Sweetgreen, Inc. (NYSE:SG) Receives $25.23 Consensus Price Target from Analysts

Sweetgreen, Inc. (NYSE:SG) has earned an average rating of “Hold” from the fourteen analysts that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $25.23.

A number of research firms recently weighed in on SG. JPMorgan Chase & Co. lowered their price objective on shares of Sweetgreen from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 25th. UBS Group reduced their target price on Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, May 5th. Wells Fargo & Company reissued an “overweight” rating and issued a $19.00 target price on shares of Sweetgreen in a report on Tuesday. Oppenheimer reduced their target price on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Finally, The Goldman Sachs Group reduced their target price on Sweetgreen from $23.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, June 4th.

Insider Activity at Sweetgreen

In other news, Director Clifford Burrows bought 19,200 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was acquired at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the purchase, the director owned 19,200 shares of the company’s stock, valued at $251,712. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 10,088 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of the transaction, the chief financial officer owned 334,421 shares of the company’s stock, valued at $5,093,231.83. This trade represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.52% of the stock is owned by insiders.

Institutional Trading of Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in shares of Sweetgreen by 13.6% in the 4th quarter. Bank of New York Mellon Corp now owns 303,914 shares of the company’s stock worth $9,743,000 after acquiring an additional 36,281 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of Sweetgreen by 11.9% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 25,696 shares of the company’s stock worth $824,000 after acquiring an additional 2,737 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Sweetgreen in the 4th quarter worth about $630,000. US Bancorp DE increased its holdings in shares of Sweetgreen by 135.7% in the 4th quarter. US Bancorp DE now owns 6,886 shares of the company’s stock worth $221,000 after acquiring an additional 3,965 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Sweetgreen by 3,571.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock worth $33,000 after acquiring an additional 1,000 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Trading Up 2.7%

Shares of SG opened at $14.80 on Wednesday. The firm has a market cap of $1.74 billion, a PE ratio of -19.21 and a beta of 2.06. The company’s 50 day simple moving average is $14.70 and its 200-day simple moving average is $22.62. Sweetgreen has a 12-month low of $11.86 and a 12-month high of $45.12.

Sweetgreen (NYSE:SG) last announced its 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). The business had revenue of $166.30 million for the quarter, compared to analyst estimates of $164.68 million. Sweetgreen had a negative net margin of 13.04% and a negative return on equity of 19.72%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) earnings per share. As a group, equities research analysts forecast that Sweetgreen will post -0.74 EPS for the current fiscal year.

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.