Sweetgreen (NYSE:SG) Price Target Raised to $30.00 at JPMorgan Chase & Co.

Sweetgreen (NYSE:SG - Get Free Report) had its price target upped by JPMorgan Chase & Co. from $28.00 to $30.00 in a report released on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 5.09% from the company's current price.

Other equities analysts have also recently issued research reports about the company. Citigroup boosted their price objective on Sweetgreen from $16.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, April 30th. Oppenheimer lifted their target price on shares of Sweetgreen from $17.00 to $34.00 and gave the company an "outperform" rating in a report on Monday, April 1st. Morgan Stanley raised their price target on shares of Sweetgreen from $16.00 to $17.00 and gave the company an "underweight" rating in a research report on Friday. Royal Bank of Canada increased their target price on shares of Sweetgreen from $20.00 to $35.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Piper Sandler increased their target price on shares of Sweetgreen from $16.00 to $19.00 and gave the stock 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 assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $25.75.

Sweetgreen Stock Up 34.2 %

Shares of SG traded up $8.05 during mid-day trading on Friday, hitting $31.61. 21,429,624 shares of the company traded hands, compared to its average volume of 2,461,701. Sweetgreen has a 1-year low of $8.64 and a 1-year high of $34.45. The company has a market capitalization of $3.57 billion, a PE ratio of -31.61 and a beta of 2.22. The business has a 50 day moving average of $22.34 and a 200 day moving average of $14.74.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.02). The business had revenue of $157.85 million for the quarter, compared to analysts' expectations of $152.02 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The business's quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.29) earnings per share. As a group, research analysts expect that Sweetgreen will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 29,475 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $21.01, for a total value of $619,269.75. Following the completion of the sale, the chief financial officer now owns 405,584 shares in the company, valued at approximately $8,521,319.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Sweetgreen news, insider Adrienne Gemperle sold 4,000 shares of the business's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.00, for a total value of $64,000.00. Following the transaction, the insider now directly owns 129,407 shares in the company, valued at approximately $2,070,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mitch Reback sold 29,475 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 405,584 shares in the company, valued at $8,521,319.84. The disclosure for this sale can be found here. Insiders sold a total of 130,267 shares of company stock worth $2,090,933 in the last 90 days. Insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Sweetgreen in the 3rd quarter valued at approximately $241,000. Bank of New York Mellon Corp grew its stake in shares of Sweetgreen by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 343,549 shares of the company's stock valued at $4,037,000 after buying an additional 19,538 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Sweetgreen by 31.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,505 shares of the company's stock worth $570,000 after acquiring an additional 11,500 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in Sweetgreen by 88.1% during the 3rd quarter. Summit Trail Advisors LLC now owns 20,975 shares of the company's stock valued at $246,000 after acquiring an additional 9,823 shares during the period. Finally, Panagora Asset Management Inc. increased its position in shares of Sweetgreen by 867.6% during the third quarter. Panagora Asset Management Inc. now owns 180,521 shares of the company's stock worth $2,121,000 after acquiring an additional 161,865 shares during the period. 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.

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