Sweetgreen, Inc. (NYSE:SG) Receives $19.88 Consensus Price Target from Brokerages

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has been given an average rating of "Moderate Buy" by the eight analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.88.

SG has been the subject of several analyst reports. 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 note on Monday, March 4th. Oppenheimer raised their target price on Sweetgreen from $17.00 to $34.00 and gave the stock an "outperform" rating in a research note on Monday, April 1st. TD Cowen raised their target price on Sweetgreen from $15.00 to $17.00 and gave the stock a "market perform" rating in a research note on Thursday, March 7th. Citigroup raised their price target on Sweetgreen from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Wednesday, February 21st. Finally, Morgan Stanley raised their price target on Sweetgreen from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Friday, March 1st.

Sweetgreen Trading Down 1.1 %

Shares of SG stock traded down $0.27 on Monday, hitting $25.13. 1,436,926 shares of the stock were exchanged, compared to its average volume of 2,249,194. The firm has a market capitalization of $2.84 billion, a PE ratio of -25.49 and a beta of 2.20. Sweetgreen has a one year low of $7.13 and a one year high of $26.45. The firm's 50 day moving average is $17.20 and its two-hundred day moving average is $12.93.

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

Insider Activity at Sweetgreen

In related 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 directly owns 2,100,000 shares of the company's stock, valued at approximately $21,987,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 transaction, the chief financial officer now directly owns 405,584 shares of the company's stock, valued at approximately $8,521,319.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jonathan Neman sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $10.47, for a total value of $52,350.00. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at $21,987,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,555 shares of company stock valued at $2,266,739. Corporate insiders own 22.03% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its position in 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 last quarter. HighTower Advisors LLC grew its position in 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 last quarter. Brown Advisory Inc. grew its position 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 position 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 position 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. 95.75% of the stock is currently owned by institutional investors.

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.