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

Shares of Sweetgreen, Inc. (NYSE:SG) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $38.20.

A number of research firms have commented on SG. Citigroup boosted their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. TD Cowen reissued a “buy” rating and set a $43.00 price objective on shares of Sweetgreen in a report on Friday, September 27th. Bank of America boosted their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. UBS Group increased their price target on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Piper Sandler reissued a “neutral” rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a report on Monday, August 19th.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of Sweetgreen stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the sale, the chief technology officer now owns 144,649 shares of the company’s stock, valued at $5,252,205.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CTO Wouleta Ayele sold 2,831 shares of Sweetgreen stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $102,793.61. Following the sale, the chief technology officer now directly owns 144,649 shares in the company, valued at $5,252,205.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the transaction, the insider now owns 114,842 shares of the company’s stock, valued at $4,169,913.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 426,061 shares of company stock valued at $15,071,720 over the last quarter. Corporate insiders own 21.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Evolutionary Tree Capital Management LLC grew its holdings in Sweetgreen by 0.7% during the second quarter. Evolutionary Tree Capital Management LLC now owns 65,756 shares of the company’s stock worth $1,982,000 after purchasing an additional 474 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Sweetgreen by 2.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock worth $468,000 after buying an additional 830 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Sweetgreen by 11.7% during the 1st quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock worth $322,000 after buying an additional 1,337 shares during the period. Swiss National Bank grew its stake in Sweetgreen by 0.9% in the 1st quarter. Swiss National Bank now owns 176,600 shares of the company’s stock valued at $4,461,000 after buying an additional 1,500 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Sweetgreen by 9.9% in the 1st quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after acquiring an additional 1,585 shares during the period. 95.75% of the stock is owned by institutional investors and hedge funds.

Sweetgreen Stock Performance

SG opened at $34.30 on Monday. Sweetgreen has a twelve month low of $8.64 and a twelve month high of $38.53. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -36.88 and a beta of 2.33. The firm’s 50-day simple moving average is $32.47 and its 200-day simple moving average is $28.90.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) EPS. As a group, sell-side analysts anticipate that Sweetgreen will post -0.75 EPS for the current fiscal year.

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.