Sweetgreen (NYSE:SG) Price Target Raised to $7.00

Key Points

• DA Davidson raised Sweetgreen’s price target from $5.50 to $7.00 while keeping a neutral rating, implying modest upside from the current share price.
• Analyst sentiment remains mixed: the consensus rating is “Hold,” with 3 Buy, 13 Hold, and 3 Sell ratings, and a consensus price target of $7.60.
• Sweetgreen recently reported weaker-than-expected results, missing EPS and revenue estimates for the quarter, while shares traded near $6.78 amid a wide 52-week range.

Sweetgreen (NYSE:SG - Get Free Report) had its price target boosted by DA Davidson from $5.50 to $7.00 in a note issued to investors on Monday, Marketbeat.com reports. The firm presently has a "neutral" rating on the stock. DA Davidson's target price indicates a potential upside of 3.18% from the company's current price.

A number of other equities analysts have also weighed in on the company. Piper Sandler decreased their target price on Sweetgreen from $9.00 to $7.00 and set a "neutral" rating on the stock in a research note on Friday, March 27th. BNP Paribas Exane upped their price objective on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an "underperform" rating in a research report on Friday. Weiss Ratings reiterated a "sell (e+)" rating on shares of Sweetgreen in a research report on Friday, March 27th. The Goldman Sachs Group raised their price objective on shares of Sweetgreen from $5.00 to $5.60 and gave the company a "sell" rating in a research report on Wednesday, January 28th. Finally, JPMorgan Chase & Co. raised their price objective on Sweetgreen from $6.00 to $8.00 and gave the company a "neutral" rating in a report on Tuesday, January 20th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sweetgreen presently has an average rating of "Hold" and a consensus price target of $7.60.

Sweetgreen Stock Performance

NYSE SG traded down $0.22 on Monday, hitting $6.78. The stock had a trading volume of 1,306,813 shares, compared to its average volume of 4,254,479. The firm has a 50-day moving average of $5.91 and a 200-day moving average of $6.36. Sweetgreen has a 52-week low of $4.49 and a 52-week high of $16.70. The company has a market capitalization of $805.94 million, a price-to-earnings ratio of 55.65 and a beta of 2.03.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.04). Sweetgreen had a net margin of 2.49% and a negative return on equity of 35.14%. The firm had revenue of $161.52 million for the quarter, compared to analysts' expectations of $163.95 million. During the same quarter last year, the firm earned ($0.21) earnings per share. The firm's revenue for the quarter was down 2.9% on a year-over-year basis. As a group, research analysts anticipate that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Nicolas Jammet acquired 4,428 shares of Sweetgreen stock in a transaction dated Thursday, March 5th. The stock was purchased at an average cost of $5.71 per share, with a total value of $25,283.88. Following the completion of the purchase, the insider directly owned 22,543 shares in the company, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Goldman Sachs Group Inc bought 594,553 shares of the business's stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the transaction, the insider directly owned 11,900,255 shares of the company's stock, valued at $67,712,450.95. This represents a 5.26% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 19.78% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp bought a new stake in Sweetgreen in the 1st quarter valued at $38,000. Onyx Bridge Wealth Group LLC bought a new stake in shares of Sweetgreen in the first quarter worth about $56,000. Caitong International Asset Management Co. Ltd boosted its stake in Sweetgreen by 548.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,437 shares of the company's stock valued at $91,000 after buying an additional 11,364 shares during the last quarter. Alpine Global Management LLC purchased a new position in Sweetgreen during the 4th quarter valued at approximately $92,000. Finally, Aristides Capital LLC purchased a new position in Sweetgreen during the 4th quarter valued at approximately $185,000. 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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