Sweetgreen (NYSE:SG) Price Target Lowered to $6.00 at Wells Fargo & Company

Key Points

• Wells Fargo lowered Sweetgreen’s price target from $7 to $6 while maintaining an “equal weight” rating, implying roughly 14.4% upside from the reported share price.
• Analyst sentiment remains cautious: Sweetgreen has a consensus “Hold” rating and an average price target of $7.47, with recent targets ranging from $5 at TD Cowen to $10 at Oppenheimer.
• Sweetgreen’s latest quarterly results fell short of expectations, reporting a $0.22 per-share loss versus the anticipated $0.13 loss and revenue of $192.66 million versus the $194.50 million consensus estimate.

Sweetgreen (NYSE:SG - Get Free Report) had its price objective dropped by investment analysts at Wells Fargo & Company from $7.00 to $6.00 in a report issued on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price target would suggest a potential upside of 14.42% from the stock's current price.

SG has been the topic of several other reports. TD Cowen reduced their price objective on shares of Sweetgreen from $8.00 to $5.00 and set a "hold" rating on the stock in a research report on Friday. Weiss Ratings upgraded Sweetgreen from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 22nd. Oppenheimer upped their target price on Sweetgreen from $9.00 to $10.00 and gave the company an "outperform" rating in a research note on Wednesday, May 20th. Wall Street Zen upgraded Sweetgreen from a "strong sell" rating to a "sell" rating in a report on Saturday, May 23rd. Finally, UBS Group reissued a "neutral" rating on shares of Sweetgreen in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Sweetgreen has a consensus rating of "Hold" and an average price target of $7.47.

Sweetgreen Price Performance

NYSE:SG opened at $5.24 on Friday. The company has a market cap of $623.14 million, a price-to-earnings ratio of 46.05 and a beta of 2.19. Sweetgreen has a 1 year low of $4.49 and a 1 year high of $10.63. The stock's 50 day simple moving average is $7.75 and its two-hundred day simple moving average is $6.86.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The business had revenue of $192.66 million during the quarter, compared to the consensus estimate of $194.50 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.20) EPS. As a group, analysts anticipate that Sweetgreen will post -0.52 EPS for the current year.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Woodson Capital Management LP grew its stake in Sweetgreen by 152.6% during the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company's stock worth $40,560,000 after buying an additional 3,625,000 shares during the last quarter. Marshall Wace LLP boosted its stake in Sweetgreen by 1,428.8% in the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company's stock worth $31,313,000 after purchasing an additional 3,667,306 shares in the last quarter. Federated Hermes Inc. increased its stake in Sweetgreen by 366.8% during the 4th quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company's stock valued at $17,900,000 after purchasing an additional 2,080,628 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Sweetgreen by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company's stock worth $16,589,000 after buying an additional 16,281 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Sweetgreen by 35.6% during the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company's stock worth $15,520,000 after buying an additional 603,029 shares during the period. Hedge funds and other institutional investors own 95.75% of the company's stock.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company's menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.

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