Sweetgreen (NYSE:SG) Raised to "Overweight" at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Sweetgreen from “neutral” to “overweight” and set a $13 price target, implying about 44.7% upside from the stock’s current level.
• Despite the upgrade, Sweetgreen’s broader analyst view remains cautious: the stock has an overall Hold rating and a consensus price target of $7.98 from MarketBeat, with several firms still rating it neutral or sell.
• Sweetgreen recently reported mixed quarterly results, missing EPS and revenue estimates, while the stock traded around $8.98 with a market cap of about $1.07 billion.

Sweetgreen (NYSE:SG - Get Free Report) was upgraded by stock analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage currently has a $13.00 price target on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 44.70% from the stock's current price.

Other research analysts have also recently issued reports about the stock. TD Cowen lifted their price target on shares of Sweetgreen from $5.00 to $7.00 and gave the company a "hold" rating in a research report on Friday, May 8th. Oppenheimer lifted their price target on shares of Sweetgreen from $9.00 to $10.00 and gave the company an "outperform" rating in a research report on Wednesday. The Goldman Sachs Group lifted their price target 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. UBS Group lifted their price target on shares of Sweetgreen from $6.50 to $7.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Finally, Weiss Ratings raised shares of Sweetgreen from a "sell (e+)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Sweetgreen currently has an average rating of "Hold" and a consensus price target of $7.98.

Sweetgreen Trading Down 0.3%

NYSE:SG opened at $8.98 on Friday. The company has a 50-day moving average price of $6.31 and a 200-day moving average price of $6.39. Sweetgreen has a 12 month low of $4.49 and a 12 month high of $16.70. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 74.87 and a beta of 2.03.

Sweetgreen (NYSE:SG - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The company had revenue of $161.52 million during the quarter, compared to analysts' expectations of $163.95 million. During the same period in the prior year, the business posted ($0.21) earnings per share. The company's revenue for the quarter was down 2.9% on a year-over-year basis. Equities analysts forecast that Sweetgreen will post -0.76 EPS for the current fiscal year.

Insider Transactions at Sweetgreen

In other news, insider Nicolas Jammet acquired 4,428 shares of Sweetgreen stock in a transaction on Thursday, March 5th. The stock was acquired at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the purchase, the insider owned 22,543 shares in the company, valued at $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Goldman Sachs Group Inc acquired 594,553 shares of Sweetgreen stock in a transaction on Tuesday, April 7th. The shares were purchased at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the purchase, the insider owned 11,900,255 shares in the company, valued at $67,712,450.95. This represents a 5.26% increase in their position. The SEC filing for this purchase provides additional information. 19.78% of the stock is currently owned by company insiders.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of SG. Marshall Wace LLP increased its stake in Sweetgreen by 1,428.8% during the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company's stock valued at $31,313,000 after purchasing an additional 3,667,306 shares in the last quarter. Woodson Capital Management LP increased 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 valued at $40,560,000 after purchasing an additional 3,625,000 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. Greenhouse Funds LLLP increased its stake in Sweetgreen by 82.8% during the 3rd quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company's stock valued at $31,496,000 after purchasing an additional 1,788,175 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Sweetgreen by 240.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company's stock valued at $13,509,000 after purchasing an additional 1,196,222 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

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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