Sweetgreen, Inc. (NYSE:SG) Receives Average Rating of “Moderate Buy” from Brokerages

Sweetgreen, Inc. (NYSE:SG) has earned a consensus recommendation of “Moderate Buy” from the eight research firms that are covering the stock, MarketBeat Ratings reports. 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 company. The average 1-year price target among analysts that have covered the stock in the last year is $22.00.

Several equities research analysts recently commented on the stock. TD Cowen reiterated a “hold” rating and set a $17.00 target price on shares of Sweetgreen in a research report on Wednesday, April 10th. Piper Sandler upped their price target on Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. JPMorgan Chase & Co. raised their price objective on Sweetgreen from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Royal Bank of Canada lifted their price objective on Sweetgreen from $13.00 to $20.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, Citigroup increased their target price on shares of Sweetgreen from $16.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $23.25 on Friday. Sweetgreen has a one year low of $8.64 and a one year high of $26.45. The company has a market cap of $2.63 billion, a price-to-earnings ratio of -23.26 and a beta of 2.22. The firm has a 50 day simple moving average of $21.68 and a 200 day simple moving average of $14.53.

Sweetgreen (NYSE:SG) last posted its 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 during the quarter, compared to the consensus estimate of $152.04 million. Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. Sweetgreen’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.44) earnings per share. As a group, analysts expect that Sweetgreen will post -0.71 EPS for the current year.

Insider Transactions at Sweetgreen

In other news, insider Adrienne Gemperle sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.00, for a total transaction of $64,000.00. Following the completion of the sale, the insider now owns 129,407 shares of the company’s stock, valued at approximately $2,070,512. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Adrienne Gemperle sold 4,000 shares of Sweetgreen stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.00, for a total value of $64,000.00. Following the completion of the sale, the insider now owns 129,407 shares of the company’s stock, valued at approximately $2,070,512. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Mitch Reback sold 10,288 shares of Sweetgreen stock in a transaction on Friday, February 9th. The shares were sold at an average price of $12.00, for a total transaction of $123,456.00. Following the completion of the sale, the chief financial officer now directly owns 432,393 shares of the company’s stock, valued at approximately $5,188,716. The disclosure for this sale can be found here. Insiders sold a total of 140,555 shares of company stock valued at $2,214,389 in the last quarter. 21.52% of the stock is currently owned by company insiders.

Institutional Trading of Sweetgreen

Several hedge funds have recently bought and sold shares of SG. Bourgeon Capital Management LLC bought a new position in Sweetgreen during the 3rd quarter valued at $29,000. Quest Partners LLC bought a new stake in shares of Sweetgreen during the 4th quarter worth $104,000. Clear Harbor Asset Management LLC bought a new stake in shares of Sweetgreen during the 4th quarter worth $113,000. Triumph Capital Management bought a new stake in shares of Sweetgreen during the 4th quarter worth $126,000. Finally, Forum Financial Management LP raised its stake in shares of Sweetgreen by 12.6% during the 3rd quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after purchasing an additional 1,262 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

About Sweetgreen

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.