UBS Group Raises Sweetgreen (NYSE:SG) Price Target to $37.00

Sweetgreen (NYSE:SG) had its target price raised by UBS Group from $31.00 to $37.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

SG has been the subject of a number of other research reports. William Blair reiterated an outperform rating on shares of Sweetgreen in a report on Wednesday, May 15th. JPMorgan Chase & Co. raised their price target on Sweetgreen from $32.00 to $37.00 and gave the stock an overweight rating in a research report on Friday, June 14th. Morgan Stanley boosted their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an equal weight rating in a research report on Friday. Bank of America cut their price objective on shares of Sweetgreen from $36.00 to $33.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Finally, Citigroup increased their target price on Sweetgreen from $25.00 to $28.00 and gave the stock a neutral rating in a report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $33.60.

Sweetgreen Price Performance

Shares of NYSE SG traded up $8.76 during mid-day trading on Friday, hitting $35.01. The company’s stock had a trading volume of 15,864,979 shares, compared to its average volume of 2,687,511. Sweetgreen has a one year low of $8.64 and a one year high of $36.72. The company’s fifty day simple moving average is $28.33 and its 200-day simple moving average is $23.43. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -37.65 and a beta of 2.30.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. Sweetgreen’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.20) earnings per share. On average, sell-side analysts predict that Sweetgreen will post -0.73 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In other news, insider Adrienne Gemperle sold 3,889 shares of Sweetgreen stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $31.35, for a total transaction of $121,920.15. Following the completion of the transaction, the insider now directly owns 125,518 shares in the company, valued at approximately $3,934,989.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sweetgreen news, insider Adrienne Gemperle sold 3,889 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $31.35, for a total value of $121,920.15. Following the transaction, the insider now directly owns 125,518 shares of the company’s stock, valued at approximately $3,934,989.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bradley E. Singer sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $32.30, for a total value of $1,938,000.00. Following the completion of the transaction, the director now directly owns 182,567 shares in the company, valued at approximately $5,896,914.10. The disclosure for this sale can be found here. Insiders sold a total of 440,692 shares of company stock worth $13,738,038 over the last quarter. 21.52% of the stock is currently owned by insiders.

Institutional Trading of Sweetgreen

Several hedge funds and other institutional investors have recently bought and sold shares of SG. Quest Partners LLC acquired a new stake in shares of Sweetgreen during the 2nd quarter worth approximately $76,000. Versor Investments LP bought a new position in Sweetgreen in the second quarter valued at approximately $217,000. Thoroughbred Financial Services LLC bought a new position in Sweetgreen in the second quarter valued at approximately $233,000. Moloney Securities Asset Management LLC bought a new position in Sweetgreen in the second quarter valued at approximately $256,000. Finally, Perigon Wealth Management LLC bought a new position in Sweetgreen in the first quarter valued at approximately $223,000. 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.