Sweetgreen, Inc. (NYSE:SG) Given Consensus Rating of "Hold" by Brokerages

Key Points

• Sweetgreen has a consensus analyst rating of "Hold" from 18 research firms, with 3 sell ratings, 11 hold ratings, and 4 buy ratings. The average 1-year price target is about $7.57.
• Recent analyst moves have been mixed: Oppenheimer raised its target to $10 and kept an outperform rating, while Piper Sandler cut its target to $7 and stayed neutral. Other firms also adjusted ratings and targets, reflecting divided views on the stock.
• Sweetgreen’s latest quarterly results missed expectations, posting EPS of -$0.27 versus estimates of -$0.23 and revenue of $161.5 million versus $163.9 million expected. Shares recently traded at $8.37, with the stock near the middle of its 52-week range.

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has earned a consensus recommendation of "Hold" from the eighteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $7.5733.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Sweetgreen from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, May 22nd. Citizens Jmp began coverage on shares of Sweetgreen in a research note on Monday, March 30th. They set a "mkt underperform" rating and a $4.50 target price on the stock. Oppenheimer raised their target price on shares of Sweetgreen from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, May 20th. Piper Sandler dropped their price target on shares of Sweetgreen from $9.00 to $7.00 and set a "neutral" rating on the stock in a research report on Friday, March 27th. Finally, BNP Paribas Exane upped their price target on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an "underperform" rating in a research note on Friday, May 8th.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Sweetgreen by 22.4% during the 1st quarter. Royal Bank of Canada now owns 291,477 shares of the company's stock worth $7,292,000 after purchasing an additional 53,427 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Sweetgreen by 6.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company's stock valued at $1,516,000 after purchasing an additional 3,553 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Sweetgreen in the second quarter valued at $197,000. Qube Research & Technologies Ltd acquired a new stake in shares of Sweetgreen in the second quarter worth $538,000. Finally, Frontier Capital Management Co. LLC boosted its position in shares of Sweetgreen by 121.7% in the second quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company's stock worth $10,122,000 after buying an additional 373,350 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Price Performance

SG stock traded up $0.29 on Friday, reaching $8.37. The company's stock had a trading volume of 2,948,956 shares, compared to its average volume of 4,107,126. Sweetgreen has a 52 week low of $4.49 and a 52 week high of $16.70. The company has a market capitalization of $994.01 million, a P/E ratio of 69.71 and a beta of 2.17. The firm has a fifty day moving average of $8.38 and a two-hundred day moving average of $6.96.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analyst estimates of $163.94 million. During the same quarter last year, the firm posted ($0.21) EPS. The company's revenue was down 2.9% compared to the same quarter last year. As a group, equities analysts expect that Sweetgreen will post -0.76 EPS for the current fiscal year.

Sweetgreen Company Profile

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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