Sweetgreen (NYSE:SG) Trading 7.6% Higher – Should You Buy?

Sweetgreen, Inc. (NYSE:SG) traded up 7.6% during trading on Friday . The company traded as high as $8.00 and last traded at $7.9290. 703,619 shares were traded during trading, a decline of 85% from the average session volume of 4,727,197 shares. The stock had previously closed at $7.37.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. DA Davidson lifted their price target on shares of Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. TD Cowen lifted their price target on shares of Sweetgreen from $7.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, May 27th. Wolfe Research started coverage on shares of Sweetgreen in a report on Monday, March 9th. They issued a “peer perform” rating for the company. Finally, Wall Street Zen upgraded shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Four analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Sweetgreen currently has an average rating of “Hold” and a consensus target price of $8.04.

Sweetgreen Price Performance

The business’s 50-day simple moving average is $7.07 and its two-hundred day simple moving average is $6.62. The stock has a market capitalization of $915.94 million, a price-to-earnings ratio of 65.03 and a beta of 2.16.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, May 7th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.04). Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The firm had revenue of $161.52 million for the quarter, compared to analyst estimates of $163.95 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. As a group, sell-side analysts expect that Sweetgreen, Inc. will post -0.76 EPS for the current year.

Insider Activity at Sweetgreen

In other news, major shareholder Goldman Sachs Group Inc bought 594,553 shares of Sweetgreen stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average cost of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the transaction, the insider owned 11,900,255 shares in the company, valued at approximately $67,712,450.95. This trade represents a 5.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 18.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after purchasing an additional 2,349 shares in the last quarter. Fifth Third Bancorp acquired a new position in shares of Sweetgreen during the first quarter worth $38,000. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Sweetgreen by 124.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock worth $50,000 after purchasing an additional 3,484 shares in the last quarter. CWM LLC lifted its position in shares of Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after purchasing an additional 4,984 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after acquiring an additional 5,839 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.