KeyCorp Analysts Cut Earnings Estimates for Sweetgreen

Key Points

• KeyCorp cut Sweetgreen’s Q3 2026 EPS estimate to a loss of $0.31 from a projected loss of $0.18, while maintaining an “Overweight” rating and a $9 price target. The firm forecasts losses of $1.05 per share for FY2026 and $0.88 for FY2027.
• Analyst sentiment is mixed: Sweetgreen has an average “Hold” rating and a consensus price target of $7.21, with five Buy, eleven Hold, and three Sell ratings. RBC and Citigroup recently reduced their price targets, while JPMorgan raised its target to $13.
• Sweetgreen reported a larger-than-expected quarterly loss of $0.22 per share, while revenue rose 3.8% year over year to $192.66 million but came in below estimates. The stock opened at $6.70, near its 50-day moving average of $6.71.

Sweetgreen, Inc. (NYSE:SG - Free Report) - Analysts at KeyCorp cut their Q3 2026 earnings per share estimates for shares of Sweetgreen in a note issued to investors on Monday, September 7th. KeyCorp analyst C. Carril now anticipates that the company will post earnings per share of ($0.31) for the quarter, down from their prior estimate of ($0.18). KeyCorp currently has a "Overweight" rating and a $9.00 price objective on the stock. The consensus estimate for Sweetgreen's current full-year earnings is ($0.98) per share. KeyCorp also issued estimates for Sweetgreen's Q4 2026 earnings at ($0.31) EPS, FY2026 earnings at ($1.05) EPS and FY2027 earnings at ($0.88) EPS.

A number of other research analysts also recently weighed in on SG. Royal Bank Of Canada decreased their price objective on shares of Sweetgreen from $7.00 to $6.50 and set an "outperform" rating for the company in a research report on Friday, August 7th. Citigroup reduced their price target on shares of Sweetgreen from $10.00 to $8.00 and set a "buy" rating for the company in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Sweetgreen from a "strong sell" rating to a "sell" rating in a report on Sunday, August 16th. JPMorgan Chase & Co. raised shares of Sweetgreen from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $8.00 to $13.00 in a research note on Friday, May 22nd. Finally, Weiss Ratings cut Sweetgreen from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, August 11th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of "Hold" and a consensus target price of $7.21.

Sweetgreen Stock Performance

SG stock opened at $6.70 on Thursday. The firm has a market cap of $798.04 million, a PE ratio of 67.05 and a beta of 2.20. The firm's fifty day moving average is $6.71 and its 200 day moving average is $6.91. Sweetgreen has a one year low of $4.49 and a one year high of $10.63.

Sweetgreen (NYSE:SG - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.09). Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The firm had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. During the same period in the previous year, the business earned ($0.20) EPS. Sweetgreen's revenue for the quarter was up 3.8% compared to the same quarter last year.

Insider Activity

In other news, CFO Jamie McConnell sold 15,033 shares of the firm's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $93,354.93. Following the sale, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jason Miles Cochran sold 4,809 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $29,863.89. Following the sale, the chief operating officer directly owned 207,076 shares in the company, valued at approximately $1,285,941.96. The trade was a 2.27% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 18.19% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock valued at $30,000 after purchasing an additional 2,349 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Sweetgreen during the first quarter worth about $38,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Sweetgreen by 281.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company's stock worth $53,000 after buying an additional 5,839 shares during the last quarter. Onyx Bridge Wealth Group LLC acquired a new position in Sweetgreen in the 1st quarter valued at about $56,000. Finally, Dorsey & Whitney Trust CO LLC acquired a new position in Sweetgreen in the 4th quarter valued at about $77,000. Institutional investors and hedge funds own 95.75% of the company's stock.

About Sweetgreen

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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