Sweetgreen's (SG) Neutral Rating Reiterated at Bank of America

Key Points

• Bank of America has reiterated a "neutral" rating for Sweetgreen (SG) with a new price target of $9.50, significantly reduced from $18.00, indicating a potential upside of 15.50% from the stock's previous close.
• Sweetgreen's recent quarterly earnings revealed a loss of ($0.20) EPS, which missed analysts' expectations, alongside revenue of $185.58 million that fell short of the $193.47 million estimate.
• The company has a current market cap of approximately $972.29 million and is facing downward price adjustments from various analysts, with average ratings showing mixed sentiment among investors.

Sweetgreen (NYSE:SG - Get Free Report)'s stock had its "neutral" rating restated by Bank of America in a report released on Monday,Benzinga reports. They presently have a $9.50 price objective on the stock, down from their prior price objective of $18.00. Bank of America's price target suggests a potential upside of 15.50% from the stock's previous close.

SG has been the subject of several other research reports. Morgan Stanley reduced their price objective on shares of Sweetgreen from $22.00 to $17.00 and set an "equal weight" rating for the company in a research note on Monday, July 14th. TD Cowen cut their target price on shares of Sweetgreen from $15.00 to $10.00 and set a "hold" rating for the company in a research report on Friday, August 8th. Barclays cut their target price on shares of Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating for the company in a research report on Friday, August 8th. Royal Bank Of Canada cut their target price on shares of Sweetgreen from $25.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Piper Sandler cut their target price on shares of Sweetgreen from $20.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sweetgreen currently has an average rating of "Hold" and an average price target of $16.73.

Sweetgreen Trading Up 1.3%

SG stock opened at $8.23 on Monday. Sweetgreen has a 1 year low of $7.84 and a 1 year high of $45.12. The company has a fifty day simple moving average of $9.53 and a 200 day simple moving average of $14.21. The firm has a market cap of $972.29 million, a PE ratio of -9.79 and a beta of 1.97.

Sweetgreen (NYSE:SG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.08). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 22.21%. The business had revenue of $185.58 million during the quarter, compared to analyst estimates of $193.47 million. During the same period in the previous year, the firm posted ($0.13) EPS. The firm's revenue for the quarter was up .5% on a year-over-year basis. Sweetgreen has set its FY 2025 guidance at EPS. As a group, analysts forecast that Sweetgreen will post -0.74 EPS for the current fiscal year.

Insider Activity

In related news, CFO Mitch Reback sold 11,530 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the sale, the chief financial officer owned 322,891 shares of the company's stock, valued at $2,967,368.29. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 19.78% of the company's stock.

Institutional Trading of Sweetgreen

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc bought a new stake in Sweetgreen in the second quarter valued at about $30,000. Nisa Investment Advisors LLC increased its stake in Sweetgreen by 98.2% in the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company's stock valued at $32,000 after acquiring an additional 1,055 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in Sweetgreen by 312.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company's stock valued at $42,000 after buying an additional 2,127 shares in the last quarter. Spire Wealth Management boosted its position in Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company's stock valued at $50,000 after buying an additional 635 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in Sweetgreen in the first quarter valued at about $71,000. Institutional investors own 95.75% of the company's stock.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.

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