Sweetgreen, Inc. (NYSE:SG) Receives $31.73 Average Target Price from Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) have received an average recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.00.

SG has been the subject of a number of research analyst reports. Citigroup lowered their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group lowered their target price on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. lowered their target price on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Monday. Royal Bank of Canada restated an "outperform" rating and set a $45.00 target price on shares of Sweetgreen in a report on Tuesday, February 25th. Finally, Oppenheimer decreased their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research note on Friday, May 9th.

Sweetgreen Stock Down 2.2%

Shares of SG traded down $0.35 during midday trading on Tuesday, reaching $15.27. The company had a trading volume of 5,160,130 shares, compared to its average volume of 3,438,710. Sweetgreen has a 1-year low of $14.61 and a 1-year high of $45.12. The stock has a market cap of $1.79 billion, a PE ratio of -19.58 and a beta of 2.31. The firm has a 50 day simple moving average of $21.26 and a 200-day simple moving average of $29.05.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings results 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 return on equity of 18.82% and a negative net margin of 13.27%. The business had revenue of $166.30 million during the quarter, compared to analysts' expectations of $164.68 million. During the same period in the prior year, the business posted ($0.23) EPS. The company's revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $26.43, for a total value of $288,774.18. Following the transaction, the chief financial officer now directly owns 344,055 shares in the company, valued at approximately $9,093,373.65. This trade represents a 3.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of Sweetgreen stock in a transaction that occurred 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 completion of the transaction, the director now owns 1,785,099 shares in the company, valued at $42,485,356.20. This trade represents a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,852 shares of company stock valued at $871,417. Corporate insiders own 21.52% of the company's stock.

Institutional Trading of Sweetgreen

Institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its position in Sweetgreen by 3,571.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company's stock worth $33,000 after purchasing an additional 1,000 shares in the last quarter. Headlands Technologies LLC increased its stake in Sweetgreen by 156.0% during the fourth quarter. Headlands Technologies LLC now owns 1,216 shares of the company's stock worth $39,000 after acquiring an additional 741 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Sweetgreen by 45.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after buying an additional 494 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Sweetgreen in the fourth quarter valued at about $53,000. Finally, Denver PWM LLC acquired a new stake in shares of Sweetgreen in the fourth quarter valued at about $60,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.