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

Shares of Sweetgreen, Inc. (NYSE:SG) have earned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.6786.

A number of analysts have recently weighed in on SG shares. Zacks Research upgraded Sweetgreen from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. Royal Bank Of Canada restated an “outperform” rating and issued a $8.00 price objective on shares of Sweetgreen in a research report on Tuesday, December 9th. Morgan Stanley set a $10.00 target price on shares of Sweetgreen in a research note on Tuesday, October 21st. Piper Sandler decreased their price target on shares of Sweetgreen from $12.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, November 7th. Finally, William Blair restated a “market perform” rating on shares of Sweetgreen in a research report on Friday, November 7th.

Insider Buying and Selling at Sweetgreen

In other news, insider Nicolas Jammet acquired 18,115 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was purchased at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the transaction, the insider directly owned 18,115 shares in the company, valued at $99,813.65. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jonathan Neman acquired 179,800 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average cost of $5.56 per share, with a total value of $999,688.00. Following the completion of the acquisition, the chief executive officer directly owned 179,800 shares in the company, valued at approximately $999,688. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. 19.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors have recently modified their holdings of SG. WoodTrust Financial Corp bought a new stake in Sweetgreen in the second quarter valued at approximately $1,075,000. Greenhouse Funds LLLP bought a new position in shares of Sweetgreen during the second quarter worth $32,122,000. Spyglass Capital Management LLC grew its holdings in shares of Sweetgreen by 15.2% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock valued at $58,029,000 after buying an additional 513,643 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Sweetgreen in the 2nd quarter valued at $962,000. Finally, Clear Harbor Asset Management LLC raised its stake in Sweetgreen by 518.0% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 61,800 shares of the company’s stock worth $920,000 after buying an additional 51,800 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Down 0.1%

NYSE:SG opened at $7.01 on Wednesday. The stock has a market capitalization of $830.13 million, a P/E ratio of -7.23 and a beta of 1.93. Sweetgreen has a 1 year low of $5.14 and a 1 year high of $35.95. The firm has a 50 day moving average of $6.65 and a 200-day moving average of $9.31.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The business had revenue of $172.39 million for the quarter, compared to analyst estimates of $179.29 million. During the same period in the prior year, the business earned ($0.18) earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, analysts forecast that Sweetgreen will post -0.74 EPS for the current fiscal year.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.