Sweetgreen (NYSE:SG) Price Target Cut to $12.00 by Analysts at Piper Sandler

Key Points

• Piper Sandler has reduced its price target for Sweetgreen (NYSE:SG) from $20.00 to $12.00, indicating a potential downside of 5.39% from the company's previous close.
• Other analysts have also lowered their price targets for Sweetgreen, with a consensus price target of $21.15 and an average rating of "Hold."
• Sweetgreen posted a loss of ($0.20) earnings per share in its latest earnings report, missing estimates and reflecting a negative net margin of 13.04%.

Sweetgreen (NYSE:SG - Get Free Report) had its price target cut by analysts at Piper Sandler from $20.00 to $12.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Piper Sandler's target price would suggest a potential upside of 25.85% from the company's current price.

Several other equities research analysts also recently commented on the company. TD Cowen reiterated a "hold" rating and set a $19.00 target price on shares of Sweetgreen in a report on Tuesday, July 1st. Oppenheimer lowered their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Barclays raised their price objective on Sweetgreen from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. TD Securities restated a "hold" rating and set a $15.00 price objective (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company restated an "overweight" rating and set a $19.00 price objective on shares of Sweetgreen in a research note on Tuesday, July 1st. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $17.69.

Sweetgreen Trading Down 0.5%

Shares of Sweetgreen stock traded down $0.05 during trading hours on Friday, reaching $9.54. The stock had a trading volume of 4,236,005 shares, compared to its average volume of 4,799,692. The firm has a 50 day simple moving average of $13.38 and a two-hundred day simple moving average of $18.97. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -11.35 and a beta of 2.04. Sweetgreen has a 1 year low of $8.80 and a 1 year high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The firm had revenue of $185.58 million during the quarter, compared to analysts' expectations of $193.47 million. Sweetgreen had a negative return on equity of 21.91% and a negative net margin of 14.29%. The business's revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.13) earnings per share. Sell-side analysts forecast that Sweetgreen will post -0.74 EPS for the current year.

Insider Buying and Selling

In related news, Director Clifford Burrows acquired 19,200 shares of Sweetgreen stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the transaction, the director directly owned 19,200 shares of the company's stock, valued at $251,712. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mitch Reback sold 10,088 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $15.23, for a total value of $153,640.24. Following the transaction, the chief financial officer owned 334,421 shares of the company's stock, valued at $5,093,231.83. This represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Insiders own 19.78% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. raised its stake in shares of Sweetgreen by 4.7% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock worth $336,000 after buying an additional 473 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Sweetgreen by 45.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after buying an additional 494 shares in the last quarter. Oberweis Asset Management Inc. raised its stake in shares of Sweetgreen by 0.6% in the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock worth $3,084,000 after buying an additional 610 shares in the last quarter. Spire Wealth Management raised its stake in shares of Sweetgreen by 47.1% in the 1st quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after buying an additional 635 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Sweetgreen by 5.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,981 shares of the company's stock worth $238,000 after buying an additional 877 shares in the last quarter. Institutional investors and hedge funds 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.