Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Hold” from Analysts

Sweetgreen, Inc. (NYSE:SG) has received a consensus recommendation of “Hold” from the eighteen research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $7.7250.

A number of equities research analysts have issued reports on SG shares. TD Cowen upped their target price on Sweetgreen from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 27th. Weiss Ratings upgraded shares of Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. UBS Group upped their price objective on shares of Sweetgreen from $6.50 to $7.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. BNP Paribas Exane raised their target price on shares of Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research note on Friday, May 8th. Finally, DA Davidson lifted their target price on shares of Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Monday, May 11th.

Sweetgreen Stock Performance

SG opened at $6.06 on Thursday. The company has a market cap of $719.63 million, a PE ratio of 50.47 and a beta of 2.19. The stock has a 50-day moving average of $7.84 and a 200-day moving average of $6.87. Sweetgreen has a 52-week low of $4.49 and a 52-week high of $12.80.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The company had revenue of $161.52 million during the quarter, compared to the consensus estimate of $163.94 million. During the same period in the previous year, the business posted ($0.21) earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, research analysts predict that Sweetgreen will post -0.51 earnings per share for the current year.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace LLP grew its stake in shares of Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after acquiring an additional 3,667,306 shares during the last quarter. Woodson Capital Management LP raised its stake in Sweetgreen by 152.6% during the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after purchasing an additional 3,625,000 shares during the last quarter. Federated Hermes Inc. raised its stake in Sweetgreen by 366.8% during the 4th quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock valued at $17,900,000 after purchasing an additional 2,080,628 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Sweetgreen by 240.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company’s stock valued at $13,509,000 after purchasing an additional 1,196,222 shares during the period. Finally, Ibex Investors LLC boosted its holdings in Sweetgreen by 5,058.7% in the 4th quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock valued at $5,580,000 after purchasing an additional 809,400 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

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.