Sweetgreen (NYSE:SG) Price Target Raised to $34.00 at Oppenheimer

Sweetgreen (NYSE:SG - Free Report) had its price objective boosted by Oppenheimer from $17.00 to $34.00 in a report published on Monday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also recently commented on SG. Royal Bank of Canada upped their price target on Sweetgreen from $13.00 to $20.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Citigroup increased their price objective on Sweetgreen from $12.00 to $13.00 and gave the company a neutral rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on Sweetgreen from $20.00 to $28.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. TD Cowen increased their price objective on Sweetgreen from $15.00 to $17.00 and gave the company a market perform rating in a research note on Thursday, March 7th. Finally, Piper Sandler increased their price objective on Sweetgreen from $16.00 to $19.00 and gave the company an overweight rating in a research note 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 issued a buy rating to the company. According to MarketBeat, Sweetgreen has a consensus rating of Moderate Buy and a consensus target price of $19.88.

Sweetgreen Stock Performance

Shares of SG stock traded up $0.10 during trading hours on Monday, reaching $25.36. The company had a trading volume of 1,953,675 shares, compared to its average volume of 2,286,046. The stock has a fifty day moving average of $16.07 and a 200-day moving average of $12.58. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of -25.36 and a beta of 2.19. Sweetgreen has a 12-month low of $6.38 and a 12-month high of $26.45.

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

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 29,475 shares of the stock in a transaction on Tuesday, March 12th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other Sweetgreen news, CEO Jonathan Neman sold 5,000 shares of the firm's stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $10.47, for a total transaction of $52,350.00. Following the transaction, the chief executive officer now owns 2,100,000 shares of the company's stock, valued at $21,987,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mitch Reback sold 29,475 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $21.01, for a total value of $619,269.75. Following the transaction, the chief financial officer now directly owns 405,584 shares in the company, valued at approximately $8,521,319.84. The disclosure for this sale can be found here. Insiders have sold 145,555 shares of company stock valued at $2,266,739 over the last quarter. 22.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in SG. Tower Research Capital LLC TRC grew its holdings in shares of Sweetgreen by 394.8% during the first quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company's stock worth $26,000 after buying an additional 2,586 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in Sweetgreen in the third quarter valued at about $29,000. Clear Street Markets LLC acquired a new stake in Sweetgreen in the fourth quarter valued at about $33,000. Asset Dedication LLC acquired a new stake in Sweetgreen in the second quarter valued at about $58,000. Finally, Comerica Bank acquired a new stake in Sweetgreen in the second quarter valued at about $59,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

About Sweetgreen

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.