Sweetgreen (NYSE:SG) Price Target Cut to $16.00 by Analysts at JPMorgan Chase & Co.

Sweetgreen (NYSE:SG - Get Free Report) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $20.00 to $16.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 22.79% from the stock's previous close.

Several other equities analysts have also recently commented on the company. Morgan Stanley reduced their target price on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. UBS Group dropped their price target on Sweetgreen from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating and issued a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. Piper Sandler lowered their target price on shares of Sweetgreen from $27.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, May 9th. Finally, The Goldman Sachs Group cut their price target 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. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $28.00.

Sweetgreen Stock Down 2.3%

NYSE:SG traded down $0.30 during mid-day trading on Wednesday, hitting $13.03. 1,863,515 shares of the stock traded hands, compared to its average volume of 3,694,228. The business's 50-day moving average price is $15.39 and its 200 day moving average price is $23.77. The company has a market cap of $1.53 billion, a PE ratio of -16.93 and a beta of 2.06. Sweetgreen has a 12-month low of $11.86 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, 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 net margin of 13.04% and a negative return on equity of 19.72%. The business's quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.23) EPS. Analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other news, Director Clifford Burrows bought 19,200 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the acquisition, the director now owns 19,200 shares of the company's stock, valued at approximately $251,712. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mitch Reback sold 4,000 shares of Sweetgreen stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total transaction of $84,280.00. Following the completion of the transaction, the chief financial officer now directly owns 344,509 shares in the company, valued at approximately $7,258,804.63. The trade was a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

A number of large investors have recently added to or reduced their stakes in SG. Summit Investment Advisors Inc. boosted its holdings in shares of Sweetgreen by 4.7% during the fourth quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock worth $336,000 after purchasing an additional 473 shares during the period. Tower Research Capital LLC TRC increased its holdings in Sweetgreen by 45.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company's stock valued at $50,000 after purchasing an additional 494 shares during the period. Hillsdale Investment Management Inc. raised its position in Sweetgreen by 1.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 50,164 shares of the company's stock valued at $1,608,000 after purchasing an additional 600 shares during the last quarter. Oberweis Asset Management Inc. lifted its holdings in Sweetgreen by 0.6% in the 4th quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock worth $3,084,000 after buying an additional 610 shares during the period. Finally, Arizona State Retirement System lifted its holdings in Sweetgreen by 2.1% in the 4th quarter. Arizona State Retirement System now owns 29,535 shares of the company's stock worth $947,000 after buying an additional 613 shares during the period. Institutional investors own 95.75% of the company's stock.

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.

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