Sweetgreen, Inc. (NYSE:SG) Receives $8.04 Consensus Target Price from Analysts

Sweetgreen, Inc. (NYSE:SG) has been assigned a consensus recommendation of “Hold” from the nineteen brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.0375.

Several brokerages have recently weighed in on SG. UBS Group upped their price objective on Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Wall Street Zen upgraded Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. TD Cowen upped their price objective on Sweetgreen from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 27th. Oppenheimer upped their price objective on Sweetgreen from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Finally, Piper Sandler cut their price objective on Sweetgreen from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, March 27th.

Insider Activity

In related news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were bought at an average cost of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the transaction, the insider directly owned 11,900,255 shares of the company’s stock, valued at approximately $67,712,450.95. This trade represents a 5.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 18.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC raised its position in shares of Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after purchasing an additional 2,349 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in Sweetgreen by 124.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock valued at $50,000 after buying an additional 3,484 shares during the period. Fifth Third Bancorp acquired a new position in Sweetgreen during the first quarter valued at $38,000. CWM LLC grew its stake in Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after purchasing an additional 4,984 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after purchasing an additional 5,839 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

Shares of SG stock opened at $8.26 on Wednesday. Sweetgreen has a 1 year low of $4.49 and a 1 year high of $16.70. The stock has a fifty day moving average of $7.88 and a two-hundred day moving average of $6.82. The firm has a market capitalization of $981.54 million, a PE ratio of 68.84 and a beta of 2.16.

Sweetgreen (NYSE:SG) last announced its quarterly 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). The business had revenue of $161.52 million for the quarter, compared to analyst estimates of $163.95 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) EPS. Equities research analysts predict that Sweetgreen will post -0.76 earnings per share for the current fiscal year.

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.