Citigroup Increases Sweetgreen (NYSE:SG) Price Target to $25.00

Sweetgreen (NYSE:SG - Get Free Report) had its price objective boosted by Citigroup from $16.00 to $25.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's target price would indicate a potential upside of 11.21% from the stock's current price.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their price objective on Sweetgreen from $20.00 to $28.00 and gave the company an "overweight" rating in a research report on Tuesday, March 19th. Royal Bank of Canada boosted their target price on shares of Sweetgreen from $13.00 to $20.00 and gave the company an "outperform" rating in a research note on Monday, March 4th. Morgan Stanley upped their price objective on Sweetgreen from $11.00 to $16.00 and gave the company an "underweight" rating in a research report on Friday, April 12th. Oppenheimer boosted their target price on shares of Sweetgreen from $17.00 to $34.00 and gave the company an "outperform" rating in a research report on Monday, April 1st. Finally, TD Cowen reiterated a "hold" rating and set a $17.00 target price on shares of Sweetgreen in a research report on Wednesday, April 10th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Sweetgreen Stock Down 8.4 %

Shares of SG stock traded down $2.05 during trading hours on Tuesday, hitting $22.48. 2,728,090 shares of the company's stock traded hands, compared to its average volume of 2,204,355. The stock's fifty day simple moving average is $20.87 and its two-hundred day simple moving average is $14.24. Sweetgreen has a 12-month low of $7.53 and a 12-month high of $26.45. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -22.48 and a beta of 2.19.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings data 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). 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 for the quarter, compared to analysts' expectations of $152.04 million. During the same quarter in the previous year, the firm posted ($0.44) EPS. The firm's quarterly revenue was up 29.0% compared to the same quarter last year. On average, equities analysts forecast that Sweetgreen will post -0.71 earnings per share for the current fiscal year.

Insider Buying and Selling

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. In other news, 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 transaction of $619,269.75. Following the completion of the transaction, the chief financial officer now owns 405,584 shares in the company, valued at $8,521,319.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jonathan Neman sold 58,067 shares of the business's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.36, for a total value of $949,976.12. Following the completion of the sale, the chief executive officer now owns 2,100,000 shares in the company, valued at $34,356,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,555 shares of company stock valued at $2,214,389. Corporate insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds have recently bought and sold shares of SG. Bourgeon Capital Management LLC purchased a new stake in Sweetgreen during the third quarter valued at approximately $29,000. Compagnie Lombard Odier SCmA lifted its position in Sweetgreen by 300.0% in the third quarter. Compagnie Lombard Odier SCmA now owns 8,000 shares of the company's stock worth $94,000 after buying an additional 6,000 shares during the last quarter. Quest Partners LLC bought a new stake in Sweetgreen in the fourth quarter worth $104,000. Clear Harbor Asset Management LLC purchased a new position in Sweetgreen during the fourth quarter worth $113,000. Finally, Triumph Capital Management bought a new position in Sweetgreen during the fourth quarter valued at $126,000. 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.