Sweetgreen (NYSE:SG) Price Target Lowered to $8.00 at Barclays

Key Points

• Barclays has lowered the price target for Sweetgreen from $10.00 to $8.00, maintaining an "equal weight" rating, which suggests a potential upside of just 1.98% from its previous close.
• Sweetgreen's recent earnings report showed a loss of ($0.20) EPS, missing analysts' estimates and revealing a 14.29% negative net margin.
• The stock has seen a decrease of 3.4% in trading, reaching $7.85, with a market cap of approximately $927.36 million.

Sweetgreen (NYSE:SG - Get Free Report) had its price objective reduced by equities research analysts at Barclays from $10.00 to $8.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's target price would suggest a potential upside of 1.98% from the company's previous close.

Several other brokerages have also recently weighed in on SG. Morgan Stanley set a $10.00 target price on Sweetgreen in a research note on Tuesday. Piper Sandler decreased their target price on Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a research note on Friday, August 8th. William Blair reissued an "outperform" rating on shares of Sweetgreen in a research note on Friday, September 5th. Sanford C. Bernstein set a $8.00 target price on shares of Sweetgreen in a research note on Wednesday. Finally, UBS Group cut their target price on shares of Sweetgreen from $19.00 to $13.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Sweetgreen currently has an average rating of "Hold" and an average target price of $15.04.

Sweetgreen Trading Down 3.4%

SG traded down $0.28 during trading on Wednesday, reaching $7.85. 3,292,213 shares of the company were exchanged, compared to its average volume of 4,966,268. The stock has a market cap of $927.36 million, a P/E ratio of -9.35 and a beta of 1.97. The firm has a 50 day moving average of $8.48 and a 200 day moving average of $12.84. Sweetgreen has a 52 week low of $7.23 and a 52 week high of $45.12.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). The firm had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The company's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.13) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. As a group, analysts forecast that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other news, CFO Mitch Reback sold 11,530 shares of Sweetgreen stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $9.19, for a total transaction of $105,960.70. Following the sale, the chief financial officer owned 322,891 shares of the company's stock, valued at approximately $2,967,368.29. This trade represents a 3.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.78% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SG. Baillie Gifford & Co. lifted its position in shares of Sweetgreen by 3.4% during the first quarter. Baillie Gifford & Co. now owns 11,707,090 shares of the company's stock worth $292,911,000 after purchasing an additional 386,141 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Sweetgreen by 30.0% during the first quarter. Wellington Management Group LLP now owns 5,762,598 shares of the company's stock worth $144,180,000 after purchasing an additional 1,330,094 shares in the last quarter. Durable Capital Partners LP lifted its position in shares of Sweetgreen by 29.5% during the first quarter. Durable Capital Partners LP now owns 4,525,109 shares of the company's stock worth $113,218,000 after purchasing an additional 1,030,176 shares in the last quarter. Spyglass Capital Management LLC lifted its position in shares of Sweetgreen by 15.2% during the second quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company's stock worth $58,029,000 after purchasing an additional 513,643 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its position in shares of Sweetgreen by 89.5% during the second quarter. Stephens Investment Management Group LLC now owns 2,567,526 shares of the company's stock worth $38,205,000 after purchasing an additional 1,212,708 shares in the last quarter. 95.75% of the stock is currently 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.

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