UBS Group Lowers Sweetgreen (NYSE:SG) Price Target to $6.50

Sweetgreen (NYSE:SG) had its price objective cut by analysts at UBS Group from $7.00 to $6.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective would indicate a potential upside of 20.59% from the stock’s current price.

SG has been the topic of several other research reports. Weiss Ratings raised shares of Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Oppenheimer lowered their target price on Sweetgreen from $10.00 to $8.50 and set an “outperform” rating for the company in a research report on Friday. Royal Bank Of Canada lowered their target price on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. raised Sweetgreen from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $13.00 in a report on Friday, May 22nd. Finally, TD Cowen reduced their price target on Sweetgreen from $8.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $7.19.

Sweetgreen Trading Down 8.2%

NYSE:SG traded down $0.48 during mid-day trading on Friday, hitting $5.39. 17,399,888 shares of the company’s stock were exchanged, compared to its average volume of 5,087,054. Sweetgreen has a fifty-two week low of $4.49 and a fifty-two week high of $10.63. The firm has a market capitalization of $640.49 million, a P/E ratio of 44.92 and a beta of 2.19. The company has a 50 day simple moving average of $7.75 and a 200-day simple moving average of $6.86.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The business had revenue of $192.66 million during the quarter, compared to analyst estimates of $194.50 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) earnings per share. As a group, analysts expect that Sweetgreen will post -0.52 earnings per share for the current year.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently bought and sold shares of SG. Marshall Wace LLP boosted its stake in Sweetgreen by 1,428.8% during the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after acquiring an additional 3,667,306 shares in the last quarter. Woodson Capital Management LP increased its stake in Sweetgreen by 152.6% in the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after purchasing an additional 3,625,000 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Sweetgreen by 366.8% during the fourth quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock valued at $17,900,000 after purchasing an additional 2,080,628 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Sweetgreen by 240.9% during the third quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company’s stock valued at $13,509,000 after purchasing an additional 1,196,222 shares during the period. Finally, Ibex Investors LLC boosted its position in shares of Sweetgreen by 5,058.7% during the 4th quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock worth $5,580,000 after purchasing an additional 809,400 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Trending Headlines about Sweetgreen

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Second-quarter revenue increased 3.8% year over year to $192.66 million, indicating continued sales growth despite the challenging environment. Oppenheimer maintained an “outperform” rating, although it reduced its price target from $10 to $8.50. Oppenheimer lowers Sweetgreen price target
• Neutral Sentiment: Sweetgreen said it has not been implicated in the ongoing cyclospora outbreak, but consumer concerns about fresh produce are affecting traffic. The company removed jalapeños from its offerings amid the broader food-safety concerns. Sweetgreen cuts full-year outlook as cyclospora fears weigh on sales
• Negative Sentiment: Sweetgreen reported a second-quarter loss of $0.22 per share, wider than the $0.13 loss analysts expected and worse than the $0.20 loss a year earlier. Revenue also fell slightly short of estimates. Sweetgreen reports second-quarter loss and misses revenue estimates
• Negative Sentiment: Same-store sales declined 6.2% in the quarter, marking the chain’s sixth consecutive comparable-sales decline. Management now expects full-year same-store sales to fall 7%–8%, reflecting weaker customer demand linked to cyclospora fears. Sweetgreen shares slide as cyclosporiasis fears prompt forecast cut
• Negative Sentiment: Analysts lowered their valuations following the earnings release: Wells Fargo cut its target from $7 to $6, while TD Cowen reduced its target from $8 to $5 and assigned a “hold” rating. Analysts lower Sweetgreen price targets

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.