Sweetgreen (NYSE:SG) Earns Equal Weight Rating from Analysts at Barclays

Equities research analysts at Barclays began coverage on shares of Sweetgreen (NYSE:SG - Get Free Report) in a research note issued to investors on Friday,Benzinga reports. The firm set an "equal weight" rating and a $16.00 price target on the stock. Barclays's price objective indicates a potential upside of 15.13% from the stock's previous close.

Several other analysts have also commented on the company. Oppenheimer cut their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a report on Friday, May 9th. Citigroup reduced their price target on shares of Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price objective on shares of Sweetgreen from $25.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. Piper Sandler cut their target price on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, UBS Group reduced their price objective on Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Sweetgreen presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.08.

Sweetgreen Trading Down 6.1%

Shares of SG opened at $13.90 on Friday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -17.82 and a beta of 2.06. The business's fifty day simple moving average is $17.69 and its two-hundred day simple moving average is $26.40. Sweetgreen has a 12 month low of $12.37 and a 12 month high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting analysts' consensus estimates of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The firm had revenue of $166.30 million during the quarter, compared to analyst estimates of $164.68 million. During the same period in the previous year, the business posted ($0.23) earnings per share. The business's revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts forecast that Sweetgreen will post -0.74 EPS for the current year.

Insider Activity at Sweetgreen

In other Sweetgreen news, Director Nathaniel Ru sold 2,123 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $23.80, for a total transaction of $50,527.40. Following the completion of the transaction, the director now owns 1,785,099 shares of the company's stock, valued at $42,485,356.20. This represents a 0.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the sale, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,014 shares of company stock valued at $736,283. 21.52% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SG. Stifel Financial Corp lifted its position in Sweetgreen by 55.3% during the fourth quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock valued at $403,000 after purchasing an additional 4,474 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Sweetgreen by 54.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after buying an additional 5,783 shares in the last quarter. LPL Financial LLC lifted its holdings in shares of Sweetgreen by 400.1% in the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after acquiring an additional 47,676 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Sweetgreen by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 849,512 shares of the company's stock worth $27,235,000 after acquiring an additional 19,263 shares in the last quarter. Finally, Csenge Advisory Group bought a new stake in Sweetgreen during the fourth quarter worth approximately $426,000. 95.75% of the stock is owned by hedge funds and other institutional investors.

About Sweetgreen

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.

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