Analysts Set Sweetgreen, Inc. (NYSE:SG) Target Price at $17.69

Key Points

• Sweetgreen, Inc. has received an average analyst rating of "Hold", with eight analysts recommending hold and seven recommending buy, while the average one-year price target is set at $17.69.
• The company’s stock has recently dropped significantly, with price targets revised down to as low as $12.00 after disappointing earnings and revenue reports.
• Sweetgreen’s market capitalization stands at $1.01 billion, and the stock has experienced a stark decline from its one-year high of $45.12 to a current low of $8.51.

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has been assigned an average rating of "Hold" from the fifteen brokerages that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $17.6923.

Several research analysts have recently commented on the company. TD Securities reaffirmed a "hold" rating and issued a $15.00 price objective (down previously from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. TD Cowen decreased their price objective on Sweetgreen from $15.00 to $10.00 and set a "hold" rating on the stock in a research note on Friday, August 8th. Morgan Stanley decreased their price objective on Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Monday, July 14th. Bank of America decreased their price objective on Sweetgreen from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $19.00 price objective on shares of Sweetgreen in a research note on Tuesday, July 1st.

Sweetgreen Trading Down 0.7%

SG stock traded down $0.06 during trading on Monday, reaching $8.57. The stock had a trading volume of 4,580,814 shares, compared to its average volume of 5,165,475. Sweetgreen has a 52 week low of $8.11 and a 52 week high of $45.12. The stock's 50 day moving average is $10.73 and its two-hundred day moving average is $15.44. The firm has a market cap of $1.01 billion, a PE ratio of -10.20 and a beta of 2.01.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The firm had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. During the same period in the prior year, the company posted ($0.13) EPS. The firm's revenue was up .5% compared to the same quarter last year. Sweetgreen has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Sweetgreen will post -0.74 EPS for the current year.

Insider Activity

In related news, CFO Mitch Reback sold 11,530 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the sale, the chief financial officer owned 322,891 shares in the company, valued at approximately $2,967,368.29. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 19.78% of the company's stock.

Institutional Trading of Sweetgreen

Institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC grew its position in shares of Sweetgreen by 50.8% during the first quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company's stock worth $332,000 after purchasing an additional 4,474 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Sweetgreen by 4.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company's stock valued at $936,000 after buying an additional 1,278 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Sweetgreen by 352.0% during the 1st quarter. New York State Common Retirement Fund now owns 242,472 shares of the company's stock valued at $6,067,000 after buying an additional 188,830 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Sweetgreen during the 4th quarter valued at approximately $739,000. Finally, Sovran Advisors LLC purchased a new position in Sweetgreen during the 1st quarter valued at approximately $1,403,000. 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.