Analysts Set Sweetgreen, Inc. (NYSE:SG) PT at $25.23

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has earned an average recommendation of "Hold" from the fourteen research firms that are covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $25.23.

Several brokerages recently weighed in on SG. TD Cowen reissued a "hold" rating and issued a $19.00 price objective on shares of Sweetgreen in a report on Tuesday. The Goldman Sachs Group cut their target price on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research report on Wednesday, June 4th. Oppenheimer lowered their price target on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Piper Sandler dropped their price target on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, TD Securities reiterated a "hold" rating and issued a $15.00 price objective (down from $25.00) on shares of Sweetgreen in a research note on Tuesday.

Sweetgreen Trading Up 0.8%

Shares of NYSE:SG traded up $0.11 during mid-day trading on Wednesday, reaching $14.51. The company had a trading volume of 917,092 shares, compared to its average volume of 4,415,553. Sweetgreen has a one year low of $11.86 and a one year high of $45.12. The company's 50-day moving average price is $14.88 and its 200-day moving average price is $22.91. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -18.86 and a beta of 2.06.

Sweetgreen (NYSE:SG - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.21). The business had revenue of $166.30 million during the quarter, compared to the consensus estimate of $164.68 million. Sweetgreen had a negative return on equity of 19.72% and a negative net margin of 13.04%. The business's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted ($0.23) earnings per share. On average, research analysts anticipate that Sweetgreen will post -0.74 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mitch Reback sold 10,088 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.23, for a total value of $153,640.24. Following the sale, the chief financial officer owned 334,421 shares in the company, valued at approximately $5,093,231.83. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Clifford Burrows purchased 19,200 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were acquired at an average price of $13.11 per share, with a total value of $251,712.00. Following the transaction, the director owned 19,200 shares in the company, valued at approximately $251,712. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 21.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC increased its position in shares of Sweetgreen by 3,571.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock valued at $33,000 after purchasing an additional 1,000 shares during the last quarter. Headlands Technologies LLC boosted its stake in Sweetgreen by 156.0% in the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after buying an additional 741 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after acquiring an additional 494 shares during the last quarter. Spire Wealth Management grew its position in Sweetgreen by 47.1% during the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock valued at $50,000 after acquiring an additional 635 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new position in shares of Sweetgreen during the fourth quarter worth approximately $53,000. 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.