Sweetgreen (NYSE:SG) Trading Up 4.6% - Time to Buy?

Key Points

• Sweetgreen shares rose 4.6% on Monday, trading as high as $8.84 before closing at $8.742, though volume was far below average.
• Analyst sentiment is mixed but improving: JPMorgan upgraded the stock to overweight and lifted its target to $13, while the overall consensus remains Hold with an average price target of $7.57.
• Recent results were weak, with Sweetgreen reporting a larger-than-expected loss of $0.27 per share and revenue of $161.5 million, down 2.9% year over year.

Sweetgreen, Inc. (NYSE:SG - Get Free Report) shares rose 4.6% during trading on Monday . The company traded as high as $8.84 and last traded at $8.7420. 323,346 shares changed hands during trading, a decline of 93% from the average daily volume of 4,739,998 shares. The stock had previously closed at $8.36.

Analyst Upgrades and Downgrades

SG has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded Sweetgreen from a "neutral" rating to an "overweight" rating and increased their target price for the company from $8.00 to $13.00 in a research note on Friday, May 22nd. Citizens Jmp assumed coverage on Sweetgreen in a research report on Monday, March 30th. They set a "mkt underperform" rating and a $4.50 price target on the stock. Wall Street Zen upgraded Sweetgreen from a "strong sell" rating to a "sell" rating in a report on Saturday, May 23rd. TD Cowen increased their price objective on shares of Sweetgreen from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Wednesday, May 27th. Finally, Weiss Ratings raised shares of Sweetgreen from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 22nd. Four 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, Sweetgreen has a consensus rating of "Hold" and an average price target of $7.57.

Sweetgreen Stock Down 1.5%

The company has a market capitalization of $978.79 million, a price-to-earnings ratio of 69.05 and a beta of 2.17. The firm has a 50 day moving average price of $8.38 and a two-hundred day moving average price of $6.96.

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

Institutional Trading of Sweetgreen

A number of hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC raised its holdings in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company's stock valued at $30,000 after acquiring an additional 2,349 shares in the last quarter. Certuity LLC grew its holdings 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 grew its holdings in Sweetgreen by 18.7% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 17,202 shares of the company's stock worth $116,000 after acquiring an additional 2,715 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Sweetgreen by 26.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,362 shares of the company's stock worth $214,000 after purchasing an additional 2,987 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Sweetgreen by 6.2% in 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. 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.

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