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

by · The Cerbat Gem

Shares of Sweetgreen, Inc. (NYSE:SG – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $38.20.

Several equities research analysts have weighed in on SG shares. Bank of America lifted their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. Morgan Stanley boosted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Oppenheimer boosted their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Finally, Royal Bank of Canada boosted their target price on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th.

Read Our Latest Research Report on Sweetgreen

Sweetgreen Trading Up 2.0 %

Shares of SG opened at $34.30 on Monday. Sweetgreen has a 12 month low of $8.64 and a 12 month high of $38.53. The firm’s 50 day moving average is $32.30 and its 200-day moving average is $28.77. The stock has a market capitalization of $3.89 billion, a PE ratio of -36.88 and a beta of 2.33.

Sweetgreen (NYSE:SG – Get Free Report) 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). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The firm had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same period last year, the business earned ($0.20) earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. Equities research analysts predict that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Nathaniel Ru sold 9,250 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $28.74, for a total transaction of $265,845.00. Following the sale, the insider now owns 1,952,129 shares of the company’s stock, valued at $56,104,187.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jonathan Neman sold 169,772 shares of Sweetgreen stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $69,044,255.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nathaniel Ru sold 9,250 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.74, for a total transaction of $265,845.00. Following the transaction, the insider now directly owns 1,952,129 shares of the company’s stock, valued at $56,104,187.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 426,061 shares of company stock worth $15,071,720. 21.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently added to or reduced their stakes in SG. Quest Partners LLC acquired a new position in Sweetgreen in the second quarter valued at approximately $76,000. Versor Investments LP acquired a new position in Sweetgreen in the second quarter valued at approximately $217,000. Perigon Wealth Management LLC acquired a new position in Sweetgreen in the first quarter valued at approximately $223,000. Thoroughbred Financial Services LLC acquired a new position in Sweetgreen in the second quarter valued at approximately $233,000. Finally, Nkcfo LLC acquired a new position in Sweetgreen in the second quarter valued at approximately $241,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

About Sweetgreen

(Get Free Report

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.

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