Sweetgreen (NYSE:SG) Given New $7.00 Price Target at Barclays

by · The Markets Daily

Sweetgreen (NYSE:SG – Get Free Report) had its price objective raised by equities research analysts at Barclays from $5.00 to $7.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s price target suggests a potential downside of 7.22% from the stock’s current price.

Several other brokerages have also recently issued reports on SG. Oppenheimer set a $10.00 price objective on Sweetgreen in a research note on Friday, November 7th. William Blair reiterated a “market perform” rating on shares of Sweetgreen in a report on Friday, November 7th. Royal Bank Of Canada restated an “outperform” rating and set a $8.00 price objective on shares of Sweetgreen in a research note on Tuesday, December 9th. Morgan Stanley set a $10.00 target price on shares of Sweetgreen in a research note on Tuesday, October 21st. Finally, Citigroup reissued a “buy” rating on shares of Sweetgreen in a report on Wednesday, November 12th. Three investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.43.

Check Out Our Latest Research Report on SG

Sweetgreen Price Performance

SG traded up $0.24 on Wednesday, reaching $7.55. The company’s stock had a trading volume of 2,781,185 shares, compared to its average volume of 4,646,158. The stock has a market cap of $893.10 million, a price-to-earnings ratio of -7.81 and a beta of 1.93. Sweetgreen has a 1 year low of $5.14 and a 1 year high of $35.16. The business’s 50 day moving average is $6.56 and its 200 day moving average is $9.03.

Sweetgreen (NYSE:SG – Get Free Report) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13). The business had revenue of $172.39 million for the quarter, compared to analysts’ expectations of $179.29 million. Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.Sweetgreen’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. As a group, research analysts forecast that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other news, insider Nicolas Jammet bought 18,115 shares of Sweetgreen stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $5.51 per share, with a total value of $99,813.65. Following the purchase, the insider directly owned 18,115 shares of the company’s stock, valued at approximately $99,813.65. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jonathan Neman bought 179,800 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $5.56 per share, with a total value of $999,688.00. Following the transaction, the chief executive officer owned 179,800 shares in the company, valued at $999,688. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 19.78% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its stake in Sweetgreen by 5.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 15,981 shares of the company’s stock valued at $238,000 after purchasing an additional 877 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Sweetgreen by 98.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after buying an additional 1,055 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Sweetgreen by 5.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company’s stock valued at $345,000 after buying an additional 1,209 shares in the last quarter. Northwest & Ethical Investments L.P. grew its holdings in Sweetgreen by 4.9% during the second quarter. Northwest & Ethical Investments L.P. now owns 39,912 shares of the company’s stock worth $594,000 after acquiring an additional 1,870 shares during the period. Finally, Glass Jacobson Investment Advisors llc bought a new stake in Sweetgreen in the second quarter worth about $30,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Company Profile

(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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