Analysts Set Sweetgreen, Inc. (NYSE:SG) PT at $7.84

Shares of Sweetgreen, Inc. (NYSE:SG) have been given a consensus rating of “Hold” by the nineteen research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $7.84.

Several research firms recently commented on SG. BNP Paribas Exane raised shares of Sweetgreen to a “strong sell” rating in a report on Monday, March 30th. Barclays increased their target price on Sweetgreen from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Piper Sandler reduced their price target on Sweetgreen from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. JPMorgan Chase & Co. boosted their price objective on Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Finally, Citizens Jmp began coverage on Sweetgreen in a report on Monday, March 30th. They set a “mkt underperform” rating and a $4.50 price objective on the stock.

Insider Activity

In other news, insider Nicolas Jammet acquired 4,428 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was bought at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the transaction, the insider owned 22,543 shares of the company’s stock, valued at $128,720.53. The trade was a 24.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 19.78% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Larson Financial Group LLC grew its position in shares of Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares in the last quarter. Bogart Wealth LLC raised its position in shares of Sweetgreen by 1,150.0% in the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after buying an additional 4,600 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Sweetgreen by 312.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after buying an additional 2,127 shares during the period. CWM LLC grew its position in Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after buying an additional 4,984 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in Sweetgreen by 281.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after buying an additional 5,839 shares in the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Price Performance

Shares of NYSE SG opened at $5.38 on Friday. The stock has a market capitalization of $637.30 million, a PE ratio of -4.72 and a beta of 1.90. Sweetgreen has a one year low of $4.49 and a one year high of $24.47. The business’s fifty day moving average price is $5.61 and its 200-day moving average price is $6.59.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The firm had revenue of $155.19 million during the quarter, compared to the consensus estimate of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The company’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.25) earnings per share. As a group, equities analysts expect that Sweetgreen will post -0.74 EPS 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.