Sweetgreen (NYSE:SG) Price Target Cut to $30.00 by Analysts at UBS Group

Sweetgreen (NYSE:SG - Get Free Report) had its price objective dropped by research analysts at UBS Group from $35.00 to $30.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price target would indicate a potential upside of 101.88% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group cut their price target on shares of Sweetgreen from $37.00 to $32.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Oppenheimer cut their target price on Sweetgreen from $41.00 to $35.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada restated an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a research note on Tuesday, February 25th. Piper Sandler reduced their price objective on Sweetgreen from $39.00 to $27.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Finally, Citigroup decreased their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $33.73.

Sweetgreen Stock Performance

Shares of Sweetgreen stock traded down $3.31 during midday trading on Monday, hitting $14.86. The company had a trading volume of 8,177,539 shares, compared to its average volume of 3,947,417. The company has a 50 day moving average of $21.86 and a 200 day moving average of $29.65. The stock has a market capitalization of $1.74 billion, a P/E ratio of -19.05 and a beta of 2.31. Sweetgreen has a 52-week low of $14.71 and a 52-week high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, meeting the consensus estimate of ($0.21). The firm 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 18.82% and a negative net margin of 13.27%. The company's revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned ($0.23) earnings per share. Equities research analysts forecast that Sweetgreen will post -0.74 EPS for the current year.

Insider Activity at Sweetgreen

In related news, CFO Mitch Reback sold 10,926 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total value of $288,774.18. Following the completion of the sale, the chief financial officer now directly owns 344,055 shares of the company's stock, valued at approximately $9,093,373.65. This represents a 3.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Rossann Williams sold 4,977 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $23.80, for a total transaction of $118,452.60. Following the sale, the chief operating officer now owns 95,516 shares in the company, valued at approximately $2,273,280.80. The trade was a 4.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,852 shares of company stock worth $871,417. 21.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA bought a new stake in Sweetgreen in the 4th quarter valued at $52,558,000. Invesco Ltd. increased its holdings in shares of Sweetgreen by 40.9% in the fourth quarter. Invesco Ltd. now owns 5,516,223 shares of the company's stock worth $176,850,000 after purchasing an additional 1,601,666 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Sweetgreen by 30.1% in the fourth quarter. Wellington Management Group LLP now owns 4,432,504 shares of the company's stock worth $142,106,000 after buying an additional 1,025,341 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in Sweetgreen by 189.9% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,134,398 shares of the company's stock valued at $36,369,000 after buying an additional 743,157 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in Sweetgreen by 848.5% during the 4th quarter. Voya Investment Management LLC now owns 748,581 shares of the company's stock valued at $24,000,000 after buying an additional 669,657 shares in the last quarter. 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.