Sweetgreen (NYSE:SG) Given New $8.50 Price Target at Oppenheimer

Sweetgreen (NYSE:SG) had its price target decreased by equities research analysts at Oppenheimer from $10.00 to $8.50 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 60.59% from the stock’s previous close.

A number of other brokerages have also recently commented on SG. UBS Group reissued a “buy” rating on shares of Sweetgreen in a research report on Friday. JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $8.00 to $13.00 in a research note on Friday, May 22nd. Citigroup boosted their target price on Sweetgreen from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, July 20th. TD Cowen cut their target price on Sweetgreen from $8.00 to $5.00 and set a “hold” rating on the stock in a research note on Friday. Finally, Wall Street Zen upgraded Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $7.35.

Sweetgreen Price Performance

NYSE:SG traded down $0.58 during mid-day trading on Friday, hitting $5.29. 7,628,959 shares of the company’s stock were exchanged, compared to its average volume of 5,013,029. Sweetgreen has a one year low of $4.49 and a one year high of $10.63. The business has a fifty day moving average price of $7.75 and a 200 day moving average price of $6.86. The company has a market cap of $628.97 million, a PE ratio of 44.63 and a beta of 2.19.

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

Institutional Investors Weigh In On Sweetgreen

Several institutional investors have recently modified their holdings of SG. Ibex Investors LLC increased its position in Sweetgreen by 5,058.7% during the fourth quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock valued at $5,580,000 after acquiring an additional 809,400 shares during the last quarter. Capelight Capital Asset Management LP bought a new position in Sweetgreen in the fourth quarter valued at about $676,000. Granahan Investment Management LLC purchased a new position in Sweetgreen in the first quarter worth about $1,472,000. MYDA Advisors LLC purchased a new position in Sweetgreen in the fourth quarter worth about $676,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Sweetgreen by 35.6% during the 4th quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock valued at $15,520,000 after purchasing an additional 603,029 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen News Summary

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Wells Fargo lowered its price target from $7 to $6 but maintained an “equal weight” rating, implying moderate potential upside from recent trading levels. Benzinga analyst action
• Neutral Sentiment: Sweetgreen’s quarterly revenue increased 3.8% year over year to $192.66 million, although growth was slightly below analysts’ expectations. The company’s market capitalization is approximately $620 million, and its shares remain near the lower end of their 52-week range.
• Negative Sentiment: TD Cowen cut its price target from $8 to $5 and downgraded its outlook to “hold,” signaling limited expected upside and reflecting concerns about near-term operating performance. Benzinga analyst action
• 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 reported a year earlier. Revenue also narrowly missed estimates. Sweetgreen second-quarter earnings
• Negative Sentiment: The company reduced its full-year same-store-sales outlook to a 7% to 8% decline as consumers became more cautious about eating fresh produce amid cyclosporiasis fears. The guidance cut indicates that the outbreak is affecting demand even without a direct link to Sweetgreen. Wall Street Journal outlook report CNBC outlook report
• Negative Sentiment: The outbreak-related demand concerns and forecast reduction have prompted a broad reassessment of Sweetgreen’s earnings prospects, weighing on the stock despite the company’s modest revenue growth. Reuters cyclosporiasis and forecast report

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.