Sweetgreen (NYSE:SG) Price Target Raised to $7.00 at Barclays

Sweetgreen (NYSE:SG) had its price target raised by research analysts at Barclays from $5.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential downside of 7.22% from the company’s current price.

Several other analysts also recently issued reports on SG. Bank of America restated a “neutral” rating and set a $9.50 price objective (down previously from $18.00) on shares of Sweetgreen in a report on Monday, October 6th. Oppenheimer set a $10.00 target price on shares of Sweetgreen in a research report on Friday, November 7th. Citigroup restated a “buy” rating on shares of Sweetgreen in a research report on Wednesday, November 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of Sweetgreen in a research note on Tuesday, December 9th. Finally, Wells Fargo & Company downgraded shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $10.00 to $7.00 in a research note on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.43.

Sweetgreen Stock Performance

Shares of NYSE SG traded up $0.24 during trading on Wednesday, hitting $7.55. The company had a trading volume of 2,781,185 shares, compared to its average volume of 4,646,158. The company has a market cap of $893.10 million, a P/E ratio of -7.81 and a beta of 1.93. Sweetgreen has a 52 week low of $5.14 and a 52 week high of $35.16. The business’s 50-day moving average is $6.56 and its 200 day moving average is $9.03.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.13). Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.The company had revenue of $172.39 million for the quarter, compared to the consensus estimate of $179.29 million. During the same period in the prior year, the business earned ($0.18) earnings per share. The business’s revenue was down .6% compared to the same quarter last year. On average, research analysts expect that Sweetgreen will post -0.74 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jonathan Neman bought 179,800 shares of the stock in a transaction on Wednesday, November 12th. The shares were purchased at an average price of $5.56 per share, for a total transaction of $999,688.00. Following the completion of the purchase, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at $999,688. This trade represents a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicolas Jammet bought 18,115 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the transaction, the insider owned 18,115 shares in the company, valued at approximately $99,813.65. The trade was a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 19.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SG. Glass Jacobson Investment Advisors llc bought a new position in shares of Sweetgreen during the 2nd quarter valued at $30,000. Larson Financial Group LLC increased its position in 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 buying an additional 2,349 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Sweetgreen by 98.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after buying an additional 1,055 shares in the last quarter. Bogart Wealth LLC lifted its position in shares of Sweetgreen by 1,150.0% in the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after buying an additional 4,600 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in shares of Sweetgreen by 312.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after buying an additional 2,127 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

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.