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

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $29.08.

A number of research analysts recently weighed in on SG shares. Morgan Stanley lowered their price objective on shares of Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Citigroup lowered their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group lowered their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research report on Wednesday. Barclays began coverage on shares of Sweetgreen in a research report on Friday. They set an "equal weight" rating and a $16.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th.

Insider Activity

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total value of $50,527.40. Following the sale, the director now directly owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Rossann Williams sold 4,977 shares of Sweetgreen stock in a transaction on Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $118,452.60. Following the completion of the sale, the chief operating officer now owns 95,516 shares in the company, valued at approximately $2,273,280.80. This represents a 4.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,014 shares of company stock worth $736,283 in the last three months. Company insiders own 21.52% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its stake in shares of Sweetgreen by 4.9% during the 1st quarter. Rhumbline Advisers now owns 144,722 shares of the company's stock worth $3,621,000 after purchasing an additional 6,720 shares during the period. Intech Investment Management LLC boosted its stake in shares of Sweetgreen by 38.1% during the 1st quarter. Intech Investment Management LLC now owns 75,756 shares of the company's stock worth $1,895,000 after purchasing an additional 20,885 shares during the period. SCS Capital Management LLC purchased a new position in shares of Sweetgreen during the 1st quarter worth about $374,000. Rip Road Capital Partners LP purchased a new position in shares of Sweetgreen during the 1st quarter worth about $2,077,000. Finally, Sandler Capital Management purchased a new position in shares of Sweetgreen during the 1st quarter worth about $3,243,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Stock Performance

Shares of SG opened at $14.05 on Friday. The stock has a market cap of $1.65 billion, a PE ratio of -18.01 and a beta of 2.06. Sweetgreen has a fifty-two week low of $12.37 and a fifty-two week high of $45.12. The firm's 50-day simple moving average is $17.46 and its two-hundred day simple moving average is $26.24.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The business had revenue of $166.30 million for the quarter, compared to analysts' expectations of $164.68 million. During the same quarter in the prior year, the company earned ($0.23) earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that Sweetgreen will post -0.74 EPS for the current year.

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.

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