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

Key Points

• Sweetgreen, Inc. has received a consensus recommendation of "Hold" from fourteen research firms, with eight recommendations to hold and six to buy.
• The average 12-month price target for Sweetgreen has dropped significantly, now estimated at $17.69, down from previous highs.
• Sweetgreen reported a loss of $0.20 EPS for the last quarter, missing estimates, and had revenue of $185.58 million, which was below analyst expectations.

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) have received a consensus rating of "Hold" from the fourteen ratings firms that are presently covering the company, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $17.6923.

SG has been the subject of several research reports. Royal Bank Of Canada decreased their price target on shares of Sweetgreen from $25.00 to $13.00 and set an "outperform" rating for the company in a report on Friday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Sweetgreen from $20.00 to $16.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. Piper Sandler reduced their target price on shares of Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. Morgan Stanley reduced their target price on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research note on Monday, July 14th. Finally, The Goldman Sachs Group reduced their target price on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating for the company in a research note on Wednesday, June 4th.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total transaction of $105,960.70. Following the completion of the transaction, the chief financial officer directly owned 322,891 shares of the company's stock, valued at $2,967,368.29. The trade was a 3.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Liontrust Investment Partners LLP boosted its stake in Sweetgreen by 53.4% during the 2nd quarter. Liontrust Investment Partners LLP now owns 187,635 shares of the company's stock valued at $2,792,000 after purchasing an additional 65,310 shares during the period. FORA Capital LLC bought a new stake in shares of Sweetgreen during the 2nd quarter worth about $644,000. Tower Research Capital LLC TRC raised its position in shares of Sweetgreen by 26.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,362 shares of the company's stock worth $214,000 after buying an additional 2,987 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Sweetgreen by 90.7% during the 2nd quarter. Captrust Financial Advisors now owns 27,226 shares of the company's stock worth $405,000 after buying an additional 12,946 shares in the last quarter. Finally, HRT Financial LP bought a new stake in shares of Sweetgreen during the 2nd quarter worth about $2,564,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

Shares of NYSE SG traded up $0.05 during midday trading on Thursday, hitting $9.15. The company's stock had a trading volume of 3,416,418 shares, compared to its average volume of 7,445,451. Sweetgreen has a 1-year low of $8.45 and a 1-year high of $45.12. The firm's fifty day moving average price is $12.45 and its 200-day moving average price is $17.32. The firm has a market cap of $1.08 billion, a P/E ratio of -10.89 and a beta of 2.04.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate 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 business had revenue of $185.58 million during the quarter, compared to analyst estimates of $193.47 million. During the same period last year, the firm posted ($0.13) earnings per share. The company's quarterly revenue was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. As a group, research analysts predict that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

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.