Sweetgreen, Inc. (NYSE:SG) Stock Has Average Target Price of $9.88 According to Brokerages

Key Points

• Analyst sentiment is mixed: Sixteen brokerages give Sweetgreen a consensus “Hold” rating—six Buy, seven Hold and three Sell—with an average 12-month price target of $9.88.
• Several analysts recently raised their price targets, including Citigroup to $15 and Oppenheimer and Wells Fargo to $14, while maintaining positive ratings.
• In its latest quarter, Sweetgreen reported revenue of $176.02 million, above the $170.07 million analyst estimate; its loss of $0.26 per share matched consensus.

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) have received an average recommendation of "Hold" from the sixteen brokerages that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $9.88.

Several equities analysts have weighed in on the company. DA Davidson increased their price objective on Sweetgreen from $5.50 to $12.00 and gave the company a "neutral" rating in a report on Friday, November 6th. Citigroup boosted their price objective on Sweetgreen from $13.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, November 6th. Oppenheimer upped their price target on shares of Sweetgreen from $8.50 to $14.00 and gave the company an "outperform" rating in a research note on Friday, November 6th. Wells Fargo & Company raised their price objective on shares of Sweetgreen from $11.00 to $14.00 and gave the stock an "overweight" rating in a report on Friday, November 6th. Finally, UBS Group lifted their price objective on shares of Sweetgreen from $6.50 to $11.00 and gave the company a "neutral" rating in a research note on Wednesday, October 28th.

Sweetgreen Price Performance

Shares of SG stock traded down $0.14 on Friday, hitting $12.24. The stock had a trading volume of 3,306,525 shares, compared to its average volume of 5,276,084. The business has a 50 day moving average of $9.53 and a 200 day moving average of $7.45. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 81.64 and a beta of 2.11. Sweetgreen has a 12-month low of $4.49 and a 12-month high of $13.89.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Thursday, November 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.26). The company had revenue of $176.02 million during the quarter, compared to analyst estimates of $170.07 million. Sweetgreen had a negative return on equity of 31.13% and a net margin of 2.78%. Sweetgreen's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.31) earnings per share. As a group, research analysts expect that Sweetgreen will post -1.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In related news, COO Jason Miles Cochran sold 4,809 shares of Sweetgreen stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $29,863.89. Following the transaction, the chief operating officer owned 207,076 shares in the company, valued at $1,285,941.96. This trade represents a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of the business's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $93,354.93. Following the completion of the sale, the chief financial officer directly owned 210,489 shares of the company's stock, valued at approximately $1,307,136.69. This trade represents a 6.67% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 23,842 shares of company stock worth $178,259. Insiders own 18.19% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its stake in shares of Sweetgreen by 175.2% during the third quarter. Sterling Capital Management LLC now owns 2,936 shares of the company's stock valued at $26,000 after acquiring an additional 1,869 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Sweetgreen in the first quarter worth about $38,000. State of Alaska Department of Revenue purchased a new stake in Sweetgreen in the third quarter worth about $68,000. Sequoia Financial Advisors LLC purchased a new stake in Sweetgreen in the second quarter worth about $90,000. Finally, Versant Capital Management Inc raised its position in shares of Sweetgreen by 241.5% in the 2nd quarter. Versant Capital Management Inc now owns 10,518 shares of the company's stock worth $93,000 after acquiring an additional 7,438 shares in the last quarter. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Company Profile

Sweetgreen, Inc. is a fast-casual restaurant company that serves salads, grain bowls and other meals made with vegetables, grains and proteins. Its menu includes seasonal offerings, and customers can order in restaurants or through the company's digital channels. Founded in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen began as a single restaurant near Georgetown University in Washington, D.C. The company has since expanded to markets across the United States. Sweetgreen also uses technology in its restaurant operations, including its Infinite Kitchen automated food-preparation system.

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