Sweetgreen (SG) Scheduled to Post Quarterly Earnings on Thursday

Sweetgreen (NYSE:SG) will be announcing its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. Sweetgreen has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The company had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $152.04 million. During the same quarter in the previous year, the company earned ($0.44) EPS. The firm’s quarterly revenue was up 29.0% compared to the same quarter last year. On average, analysts expect Sweetgreen to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sweetgreen Trading Up 2.2 %

Shares of NYSE:SG opened at $23.25 on Wednesday. The business has a fifty day simple moving average of $21.68 and a 200 day simple moving average of $14.53. Sweetgreen has a 1 year low of $8.64 and a 1 year high of $26.45. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of -23.26 and a beta of 2.22.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 58,067 shares of the firm’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 completion of the sale, 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 filing with the SEC, which is accessible through this link. In related news, CEO Jonathan Neman sold 58,067 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 2,100,000 shares in the company, valued at approximately $34,356,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 10,288 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the transaction, the chief financial officer now owns 432,393 shares in the company, valued at approximately $5,188,716. The disclosure for this sale can be found here. Insiders have sold 140,555 shares of company stock worth $2,214,389 over the last 90 days. Company insiders own 21.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SG shares. JPMorgan Chase & Co. boosted their price objective on shares of Sweetgreen from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Royal Bank of Canada upped their price objective on Sweetgreen from $13.00 to $20.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. Morgan Stanley lifted their target price on Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Oppenheimer upped their price target on 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 lifted their price objective on Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Sweetgreen Company Profile

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.