Sweetgreen, Inc. (NYSE:SG) Receives $23.31 Average PT from Brokerages

Key Points

• Sweetgreen, Inc. has received an average broker rating of "Hold" from 14 brokerages, with a price target of $23.31.
• Recent research from multiple firms has lowered Sweetgreen's price targets significantly, with Goldman Sachs reducing its target from $23.00 to $15.00.
• Sweetgreen reported a revenue increase of 5.3% year-over-year for the last quarter, with earnings per share matching the consensus estimate at ($0.21).

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has received an average recommendation of "Hold" from the fourteen ratings firms that are covering the firm, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.31.

SG has been the topic of several research reports. UBS Group dropped their target price on shares of Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, May 5th. The Goldman Sachs Group dropped their price target on shares of Sweetgreen from $23.00 to $15.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 4th. Oppenheimer dropped their price target on shares of Sweetgreen from $35.00 to $29.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Morgan Stanley dropped their price target on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Monday, July 14th. Finally, TD Cowen reiterated a "hold" rating and set a $19.00 price target on shares of Sweetgreen in a research note on Tuesday, July 1st.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, Director Clifford Burrows bought 19,200 shares of Sweetgreen stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the acquisition, the director directly owned 19,200 shares in the company, valued at approximately $251,712. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Mitch Reback sold 10,088 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.23, for a total transaction of $153,640.24. Following the completion of 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 disclosure for this sale can be found here. 21.52% of the stock is owned by company insiders.

Institutional Trading of Sweetgreen

A number of large investors have recently made changes to their positions in the business. Headlands Technologies LLC grew its stake in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after acquiring an additional 741 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock worth $50,000 after purchasing an additional 494 shares in the last quarter. Spire Wealth Management grew its stake in Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock worth $50,000 after purchasing an additional 635 shares in the last quarter. Thematics Asset Management bought a new position in Sweetgreen in the fourth quarter worth approximately $69,000. Finally, GF Fund Management CO. LTD. bought a new position in Sweetgreen in the first quarter worth approximately $71,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Stock Performance

Shares of NYSE:SG traded down $0.40 during trading on Friday, reaching $13.33. 2,695,532 shares of the stock traded hands, compared to its average volume of 4,512,947. The stock has a 50-day moving average of $13.60 and a two-hundred day moving average of $20.35. Sweetgreen has a 52-week low of $11.86 and a 52-week high of $45.12. The stock has a market cap of $1.56 billion, a P/E ratio of -17.30 and a beta of 2.06.

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