JPMorgan Chase & Co. Lowers Sweetgreen (NYSE:SG) Price Target to $20.00

Sweetgreen (NYSE:SG - Free Report) had its price target trimmed by JPMorgan Chase & Co. from $25.00 to $20.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other equities analysts have also recently commented on SG. UBS Group decreased their target price on Sweetgreen from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Piper Sandler cut their price objective on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 price target on shares of Sweetgreen in a research report on Tuesday, February 25th. Oppenheimer dropped their target price on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. Finally, The Goldman Sachs Group dropped their target price on Sweetgreen from $27.00 to $23.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $31.00.

Sweetgreen Trading Down 1.5%

SG traded down $0.23 during trading on Monday, hitting $15.00. 4,571,472 shares of the company's stock traded hands, compared to its average volume of 3,452,264. The company's 50 day simple moving average is $20.89 and its two-hundred day simple moving average is $28.73. Sweetgreen has a 12-month low of $14.61 and a 12-month high of $45.12. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -19.23 and a beta of 2.31.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.21). The firm had revenue of $166.30 million for 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 for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted ($0.23) EPS. On average, equities analysts expect that Sweetgreen will post -0.74 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Mitch Reback sold 4,000 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total value of $84,280.00. Following the transaction, the chief financial officer now directly owns 344,509 shares of the company's stock, valued at $7,258,804.63. This represents a 1.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nathaniel Ru sold 2,123 shares of the company's stock in a transaction 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 directly owns 1,785,099 shares in the company, valued at approximately $42,485,356.20. The trade was a 0.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,852 shares of company stock worth $871,417 over the last 90 days. Company insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. grew its position in shares of Sweetgreen by 4.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 10,479 shares of the company's stock valued at $336,000 after acquiring an additional 473 shares during the period. Cypress Wealth Services LLC increased its holdings in Sweetgreen by 6.1% in the 4th quarter. Cypress Wealth Services LLC now owns 8,423 shares of the company's stock valued at $270,000 after purchasing an additional 483 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Sweetgreen by 45.7% in 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 last quarter. Hillsdale Investment Management Inc. increased its holdings in Sweetgreen by 1.2% in 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. Finally, Oberweis Asset Management Inc. grew its stake in shares of Sweetgreen by 0.6% in the fourth quarter. Oberweis Asset Management Inc. now owns 96,201 shares of the company's stock worth $3,084,000 after acquiring an additional 610 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.