Sweetgreen (NYSE:SG) Price Target Cut to $15.00 by Analysts at The Goldman Sachs Group

Sweetgreen (NYSE:SG - Get Free Report) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $23.00 to $15.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 7.94% from the stock's current price.

Other equities analysts have also recently issued research reports about the company. Oppenheimer cut their price objective on Sweetgreen from $35.00 to $29.00 and set an "outperform" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. dropped their target price on Sweetgreen from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Piper Sandler dropped their target price on Sweetgreen from $27.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Morgan Stanley lowered their price objective on Sweetgreen from $24.00 to $22.00 and set an "equal weight" rating for the company in a research report on Friday, May 9th. Finally, Citigroup decreased their target price on Sweetgreen from $43.00 to $39.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Sweetgreen presently has an average rating of "Moderate Buy" and an average price target of $30.27.

Sweetgreen Price Performance

Shares of SG traded down $0.90 during midday trading on Wednesday, reaching $13.90. The stock had a trading volume of 4,881,454 shares, compared to its average volume of 3,570,382. Sweetgreen has a 52 week low of $12.37 and a 52 week high of $45.12. The firm's 50 day moving average price is $17.69 and its 200-day moving average price is $26.40. The company has a market capitalization of $1.63 billion, a P/E ratio of -17.82 and a beta of 2.06.

Sweetgreen (NYSE:SG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.21). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The company had revenue of $166.30 million for the quarter, compared to analyst estimates of $164.68 million. During the same period in the previous year, the firm earned ($0.23) earnings per share. Sweetgreen's revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts forecast that Sweetgreen will post -0.74 earnings per share for the current year.

Insider Activity at Sweetgreen

In related news, Director Clifford Burrows acquired 19,200 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were acquired at an average price of $13.11 per share, with a total value of $251,712.00. Following the acquisition, the director now owns 19,200 shares of the company's stock, valued at approximately $251,712. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 5,717 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $23.80, for a total value of $136,064.60. Following the completion of the transaction, the chief executive officer now owns 1,810,263 shares in the company, valued at $43,084,259.40. This represents a 0.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,014 shares of company stock valued at $736,283 over the last 90 days. Insiders own 21.52% of the company's stock.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently made changes to their positions in the business. Stifel Financial Corp grew its position in shares of Sweetgreen by 55.3% in the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company's stock worth $403,000 after buying an additional 4,474 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Sweetgreen by 54.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company's stock valued at $523,000 after purchasing an additional 5,783 shares during the period. LPL Financial LLC lifted its stake in shares of Sweetgreen by 400.1% in the 4th quarter. LPL Financial LLC now owns 59,592 shares of the company's stock valued at $1,911,000 after purchasing an additional 47,676 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Sweetgreen by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 849,512 shares of the company's stock valued at $27,235,000 after purchasing an additional 19,263 shares during the period. Finally, Csenge Advisory Group purchased a new position in shares of Sweetgreen in the 4th quarter valued at approximately $426,000. 95.75% of the stock is currently owned by institutional investors.

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.