Sweetgreen (NYSE:SG) Raised to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Sweetgreen from “strong sell” to “sell,” indicating a less bearish but still negative view of the stock.
• Analyst sentiment remains mixed: four analysts rate Sweetgreen a Buy, twelve a Hold and three a Sell, with an average rating of “Hold” and an average price target of $7.10.
• Sweetgreen’s latest quarterly results missed expectations, reporting a $0.22 loss per share versus the $0.13 expected and revenue of $192.66 million versus the $194.50 million consensus estimate.

Sweetgreen (NYSE:SG - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a note issued to investors on Sunday.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Sweetgreen from $7.00 to $6.00 and set an "equal weight" rating on the stock in a report on Friday, August 7th. JPMorgan Chase & Co. upgraded Sweetgreen from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $8.00 to $13.00 in a report on Friday, May 22nd. Citigroup reduced their price objective on shares of Sweetgreen from $10.00 to $8.00 and set a "buy" rating for the company in a research note on Friday, August 7th. DA Davidson lowered their price target on shares of Sweetgreen from $7.00 to $5.50 and set a "neutral" rating on the stock in a report on Monday, August 10th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Sweetgreen in a research note on Monday, August 10th. Four analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, Sweetgreen has an average rating of "Hold" and an average target price of $7.10.

Sweetgreen Price Performance

NYSE:SG opened at $6.25 on Friday. Sweetgreen has a 1-year low of $4.49 and a 1-year high of $10.63. The firm's 50-day moving average price is $7.43 and its 200-day moving average price is $6.80. The company has a market capitalization of $743.03 million, a PE ratio of 62.54 and a beta of 2.19.

Sweetgreen (NYSE:SG - Get Free Report) last released its 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 company had revenue of $192.66 million for the quarter, compared to analysts' expectations of $194.50 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. Sweetgreen's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.20) earnings per share. Equities analysts anticipate that Sweetgreen will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Sweetgreen

Large investors have recently modified their holdings of the company. Larson Financial Group LLC increased its holdings in Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock valued at $30,000 after purchasing an additional 2,349 shares during the period. Fifth Third Bancorp bought a new stake in Sweetgreen during the first quarter worth about $38,000. CWM LLC increased its stake in shares of Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company's stock valued at $50,000 after purchasing an additional 4,984 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Sweetgreen by 281.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company's stock worth $53,000 after buying an additional 5,839 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC purchased a new position in Sweetgreen during the first quarter valued at $56,000. 95.75% of the stock is currently owned by institutional investors.

About Sweetgreen

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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