Sweetgreen, Inc. (NYSE:SG) Receives $22.00 Consensus Target Price from Analysts

Sweetgreen, Inc. (NYSE:SG) has been given an average rating of “Moderate Buy” by the eight analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $22.00.

Several equities analysts have recently commented on SG shares. Royal Bank of Canada upped their price target on shares of Sweetgreen from $13.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. TD Cowen reissued a “hold” rating and set a $17.00 price target on shares of Sweetgreen in a report on Wednesday, April 10th. Morgan Stanley lifted their price objective on shares of Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Oppenheimer raised their target price on shares of Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Finally, Piper Sandler raised their price objective on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday, March 1st.

Sweetgreen Trading Up 3.6 %

Shares of SG opened at $22.10 on Friday. Sweetgreen has a 52 week low of $7.56 and a 52 week high of $26.45. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -22.10 and a beta of 2.22. The stock has a 50 day moving average of $21.45 and a 200-day moving average of $14.45.

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

Insider Activity at Sweetgreen

In related news, CEO Jonathan Neman sold 58,067 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.36, for a total value of $949,976.12. Following the transaction, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jonathan Neman sold 58,067 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.36, for a total transaction of $949,976.12. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $34,356,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Adrienne Gemperle sold 4,286 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $12.32, for a total transaction of $52,803.52. Following the completion of the sale, the insider now owns 139,693 shares of the company’s stock, valued at approximately $1,721,017.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,555 shares of company stock valued at $2,214,389. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently made changes to their positions in SG. Bourgeon Capital Management LLC bought a new stake in Sweetgreen during the 3rd quarter worth approximately $29,000. Perigon Wealth Management LLC acquired a new stake in shares of Sweetgreen in the first quarter valued at $223,000. Quest Partners LLC bought a new position in shares of Sweetgreen in the fourth quarter valued at about $104,000. Clear Harbor Asset Management LLC acquired a new position in Sweetgreen during the 4th quarter worth about $113,000. Finally, Triumph Capital Management acquired a new stake in Sweetgreen in the 4th quarter valued at about $126,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.