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UBS Group Issues Pessimistic Forecast for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen logo with Retail/Wholesale background

Key Points

  • UBS Group has decreased its target price for Sweetgreen (NYSE:SG) from $19.00 to $13.00, maintaining a "buy" rating that implies a potential upside of 36.05% from the current stock price.
  • Other analysts have also made downward revisions, with Bank of America lowering its target from $27.00 to $22.00, and TD Cowen cutting theirs from $15.00 to $10.00, reflecting a generally cautious outlook on the stock.
  • Sweetgreen's shares fell to $9.56 during recent trading, reaching a 12-month low of $8.80, following disappointment in quarterly earnings that missed analyst estimates.
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Sweetgreen (NYSE:SG - Free Report) had its target price trimmed by UBS Group from $19.00 to $13.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the company. Barclays reduced their price objective on Sweetgreen from $17.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Friday. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $19.00 price objective on shares of Sweetgreen in a research note on Tuesday, July 1st. Bank of America reduced their price objective on Sweetgreen from $27.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. JPMorgan Chase & Co. reduced their price objective on Sweetgreen from $20.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 25th. Finally, TD Securities reaffirmed a "hold" rating and issued a $15.00 price objective (down from $25.00) on shares of Sweetgreen in a research note on Tuesday, July 1st. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $17.69.

View Our Latest Research Report on SG

Sweetgreen Stock Down 2.5%

Shares of NYSE SG traded down $0.25 during trading hours on Friday, hitting $9.50. The company had a trading volume of 4,060,830 shares, compared to its average volume of 4,773,915. The stock has a market capitalization of $1.11 billion, a P/E ratio of -11.34 and a beta of 2.04. Sweetgreen has a 1-year low of $8.80 and a 1-year high of $45.12. The firm's 50 day moving average is $13.45 and its 200-day moving average is $19.12.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.08). Sweetgreen had a negative net margin of 14.29% and a negative return on equity of 21.91%. The business had revenue of $185.58 million during the quarter, compared to the consensus estimate of $193.47 million. During the same quarter last year, the company posted ($0.13) EPS. The firm's revenue was up .5% on a year-over-year basis. On average, sell-side analysts predict that Sweetgreen will post -0.74 earnings per share for the current year.

Insider Activity at Sweetgreen

In other news, CFO Mitch Reback sold 10,088 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $15.23, for a total transaction of $153,640.24. Following the transaction, the chief financial officer owned 334,421 shares of the company's stock, valued at $5,093,231.83. This represents a 2.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Clifford Burrows acquired 19,200 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the acquisition, the director directly owned 19,200 shares in the company, valued at $251,712. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 21.52% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC boosted its position in shares of Sweetgreen by 115.3% during the second quarter. SG Americas Securities LLC now owns 17,463 shares of the company's stock valued at $260,000 after purchasing an additional 9,352 shares in the last quarter. Prospect Financial Services LLC bought a new stake in shares of Sweetgreen during the second quarter valued at approximately $175,000. Police & Firemen s Retirement System of New Jersey boosted its position in shares of Sweetgreen by 5.5% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company's stock valued at $345,000 after purchasing an additional 1,209 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sweetgreen by 2.3% during the second quarter. Geode Capital Management LLC now owns 2,420,856 shares of the company's stock valued at $36,027,000 after purchasing an additional 54,538 shares in the last quarter. Finally, EFG Asset Management North America Corp. boosted its position in shares of Sweetgreen by 18.5% during the second quarter. EFG Asset Management North America Corp. now owns 139,061 shares of the company's stock valued at $2,071,000 after purchasing an additional 21,734 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.

About Sweetgreen

(Get Free Report)

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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