Analysts Set Sweetgreen, Inc. (NYSE:SG) Price Target at $33.60

Shares of Sweetgreen, Inc. (NYSE:SG) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $34.00.

SG has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. UBS Group increased their price objective on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their target price on shares of Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, June 14th. TD Cowen upped their price target on Sweetgreen from $26.00 to $31.00 and gave the stock a “hold” rating in a research note on Thursday, June 13th. Finally, William Blair reaffirmed an “outperform” rating on shares of Sweetgreen in a research note on Wednesday, May 15th.

Insider Buying and Selling

In other news, CFO Mitch Reback sold 8,837 shares of Sweetgreen stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $31.98, for a total value of $282,607.26. Following the completion of the transaction, the chief financial officer now owns 388,337 shares in the company, valued at approximately $12,419,017.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Sweetgreen news, CFO Mitch Reback sold 8,837 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $31.98, for a total value of $282,607.26. Following the sale, the chief financial officer now directly owns 388,337 shares of the company’s stock, valued at approximately $12,419,017.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Neman sold 150,000 shares of Sweetgreen stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at $64,050,000. The disclosure for this sale can be found here. Insiders sold 165,645 shares of company stock valued at $5,068,315 in the last three months. 21.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new position in Sweetgreen in the fourth quarter valued at approximately $323,000. Handelsbanken Fonder AB acquired a new position in shares of Sweetgreen in the 4th quarter valued at $137,000. Mach 1 Financial Group LLC purchased a new position in shares of Sweetgreen in the 4th quarter valued at $520,000. Triumph Capital Management purchased a new position in shares of Sweetgreen in the 4th quarter valued at $126,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Sweetgreen by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 731,369 shares of the company’s stock worth $8,264,000 after acquiring an additional 15,463 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

NYSE:SG opened at $37.37 on Friday. The company’s 50-day moving average is $28.60 and its two-hundred day moving average is $24.29. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of -40.18 and a beta of 2.30. Sweetgreen has a 1-year low of $8.64 and a 1-year high of $37.88.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. As a group, equities analysts anticipate that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

About Sweetgreen

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.