Sweetgreen (NYSE:SG) Price Target Raised to $16.00 at Morgan Stanley

Sweetgreen (NYSE:SG - Free Report) had its price objective lifted by Morgan Stanley from $11.00 to $16.00 in a report released on Friday, Benzinga reports. They currently have an underweight rating on the stock.

Several other brokerages have also commented on SG. JPMorgan Chase & Co. upped their target price on Sweetgreen from $20.00 to $28.00 and gave the company an overweight rating in a research report on Tuesday, March 19th. Piper Sandler raised their target price on Sweetgreen from $16.00 to $19.00 and gave the company an overweight rating in a report on Friday, March 1st. TD Cowen restated a hold rating and issued a $17.00 target price on shares of Sweetgreen in a report on Wednesday. Citigroup lifted their price target on Sweetgreen from $12.00 to $13.00 and gave the stock a neutral rating in a report on Wednesday, February 21st. Finally, Royal Bank of Canada raised their target price on Sweetgreen from $13.00 to $20.00 and gave the stock an outperform rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $20.50.

Sweetgreen Stock Down 3.1 %

Shares of NYSE SG traded down $0.71 during trading on Friday, reaching $22.73. The company had a trading volume of 1,119,027 shares, compared to its average volume of 2,235,684. The company's fifty day moving average price is $18.44 and its 200-day moving average price is $13.32. Sweetgreen has a 12 month low of $7.25 and a 12 month high of $26.45. The stock has a market cap of $2.57 billion, a P/E ratio of -22.73 and a beta of 2.20.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $153.00 million during the quarter, compared to the consensus estimate of $152.04 million. During the same quarter last year, the firm posted ($0.44) EPS. The company's quarterly revenue was up 29.0% on a year-over-year basis. As a group, equities analysts predict that Sweetgreen will post -0.65 earnings per share for the current year.

Insider Activity

In related news, CEO Jonathan Neman sold 5,000 shares of Sweetgreen stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $10.47, for a total transaction of $52,350.00. Following the completion of the sale, the chief executive officer now owns 2,100,000 shares of the company's stock, valued at $21,987,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Adrienne Gemperle sold 4,000 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.00, for a total value of $64,000.00. Following the completion of the sale, the insider now owns 129,407 shares of the company's stock, valued at approximately $2,070,512. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan Neman sold 5,000 shares of the business's stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $10.47, for a total value of $52,350.00. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares of the company's stock, valued at approximately $21,987,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 145,555 shares of company stock worth $2,266,739. 22.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in shares of Sweetgreen by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company's stock worth $468,000 after acquiring an additional 830 shares during the period. HighTower Advisors LLC grew its holdings in shares of Sweetgreen by 10.1% during the 4th quarter. HighTower Advisors LLC now owns 11,293 shares of the company's stock worth $97,000 after acquiring an additional 1,036 shares during the period. Brown Advisory Inc. grew its stake in shares of Sweetgreen by 1.0% in the 4th quarter. Brown Advisory Inc. now owns 108,572 shares of the company's stock worth $930,000 after buying an additional 1,092 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Sweetgreen by 16.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,982 shares of the company's stock worth $102,000 after buying an additional 1,111 shares during the last quarter. Finally, Forum Financial Management LP grew its stake in shares of Sweetgreen by 12.6% in the 3rd quarter. Forum Financial Management LP now owns 11,262 shares of the company's stock worth $132,000 after buying an additional 1,262 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company's stock.

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.