Sweetgreen (NYSE:SG) Given New $15.00 Price Target at Citigroup

Sweetgreen (NYSE:SG) had its price target upped by analysts at Citigroup from $13.00 to $15.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s price objective points to a potential upside of 25.80% from the company’s previous close.

Several other brokerages also recently issued reports on SG. KeyCorp upped their target price on shares of Sweetgreen from $12.00 to $13.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings lowered shares of Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Morgan Stanley boosted their price objective on shares of Sweetgreen from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Thursday, October 15th. Wall Street Zen raised Sweetgreen from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 16th. Finally, TD Cowen lifted their target price on Sweetgreen from $9.00 to $11.00 and gave the stock a “hold” rating in a report on Friday. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.88.

Sweetgreen Price Performance

Sweetgreen stock traded up $0.37 during mid-day trading on Friday, reaching $11.92. The stock had a trading volume of 12,911,541 shares, compared to its average volume of 5,103,323. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 119.25 and a beta of 2.11. The company has a 50-day moving average price of $8.83 and a two-hundred day moving average price of $7.28. Sweetgreen has a one year low of $4.49 and a one year high of $12.49.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Friday, November 6th. The company reported ($0.26) EPS for the quarter, meeting the consensus estimate of ($0.26). The company had revenue of $176.02 million for the quarter, compared to the consensus estimate of $170.07 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. Sweetgreen’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.31) EPS. On average, equities research analysts anticipate that Sweetgreen will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other news, COO Jason Miles Cochran sold 4,809 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $29,863.89. Following the transaction, the chief operating officer directly owned 207,076 shares in the company, valued at $1,285,941.96. This trade represents a 2.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $93,354.93. Following the completion of the transaction, the chief financial officer owned 210,489 shares in the company, valued at approximately $1,307,136.69. This trade represents a 6.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fulcrum Asset Management LLP grew its stake in shares of Sweetgreen by 5,967.2% during the 3rd quarter. Fulcrum Asset Management LLP now owns 13,894 shares of the company’s stock valued at $121,000 after purchasing an additional 13,665 shares during the period. Sterling Capital Management LLC increased its position in shares of Sweetgreen by 175.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,936 shares of the company’s stock valued at $26,000 after purchasing an additional 1,869 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Sweetgreen in the 3rd quarter worth approximately $68,000. Curated Wealth Partners LLC purchased a new position in shares of Sweetgreen in the third quarter worth approximately $480,000. Finally, Eastern Bank boosted its holdings in shares of Sweetgreen by 7.3% in the third quarter. Eastern Bank now owns 27,054 shares of the company’s stock worth $240,000 after buying an additional 1,830 shares during the last quarter. 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: Sweetgreen reported Q3 revenue of $176.0 million, up 2.1% year over year and above the roughly $170 million consensus estimate. Its $0.26-per-share loss was in line with consensus and narrower than the year-earlier loss. Same-store sales fell 6.4%, an improvement from a 9.5% decline a year ago. Sweetgreen Q3 results
• Positive Sentiment: Several firms raised their targets: Oppenheimer and Wells Fargo moved to $14, while KeyCorp raised its target to $13; all maintained bullish ratings. The revisions may bolster confidence following the earnings release. Oppenheimer rating Wells Fargo rating KeyCorp rating
• Neutral Sentiment: TD Cowen raised its target from $9 to $11 but kept a Hold rating; its new target remains below the stock’s recent trading level. TD Cowen rating
• Negative Sentiment: Despite improvement, same-store sales remained negative and overall revenue growth was modest. Reports tie the sales pressure to the Cyclospora outbreak, leaving investors focused on whether the recovery can continue. Same-store sales and outbreak recovery

About Sweetgreen

Sweetgreen, Inc operates a fast-casual restaurant company focused on fresh, customizable meals. Its menu includes salads, grain bowls, protein plates, sides, and beverages made with seasonal produce and other ingredients. Customers can order in restaurants or through Sweetgreen’s website and mobile application, with options for pickup and delivery.

Founded in 2007 by Nicolas Jammet, Jonathan Neman, and Nathaniel Ru, Sweetgreen began as a single restaurant in Washington, DC The company has expanded its restaurant network across metropolitan areas in the United States, with locations concentrated in major markets on the East and West coasts and in other regions.