Sweetgreen (NYSE:SG) Stock Rating Upgraded by Wall Street Zen

Sweetgreen (NYSE:SG) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts also recently weighed in on SG. UBS Group boosted their price target on shares of Sweetgreen from $6.50 to $11.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. TD Cowen upped their target price on shares of Sweetgreen from $9.00 to $11.00 and gave the stock a “hold” rating in a report on Friday. Oppenheimer upped their target price on shares of Sweetgreen from $8.50 to $14.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company raised their price objective on Sweetgreen from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Weiss Ratings downgraded Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sweetgreen presently has a consensus rating of “Hold” and an average price target of $9.88.

Sweetgreen Stock Down 0.7%

Shares of NYSE:SG opened at $11.92 on Friday. Sweetgreen has a twelve month low of $4.49 and a twelve month high of $12.49. The stock’s 50 day moving average is $8.93 and its 200-day moving average is $7.31. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 79.50 and a beta of 2.11.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). Sweetgreen had a net margin of 2.78% and a negative return on equity of 31.19%. The business had revenue of $176.02 million during the quarter, compared to the consensus estimate of $170.07 million. During the same quarter last year, the firm posted ($0.31) EPS. Sweetgreen’s revenue was up 2.1% compared to the same quarter last year. Equities research analysts anticipate that Sweetgreen will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Jason Miles Cochran sold 4,809 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $29,863.89. Following the completion of the transaction, the chief operating officer owned 207,076 shares in the company, valued at $1,285,941.96. The trade was a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $93,354.93. Following the completion of the transaction, the chief financial officer directly owned 210,489 shares of the company’s stock, valued at approximately $1,307,136.69. This trade represents a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC lifted its position in shares of Sweetgreen by 175.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,936 shares of the company’s stock valued at $26,000 after buying an additional 1,869 shares in the last quarter. Fifth Third Bancorp purchased a new stake in Sweetgreen during the first quarter valued at approximately $38,000. State of Alaska Department of Revenue bought a new stake in shares of Sweetgreen in the 3rd quarter worth about $68,000. Sequoia Financial Advisors LLC purchased a new position in Sweetgreen during the 2nd quarter valued at $90,000. Finally, Versant Capital Management Inc boosted its position in Sweetgreen by 241.5% in the 2nd quarter. Versant Capital Management Inc now owns 10,518 shares of the company’s stock valued at $93,000 after buying an additional 7,438 shares during the period. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen News Summary

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Sweetgreen reported Q3 revenue of $176.0 million, up 2.1% year over year and above the roughly $170 million consensus estimate. Its $0.26-per-share loss was in line with consensus and narrower than the year-earlier loss. Same-store sales fell 6.4%, an improvement from a 9.5% decline a year ago. Sweetgreen Q3 results
• Positive Sentiment: Several firms raised their targets: Oppenheimer and Wells Fargo moved to $14, while KeyCorp raised its target to $13; all maintained bullish ratings. The revisions may bolster confidence following the earnings release. Oppenheimer rating Wells Fargo rating KeyCorp rating
• Neutral Sentiment: TD Cowen raised its target from $9 to $11 but kept a Hold rating; its new target remains below the stock’s recent trading level. TD Cowen rating
• Negative Sentiment: Despite improvement, same-store sales remained negative and overall revenue growth was modest. Reports tie the sales pressure to the Cyclospora outbreak, leaving investors focused on whether the recovery can continue. Same-store sales and outbreak recovery

Sweetgreen Company Profile

Sweetgreen, Inc operates a fast-casual restaurant company focused on fresh, customizable meals. Its menu includes salads, grain bowls, protein plates, sides, and beverages made with seasonal produce and other ingredients. Customers can order in restaurants or through Sweetgreen’s website and mobile application, with options for pickup and delivery.

Founded in 2007 by Nicolas Jammet, Jonathan Neman, and Nathaniel Ru, Sweetgreen began as a single restaurant in Washington, DC The company has expanded its restaurant network across metropolitan areas in the United States, with locations concentrated in major markets on the East and West coasts and in other regions.