Sweetgreen (NYSE:SG) Stock Price Down 7.9% - Time to Sell?

Key Points

• Sweetgreen shares fell 7.9% on Monday, trading as low as $6.58 after closing at $7.08, on volume well below average.
• Recent analyst activity was mixed, but the overall view remains cautious: the stock carries a Hold consensus with a $7.57 average price target, though JPMorgan recently upgraded it to Overweight and raised its target to $13.
• The company’s latest earnings missed expectations, reporting a $0.27 loss per share versus a $0.23 estimate, while revenue also came in slightly below forecasts and was down 2.9% year over year.

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) were down 7.9% on Monday . The company traded as low as $6.58 and last traded at $6.5190. Approximately 1,307,409 shares were traded during trading, a decline of 73% from the average session volume of 4,839,057 shares. The stock had previously closed at $7.08.

Analyst Ratings Changes

SG has been the topic of a number of recent analyst reports. Oppenheimer increased their price objective on Sweetgreen from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. raised Sweetgreen from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $8.00 to $13.00 in a report on Friday, May 22nd. Piper Sandler reduced their price objective on shares of Sweetgreen from $9.00 to $7.00 and set a "neutral" rating for the company in a research report on Friday, March 27th. Weiss Ratings upgraded shares of Sweetgreen from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Sweetgreen from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 23rd. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $7.57.

Sweetgreen Price Performance

The company has a market capitalization of $774.18 million, a PE ratio of 54.30 and a beta of 2.17. The stock has a 50-day simple moving average of $8.39 and a 200 day simple moving average of $6.97.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Friday, May 8th. The company reported ($0.27) earnings per share 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 33.07%. The firm had revenue of $161.52 million during the quarter, compared to analysts' expectations of $163.94 million. During the same quarter in the prior year, the business earned ($0.21) EPS. The company's quarterly revenue was down 2.9% compared to the same quarter last year. As a group, research analysts predict that Sweetgreen, Inc. will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SG. Royal Bank of Canada increased its stake in shares of Sweetgreen by 22.4% during the 1st quarter. Royal Bank of Canada now owns 291,477 shares of the company's stock worth $7,292,000 after purchasing an additional 53,427 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Sweetgreen by 6.2% during the 1st 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. Prudential Financial Inc. purchased a new stake in Sweetgreen in the 2nd quarter worth approximately $197,000. Qube Research & Technologies Ltd acquired a new position in shares of Sweetgreen during the 2nd quarter valued at about $538,000. Finally, Frontier Capital Management Co. LLC boosted its holdings in Sweetgreen by 121.7% in the second quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company's stock valued at $10,122,000 after acquiring an additional 373,350 shares during the last quarter. Institutional investors and hedge funds 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.