Sweetgreen (NYSE:SG) Raised to “Strong Sell” at BNP Paribas Exane

Sweetgreen (NYSE:SG) was upgraded by investment analysts at BNP Paribas Exane to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on SG. Wells Fargo & Company cut Sweetgreen from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $10.00 to $7.00 in a research note on Wednesday, December 17th. Barclays raised their price objective on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. The Goldman Sachs Group lifted their target price on shares of Sweetgreen from $5.00 to $5.60 and gave the company a “sell” rating in a research note on Wednesday, January 28th. UBS Group decreased their target price on shares of Sweetgreen from $7.50 to $6.50 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Finally, Wolfe Research started coverage on shares of Sweetgreen in a report on Monday, March 9th. They set a “peer perform” rating on the stock. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $7.84.

Sweetgreen Trading Up 7.9%

Shares of NYSE:SG opened at $5.17 on Monday. The firm has a market cap of $611.74 million, a price-to-earnings ratio of -4.53 and a beta of 1.93. Sweetgreen has a 1 year low of $4.49 and a 1 year high of $25.88. The business has a fifty day simple moving average of $5.71 and a 200 day simple moving average of $6.66.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The firm had revenue of $155.19 million during the quarter, compared to analysts’ expectations of $159.59 million. During the same quarter last year, the firm earned ($0.25) EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that Sweetgreen will post -0.74 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In related news, insider Nicolas Jammet bought 4,428 shares of Sweetgreen stock in a transaction that occurred on Thursday, March 5th. The stock was purchased at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the acquisition, the insider owned 22,543 shares in the company, valued at $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 19.78% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

A number of institutional investors have recently modified their holdings of SG. Royal Bank of Canada lifted its stake in shares of Sweetgreen by 22.4% in the first quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock worth $7,292,000 after buying an additional 53,427 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Sweetgreen by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock valued at $1,516,000 after buying an additional 3,553 shares during the last quarter. Legal & General Group Plc raised its holdings in Sweetgreen by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 123,371 shares of the company’s stock worth $1,836,000 after acquiring an additional 6,052 shares during the period. Rhumbline Advisers raised its holdings in Sweetgreen by 9.3% in the 2nd quarter. Rhumbline Advisers now owns 158,251 shares of the company’s stock worth $2,355,000 after acquiring an additional 13,529 shares during the period. Finally, Prudential Financial Inc. acquired a new position in Sweetgreen during the 2nd quarter worth $197,000. Institutional investors own 95.75% of the company’s stock.

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.