Sweetgreen (NYSE:SG) Trading 4.6% Higher – Time to Buy?

Sweetgreen, Inc. (NYSE:SG)’s stock price traded up 4.6% during trading on Monday . The company traded as high as $8.84 and last traded at $8.7420. 323,346 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 4,739,998 shares. The stock had previously closed at $8.36.

Analysts Set New Price Targets

Several brokerages recently weighed in on SG. BNP Paribas Exane boosted their price objective on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a report on Friday, May 8th. JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $13.00 in a research report on Friday, May 22nd. Wall Street Zen upgraded Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. DA Davidson upped their price target on Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Finally, Piper Sandler dropped their price target on Sweetgreen from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.57.

Sweetgreen Stock Down 1.5%

The stock has a market cap of $978.79 million, a price-to-earnings ratio of 69.05 and a beta of 2.17. The firm’s 50 day moving average is $8.38 and its two-hundred day moving average is $6.96.

Sweetgreen (NYSE:SG) last issued its earnings results on Friday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The business had revenue of $161.52 million during the quarter, compared to the consensus estimate of $163.94 million. During the same period in the prior year, the business earned ($0.21) EPS. The business’s revenue was down 2.9% on a year-over-year basis. On average, analysts anticipate that Sweetgreen, Inc. will post -0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in Sweetgreen by 22.4% in the first quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock worth $7,292,000 after buying an additional 53,427 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Sweetgreen by 6.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock valued at $1,516,000 after acquiring an additional 3,553 shares during the period. Prudential Financial Inc. bought a new position in shares of Sweetgreen during the second quarter worth about $197,000. Qube Research & Technologies Ltd bought a new position in shares of Sweetgreen during the second quarter worth about $538,000. Finally, Frontier Capital Management Co. LLC grew its position in shares of Sweetgreen by 121.7% during the second quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company’s stock worth $10,122,000 after acquiring an additional 373,350 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.