Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Hold” from Analysts

by · The Cerbat Gem

Sweetgreen, Inc. (NYSE:SG – Get Free Report) has been given an average recommendation of “Hold” by the eighteen analysts that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $7.5733.

Several research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. DA Davidson lifted their target price on shares of Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. JPMorgan Chase & Co. upgraded shares of Sweetgreen from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $8.00 to $13.00 in a report on Friday, May 22nd. Piper Sandler dropped their price target on shares of Sweetgreen from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Finally, BNP Paribas Exane increased their price objective on Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Friday, May 8th.

Get Our Latest Report on Sweetgreen

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its stake in shares of Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after buying an additional 2,349 shares in the last quarter. Fifth Third Bancorp bought a new position in Sweetgreen during the first quarter valued at approximately $38,000. CWM LLC lifted its stake in Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after acquiring an additional 4,984 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after acquiring an additional 5,839 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC acquired a new stake in Sweetgreen in the first quarter valued at approximately $56,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Trading Up 3.7%

NYSE:SG traded up $0.29 on Friday, hitting $8.37. 2,948,956 shares of the company’s stock traded hands, compared to its average volume of 4,107,126. The company has a market cap of $994.01 million, a PE ratio of 69.71 and a beta of 2.17. Sweetgreen has a 1 year low of $4.49 and a 1 year high of $16.70. The firm has a 50-day moving average price of $8.38 and a 200-day moving average price of $6.96.

Sweetgreen (NYSE:SG – Get Free Report) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). The company had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $163.94 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.Sweetgreen’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period last year, the company earned ($0.21) earnings per share. On average, research analysts forecast that Sweetgreen will post -0.76 EPS for the current fiscal year.

About Sweetgreen

(Get Free Report)

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.

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