Sweetgreen (NYSE:SG) Price Target Raised to $5.00

Key Points

• BNP Paribas Exane raised its Sweetgreen price target to $5.00 (from $4.50) but kept an "underperform" rating, and its objective implies about a 28.3% downside from the stock's prior close.
• Sweetgreen missed its latest quarter: GAAP EPS of ($0.27) vs. ($0.23) expected and revenue of $161.5M vs. $163.95M, with revenue down 2.9% year‑over‑year and a negative net margin of ~19.7%; analysts expect ~($0.75) EPS for the fiscal year.
• The analyst landscape is mixed—3 Buys, 13 Holds and 3 Sells—leaving a consensus rating of "Hold" and a consensus price target of $7.69; the stock recently traded around $6.97 with a market cap near $828.5M.

Sweetgreen (NYSE:SG - Get Free Report) had its target price lifted by stock analysts at BNP Paribas Exane from $4.50 to $5.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "underperform" rating on the stock. BNP Paribas Exane's price objective suggests a potential downside of 28.31% from the stock's previous close.

A number of other research analysts have also recently commented on SG. TD Cowen restated a "hold" rating on shares of Sweetgreen in a research report on Friday. Oppenheimer reduced their price objective on shares of Sweetgreen from $10.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, February 27th. Wolfe Research initiated coverage on shares of Sweetgreen in a report on Monday, March 9th. They issued a "peer perform" rating on the stock. DA Davidson began coverage on shares of Sweetgreen in a research report on Friday, March 6th. They issued a "neutral" rating and a $5.50 target price for the company. Finally, Citizens Jmp assumed coverage on shares of Sweetgreen in a research report on Monday, March 30th. They set a "mkt underperform" rating and a $4.50 price target on the stock. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $7.69.

Sweetgreen Price Performance

NYSE:SG traded up $0.10 during trading hours on Friday, reaching $6.97. 4,934,284 shares of the company were exchanged, compared to its average volume of 4,238,100. The company has a market capitalization of $828.51 million, a P/E ratio of -6.11 and a beta of 2.03. Sweetgreen has a 1-year low of $4.49 and a 1-year high of $17.27. The business has a 50 day moving average of $5.91 and a 200 day moving average of $6.36.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The company had revenue of $161.52 million during the quarter, compared to analyst estimates of $163.95 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. Sweetgreen's revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, equities research analysts anticipate that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of the company's stock in a transaction dated Tuesday, April 7th. The stock was purchased at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the acquisition, the insider owned 11,900,255 shares of the company's stock, valued at $67,712,450.95. The trade was a 5.26% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicolas Jammet purchased 4,428 shares of Sweetgreen stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the purchase, the insider owned 22,543 shares in the company, valued at $128,720.53. This represents a 24.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 19.78% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently added to or reduced their stakes in SG. Larson Financial Group LLC increased its holdings in shares of Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock worth $30,000 after buying an additional 2,349 shares in the last quarter. Bogart Wealth LLC boosted its holdings in shares of Sweetgreen by 1,150.0% during the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company's stock valued at $40,000 after acquiring an additional 4,600 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Sweetgreen by 124.1% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company's stock worth $50,000 after acquiring an additional 3,484 shares during the last quarter. Fifth Third Bancorp bought a new stake in Sweetgreen during the 1st quarter worth $38,000. Finally, CWM LLC increased its holdings in Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company's stock worth $50,000 after purchasing an additional 4,984 shares in the last quarter. 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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