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

Sweetgreen, Inc. (NYSE:SG) has received an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $22.00.

Several brokerages recently weighed in on SG. Citigroup increased their target price on Sweetgreen from $16.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday, April 30th. Oppenheimer raised their target price on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. increased their price objective on shares of Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Piper Sandler lifted their target price on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Finally, Morgan Stanley increased their price target on shares of Sweetgreen from $11.00 to $16.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th.

Insiders Place Their Bets

In other Sweetgreen news, insider Adrienne Gemperle sold 4,286 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $12.32, for a total value of $52,803.52. Following the completion of the sale, the insider now directly owns 139,693 shares in the company, valued at $1,721,017.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Adrienne Gemperle sold 4,286 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $12.32, for a total transaction of $52,803.52. Following the completion of the transaction, the insider now directly owns 139,693 shares in the company, valued at $1,721,017.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Neman sold 5,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $11.55, for a total value of $57,750.00. Following the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at $24,255,000. The disclosure for this sale can be found here. Insiders sold 140,555 shares of company stock worth $2,214,389 over the last ninety days. 21.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in shares of Sweetgreen by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock worth $468,000 after acquiring an additional 830 shares during the period. Forum Financial Management LP boosted its stake in shares of Sweetgreen by 12.6% during the 3rd quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after acquiring an additional 1,262 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Sweetgreen by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock worth $322,000 after acquiring an additional 1,337 shares during the period. Swiss National Bank boosted its stake in shares of Sweetgreen by 0.9% during the 1st quarter. Swiss National Bank now owns 176,600 shares of the company’s stock worth $4,461,000 after acquiring an additional 1,500 shares during the period. Finally, Panagora Asset Management Inc. boosted its stake in shares of Sweetgreen by 1.0% during the 4th quarter. Panagora Asset Management Inc. now owns 182,254 shares of the company’s stock worth $2,059,000 after acquiring an additional 1,733 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Up 2.2 %

Shares of SG stock opened at $23.25 on Friday. Sweetgreen has a 12 month low of $8.64 and a 12 month high of $26.45. The company has a market cap of $2.63 billion, a PE ratio of -23.26 and a beta of 2.22. The business’s 50 day moving average is $21.68 and its two-hundred day moving average is $14.53.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. The business had revenue of $153.00 million during the quarter, compared to analyst estimates of $152.04 million. During the same period in the prior year, the business posted ($0.44) earnings per share. The company’s revenue for the quarter was up 29.0% compared to the same quarter last year. As a group, equities analysts expect that Sweetgreen will post -0.71 EPS 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.