Sweetgreen, Inc. (NYSE:SG) Receives $11.43 Average Target Price from Analysts

Sweetgreen, Inc. (NYSE:SG) has been given an average recommendation of “Hold” by the sixteen brokerages that are covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $10.7857.

Several brokerages have weighed in on SG. Sanford C. Bernstein set a $7.00 price target on Sweetgreen in a report on Wednesday, January 7th. William Blair reissued a “market perform” rating on shares of Sweetgreen in a research report on Friday, November 7th. Wells Fargo & Company cut shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $10.00 to $7.00 in a report on Wednesday, December 17th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $8.00 price target on shares of Sweetgreen in a research note on Tuesday, December 9th. Finally, The Goldman Sachs Group cut shares of Sweetgreen from a “buy” rating to a “sell” rating and set a $5.00 price target for the company. in a report on Friday, November 7th.

Insiders Place Their Bets

In other Sweetgreen news, insider Nicolas Jammet bought 18,115 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average price of $5.51 per share, with a total value of $99,813.65. Following the transaction, the insider owned 18,115 shares of the company’s stock, valued at approximately $99,813.65. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Neman purchased 179,800 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired 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 of the company’s stock, valued at $999,688. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 19.78% of the stock is owned by company insiders.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Centurion Wealth Management LLC purchased a new stake in shares of Sweetgreen during the 4th quarter worth approximately $75,000. Eastern Bank raised its stake in Sweetgreen by 228.5% during the 4th quarter. Eastern Bank now owns 8,780 shares of the company’s stock worth $59,000 after acquiring an additional 6,107 shares in the last quarter. SG Americas Securities LLC lifted its position in Sweetgreen by 42.5% in the fourth quarter. SG Americas Securities LLC now owns 152,766 shares of the company’s stock valued at $1,033,000 after acquiring an additional 45,569 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in Sweetgreen in the third quarter valued at $166,000. Finally, CIBC Bancorp USA Inc. acquired a new position in Sweetgreen in the third quarter valued at $88,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Up 1.6%

Sweetgreen stock opened at $7.04 on Friday. Sweetgreen has a 52-week low of $5.14 and a 52-week high of $35.16. The firm has a market cap of $833.32 million, a PE ratio of -7.26 and a beta of 1.93. The company’s 50 day moving average is $6.93 and its two-hundred day moving average is $8.57.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data 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). The company had revenue of $172.39 million for the quarter, compared to analysts’ expectations of $179.29 million. Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.18) EPS. On average, equities research analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

About Sweetgreen

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.