Piper Sandler Lowers Sweetgreen (NYSE:SG) Price Target to $20.00

Sweetgreen (NYSE:SG) had its price target decreased by equities research analysts at Piper Sandler from $27.00 to $20.00 in a report released on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective points to a potential upside of 30.46% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Sweetgreen in a report on Tuesday, February 25th. The Goldman Sachs Group reduced their price target on Sweetgreen from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $25.00 price target (down from $32.00) on shares of Sweetgreen in a research note on Tuesday, May 6th. TD Securities cut their price objective on Sweetgreen from $45.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, UBS Group decreased their target price on Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.18.

Sweetgreen Price Performance

NYSE:SG opened at $15.33 on Friday. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -19.65 and a beta of 2.31. The business has a 50 day simple moving average of $21.74 and a 200-day simple moving average of $29.45. Sweetgreen has a 1 year low of $14.61 and a 1 year high of $45.12.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The company had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. During the same period last year, the company earned ($0.23) earnings per share. Sweetgreen’s revenue was up 5.3% on a year-over-year basis. As a group, analysts expect that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mitch Reback sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $21.07, for a total value of $84,280.00. Following the completion of the sale, the chief financial officer now owns 344,509 shares of the company’s stock, valued at approximately $7,258,804.63. This represents a 1.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the transaction, the chief operating officer now directly owns 95,516 shares in the company, valued at approximately $2,273,280.80. The trade was a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,852 shares of company stock worth $871,417 in the last three months. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds have recently made changes to their positions in SG. Steward Partners Investment Advisory LLC grew its stake in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock worth $39,000 after buying an additional 741 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after acquiring an additional 494 shares in the last quarter. Spire Wealth Management lifted its position in Sweetgreen by 47.1% during the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock valued at $50,000 after acquiring an additional 635 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Sweetgreen in the fourth quarter valued at approximately $53,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.