Sweetgreen (NYSE:SG) Price Target Cut to $5.00 by Analysts at TD Cowen

Sweetgreen (NYSE:SG) had its target price reduced by TD Cowen from $8.00 to $5.00 in a report issued on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other equities analysts have also recently issued reports on SG. DA Davidson increased their target price on Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Citigroup upped their price target on Sweetgreen from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Weiss Ratings raised Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, BNP Paribas Exane upped their target price on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.19.

Sweetgreen Stock Performance

Shares of SG stock opened at $5.39 on Friday. The firm has a fifty day moving average of $7.66 and a 200-day moving average of $6.85. The stock has a market cap of $640.49 million, a price-to-earnings ratio of 53.91 and a beta of 2.19. Sweetgreen has a 52-week low of $4.49 and a 52-week high of $10.63.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.09). Sweetgreen had a net margin of 2.01% and a negative return on equity of 34.03%. The business had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. During the same quarter last year, the firm posted ($0.20) earnings per share. Sweetgreen’s revenue was up 3.8% on a year-over-year basis. On average, sell-side analysts predict that Sweetgreen will post -0.52 earnings per share for the current year.

Institutional Trading of Sweetgreen

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC lifted its position in Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after buying an additional 2,349 shares in the last quarter. Fifth Third Bancorp acquired a new stake in Sweetgreen in the 1st quarter valued at about $38,000. CWM LLC raised its stake in shares of Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after acquiring an additional 4,984 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after acquiring an additional 5,839 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC acquired a new position in shares of Sweetgreen during the first quarter worth approximately $56,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen News Summary

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Second-quarter revenue increased 3.8% year over year to $192.66 million, indicating continued sales growth despite the challenging environment. Oppenheimer maintained an “outperform” rating, although it reduced its price target from $10 to $8.50. Oppenheimer lowers Sweetgreen price target
• Neutral Sentiment: Sweetgreen said it has not been implicated in the ongoing cyclospora outbreak, but consumer concerns about fresh produce are affecting traffic. The company removed jalapeños from its offerings amid the broader food-safety concerns. Sweetgreen cuts full-year outlook as cyclospora fears weigh on sales
• 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 a year earlier. Revenue also fell slightly short of estimates. Sweetgreen reports second-quarter loss and misses revenue estimates
• Negative Sentiment: Same-store sales declined 6.2% in the quarter, marking the chain’s sixth consecutive comparable-sales decline. Management now expects full-year same-store sales to fall 7%–8%, reflecting weaker customer demand linked to cyclospora fears. Sweetgreen shares slide as cyclosporiasis fears prompt forecast cut
• Negative Sentiment: Analysts lowered their valuations following the earnings release: Wells Fargo cut its target from $7 to $6, while TD Cowen reduced its target from $8 to $5 and assigned a “hold” rating. Analysts lower Sweetgreen price targets

About Sweetgreen

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.