Sweetgreen (NYSE:SG) Stock Price Down 4.1% - Should You Sell?

Key Points

• Sweetgreen shares fell 4.1% to about $6.18, below both the 50-day moving average of $8.07 and the 200-day average of $6.91.
• Analysts maintain a consensus “Hold” rating with a $7.72 price target; four recommend buying, eleven recommend holding and three recommend selling.
• The latest quarter missed expectations, with an adjusted loss of $0.27 per share versus $0.23 expected and revenue down 2.9% year over year to $161.52 million. Analysts project a full-year loss of $0.51 per share.

Sweetgreen, Inc. (NYSE:SG - Get Free Report)'s stock price traded down 4.1% during trading on Monday . The stock traded as low as $6.38 and last traded at $6.1830. Approximately 1,010,366 shares were traded during trading, a decline of 79% from the average daily volume of 4,878,371 shares. The stock had previously closed at $6.45.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SG shares. BNP Paribas Exane increased their price objective on Sweetgreen from $4.50 to $5.00 and gave the stock an "underperform" rating in a research report on Friday, May 8th. Weiss Ratings raised shares of Sweetgreen from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 22nd. DA Davidson lifted their price target on shares of Sweetgreen from $5.50 to $7.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. UBS Group increased their price objective on shares of Sweetgreen from $6.50 to $7.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Finally, TD Cowen boosted their target price on Sweetgreen from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Wednesday, May 27th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $7.72.

Sweetgreen Stock Performance

The company has a 50 day moving average of $8.07 and a 200 day moving average of $6.91. The stock has a market capitalization of $712.39 million, a price-to-earnings ratio of 49.80 and a beta of 2.20.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The company had revenue of $161.52 million during the quarter, compared to analysts' expectations of $163.94 million. During the same quarter in the previous year, the business posted ($0.21) EPS. The business's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts expect that Sweetgreen, Inc. will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC lifted its stake in 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 purchasing an additional 2,349 shares during the last quarter. Certuity LLC raised its stake in Sweetgreen by 0.8% during the 4th quarter. Certuity LLC now owns 302,500 shares of the company's stock worth $2,045,000 after acquiring an additional 2,500 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in Sweetgreen by 18.7% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 17,202 shares of the company's stock valued at $116,000 after acquiring an additional 2,715 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Sweetgreen by 26.3% in the second quarter. Tower Research Capital LLC TRC now owns 14,362 shares of the company's stock valued at $214,000 after acquiring an additional 2,987 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Sweetgreen by 6.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company's stock worth $1,516,000 after purchasing an additional 3,553 shares during the last quarter. Hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.