5.50 target price on the stock. JPMorgan Chase & Co. upped their price target on Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Royal Bank Of Canada cut their price objective on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Sanford C. Bernstein set a $7.00 target price on shares of Sweetgreen in a report on Wednesday, January 7th. Finally, Wolfe Research began coverage on shares of Sweetgreen in a research report on Monday, March 9th. They set a “peer perform” rating for the company. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $7.84.

Sweetgreen Stock Performance

Shares of SG stock opened at $4.72 on Monday. Sweetgreen has a 52-week low of $4.61 and a 52-week high of $26.40. The firm has a market capitalization of $558.11 million, a PE ratio of -4.14 and a beta of 1.93. The stock has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $6.71.

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

Insiders Place Their Bets

In other news, insider Nicolas Jammet acquired 4,428 shares of Sweetgreen stock in a transaction on Thursday, March 5th. The shares were acquired at an average price of $5.71 per share, with a total value of $25,283.88. Following the purchase, the insider directly owned 22,543 shares in the company, valued at $128,720.53. The trade was a 24.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.78% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its position in Sweetgreen by 548.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,437 shares of the company’s stock worth $91,000 after purchasing an additional 11,364 shares during the last quarter. Alpine Global Management LLC bought a new position in Sweetgreen during the fourth quarter valued at $92,000. Aristides Capital LLC bought a new position in Sweetgreen during the fourth quarter valued at $185,000. Virtu Financial LLC purchased a new position in shares of Sweetgreen in the 4th quarter worth $674,000. Finally, Invesco Ltd. increased its holdings in shares of Sweetgreen by 23.9% in the 4th quarter. Invesco Ltd. now owns 134,511 shares of the company’s stock worth $909,000 after buying an additional 25,921 shares during the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Company Profile

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.