Sweetgreen, Inc. (NYSE:SG) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Sweetgreen has a consensus analyst rating of "Hold" from 19 research firms, with an average 1-year price target of about $7.98.
• Recent analyst moves were mixed: JPMorgan upgraded the stock to overweight and lifted its target to $13, while other firms like Citizens JMP maintained a negative stance with a $4.50 target.
• The company reported mixed first-quarter results, posting a wider-than-expected loss of $0.27 per share on revenue of $161.52 million, while the stock was trading up 9.1% at $9.80.

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has been given a consensus recommendation of "Hold" by the nineteen research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.9750.

Several equities analysts have recently commented on SG shares. DA Davidson raised their price target on Sweetgreen from $5.50 to $7.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Royal Bank Of Canada cut their price target on Sweetgreen from $8.00 to $7.00 and set an "outperform" rating on the stock in a research note on Friday, February 27th. JPMorgan Chase & Co. upgraded Sweetgreen from a "neutral" rating to an "overweight" rating and raised their price target for the company from $8.00 to $13.00 in a research note on Friday. Citizens Jmp started coverage on Sweetgreen in a research note on Monday, March 30th. They set a "mkt underperform" rating and a $4.50 price target on the stock. Finally, The Goldman Sachs Group raised their price target on Sweetgreen from $5.00 to $5.60 and gave the company a "sell" rating in a research note on Wednesday, January 28th.

Insider Buying and Selling at Sweetgreen

In other news, insider Nicolas Jammet purchased 4,428 shares of the business's stock in a transaction dated Thursday, March 5th. The shares were purchased at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the purchase, the insider owned 22,543 shares in the company, valued at approximately $128,720.53. This represents a 24.44% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the business's stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price of $5.69 per share, for a total transaction of $3,383,006.57. Following the purchase, the insider owned 11,900,255 shares of the company's stock, valued at approximately $67,712,450.95. This trade represents a 5.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 19.78% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC lifted its holdings in shares of Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock worth $30,000 after purchasing an additional 2,349 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Sweetgreen by 124.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company's stock worth $50,000 after purchasing an additional 3,484 shares during the period. Fifth Third Bancorp acquired a new stake in shares of Sweetgreen during the first quarter worth about $38,000. CWM LLC lifted its holdings in shares of Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company's stock worth $50,000 after purchasing an additional 4,984 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Sweetgreen by 281.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company's stock worth $53,000 after purchasing an additional 5,839 shares during the period. Institutional investors and hedge funds own 95.75% of the company's stock.

Sweetgreen Trading Up 9.1%

NYSE:SG opened at $9.80 on Friday. Sweetgreen has a twelve month low of $4.49 and a twelve month high of $16.70. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 81.65 and a beta of 2.03. The stock has a fifty day simple moving average of $6.40 and a 200-day simple moving average of $6.42.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The business had revenue of $161.52 million for the quarter, compared to the consensus estimate of $163.95 million. During the same quarter last year, the business posted ($0.21) earnings per share. The firm's revenue for the quarter was down 2.9% compared to the same quarter last year. As a group, equities research analysts predict that Sweetgreen will post -0.76 EPS for the current fiscal year.

About Sweetgreen

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company's menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.

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