Sweetgreen (NYSE:SG) Sets New 12-Month High After Analyst Upgrade

Sweetgreen, Inc. (NYSE:SG - Get Free Report)'s stock price hit a new 52-week high during trading on Monday after Oppenheimer raised their price target on the stock from $17.00 to $34.00. Oppenheimer currently has an outperform rating on the stock. Sweetgreen traded as high as $26.45 and last traded at $25.80, with a volume of 228959 shares. The stock had previously closed at $25.26.

A number of other equities analysts also recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Sweetgreen from $13.00 to $20.00 and gave the stock an "outperform" rating in a research note on Monday, March 4th. TD Cowen boosted their target price on shares of Sweetgreen from $15.00 to $17.00 and gave the stock a "market perform" rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. upped their price objective on shares of Sweetgreen from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 19th. Citigroup increased their target price on shares of Sweetgreen from $12.00 to $13.00 and gave the company a "neutral" rating in a research report on Wednesday, February 21st. Finally, Morgan Stanley increased their target price on shares of Sweetgreen from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Sweetgreen currently has an average rating of "Moderate Buy" and an average target price of $19.88.

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 4,286 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $12.32, for a total value of $52,803.52. Following the completion of the transaction, the insider now directly owns 139,693 shares in the company, valued at $1,721,017.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Mitch Reback sold 29,475 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $21.01, for a total value of $619,269.75. Following the transaction, the chief financial officer now owns 405,584 shares of the company's stock, valued at $8,521,319.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adrienne Gemperle sold 4,286 shares of the business's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $12.32, for a total transaction of $52,803.52. Following the completion of the transaction, the insider now directly owns 139,693 shares in the company, valued at approximately $1,721,017.76. The disclosure for this sale can be found here. Insiders sold 145,555 shares of company stock worth $2,266,739 over the last three months. 22.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its stake in shares of Sweetgreen by 2.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company's stock valued at $468,000 after acquiring an additional 830 shares during the period. HighTower Advisors LLC raised its stake in shares of Sweetgreen by 10.1% in the fourth quarter. HighTower Advisors LLC now owns 11,293 shares of the company's stock valued at $97,000 after acquiring an additional 1,036 shares during the period. Brown Advisory Inc. raised its stake in shares of Sweetgreen by 1.0% in the fourth quarter. Brown Advisory Inc. now owns 108,572 shares of the company's stock valued at $930,000 after acquiring an additional 1,092 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Sweetgreen by 16.2% in the second quarter. Ameritas Investment Partners Inc. now owns 7,982 shares of the company's stock valued at $102,000 after acquiring an additional 1,111 shares during the period. Finally, Forum Financial Management LP raised its stake in shares of Sweetgreen by 12.6% in the third quarter. Forum Financial Management LP now owns 11,262 shares of the company's stock valued at $132,000 after acquiring an additional 1,262 shares during the period. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Stock Up 0.4 %

The firm has a market cap of $2.87 billion, a PE ratio of -25.36 and a beta of 2.19. The company's 50 day moving average price is $16.07 and its two-hundred day moving average price is $12.58.

Sweetgreen (NYSE:SG - Get Free Report) last announced its earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. The firm had revenue of $153.00 million during the quarter, compared to analysts' expectations of $152.04 million. During the same period in the prior year, the company posted ($0.44) EPS. The company's revenue was up 29.0% compared to the same quarter last year. On average, analysts expect that Sweetgreen, Inc. will post -0.65 earnings per share for the current fiscal year.

Sweetgreen Company Profile

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.