Citigroup Increases Sweetgreen (NYSE:SG) Price Target to $25.00

Sweetgreen (NYSE:SG) had its price target upped by Citigroup from $16.00 to $25.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 6.97% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Oppenheimer lifted their price objective on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Piper Sandler increased their target price on Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a report on Friday, March 1st. JPMorgan Chase & Co. upped their target price on shares of Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. TD Cowen reiterated a “hold” rating and issued a $17.00 price objective on shares of Sweetgreen in a research note on Wednesday, April 10th. Finally, Morgan Stanley lifted their target price on Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Sweetgreen Price Performance

Shares of NYSE:SG traded down $1.16 during trading on Tuesday, hitting $23.37. The company had a trading volume of 511,719 shares, compared to its average volume of 2,175,685. Sweetgreen has a one year low of $7.53 and a one year high of $26.45. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of -23.70 and a beta of 2.19. The company has a fifty day simple moving average of $20.65 and a two-hundred day simple moving average of $14.16.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The firm had revenue of $153.00 million for the quarter, compared to analysts’ expectations of $152.04 million. Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. The business’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.44) EPS. On average, equities research analysts anticipate that Sweetgreen will post -0.71 earnings per share for the current year.

Insider Transactions at Sweetgreen

In other news, insider Adrienne Gemperle sold 12,442 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $11.33, for a total transaction of $140,967.86. Following the completion of the transaction, the insider now directly owns 127,251 shares in the company, valued at approximately $1,441,753.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Mitch Reback sold 10,288 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the transaction, the chief financial officer now owns 432,393 shares in the company, valued at approximately $5,188,716. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adrienne Gemperle sold 12,442 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $11.33, for a total value of $140,967.86. Following the completion of the transaction, the insider now directly owns 127,251 shares in the company, valued at $1,441,753.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 140,555 shares of company stock valued at $2,214,389. Corporate insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently modified their holdings of the company. Bourgeon Capital Management LLC bought a new stake in shares of Sweetgreen during the third quarter valued at approximately $29,000. Compagnie Lombard Odier SCmA lifted its stake in shares of Sweetgreen by 300.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,000 shares of the company’s stock valued at $94,000 after buying an additional 6,000 shares in the last quarter. Quest Partners LLC purchased a new position in Sweetgreen during the fourth quarter valued at $104,000. Clear Harbor Asset Management LLC bought a new stake in shares of Sweetgreen in the 4th quarter worth about $113,000. Finally, Triumph Capital Management purchased a new stake in shares of Sweetgreen in the fourth quarter valued at $126,000. 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.