Sweetgreen (NYSE:SG) Research Coverage Started at Citizens Jmp

Citizens Jmp started coverage on shares of Sweetgreen (NYSE:SG) in a report published on Monday morning, MarketBeat.com reports. The brokerage issued a mkt underperform rating and a $4.50 price target on the stock.

Other analysts have also issued research reports about the company. Piper Sandler dropped their target price on Sweetgreen from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. UBS Group decreased their price target on Sweetgreen from $7.50 to $6.50 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Barclays boosted their price target on Sweetgreen from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Wolfe Research began coverage on Sweetgreen in a report on Monday, March 9th. They issued a “peer perform” rating for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 20th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sweetgreen presently has an average rating of “Hold” and an average target price of $7.84.

Sweetgreen Trading Up 4.6%

Sweetgreen stock opened at $5.43 on Monday. The company has a market cap of $642.63 million, a P/E ratio of -4.76 and a beta of 1.89. Sweetgreen has a 1-year low of $4.49 and a 1-year high of $25.88. The company has a fifty day simple moving average of $5.68 and a 200 day simple moving average of $6.65.

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

Insiders Place Their Bets

In related news, insider Nicolas Jammet purchased 4,428 shares of the stock in a transaction on Thursday, March 5th. The shares were purchased at an average cost of $5.71 per share, with a total value of $25,283.88. Following the acquisition, the insider directly owned 22,543 shares in the company, valued at $128,720.53. The trade was 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 this link. 19.78% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Sweetgreen by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock valued at $76,558,000 after purchasing an additional 129,572 shares during the period. Woodson Capital Management LP lifted its holdings in shares of Sweetgreen by 152.6% during the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock worth $40,560,000 after buying an additional 3,625,000 shares in the last quarter. Spyglass Capital Management LLC boosted its position in shares of Sweetgreen by 4.0% in the third quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock valued at $32,371,000 after acquiring an additional 156,757 shares during the period. Greenhouse Funds LLLP grew its stake in shares of Sweetgreen by 82.8% in the third quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after acquiring an additional 1,788,175 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after acquiring an additional 3,667,306 shares in the last quarter. 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.