Sweetgreen (NYSE:SG) Price Target Lowered to $8.00 at Citigroup

Sweetgreen (NYSE:SG) had its target price cut by Citigroup from $10.00 to $8.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on the company. BNP Paribas Exane lifted their price objective on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. raised shares of Sweetgreen from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $13.00 in a report on Friday, May 22nd. DA Davidson raised their target price on Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Royal Bank Of Canada lowered their price target on shares of Sweetgreen from $7.00 to $6.50 and set an “outperform” rating on the stock in a research report on Friday. Finally, Wall Street Zen upgraded 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, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $7.19.

Sweetgreen Trading Down 8.2%

Shares of Sweetgreen stock opened at $5.39 on Friday. The firm’s 50 day simple moving average is $7.66 and its two-hundred day simple moving average is $6.85. Sweetgreen has a 12-month low of $4.49 and a 12-month high of $10.63. The firm has a market capitalization of $640.49 million, a price-to-earnings ratio of 53.91 and a beta of 2.19.

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

Institutional Trading of Sweetgreen

Several hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC raised its position in Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares in the last quarter. Fifth Third Bancorp acquired a new position in Sweetgreen in the first quarter valued at $38,000. CWM LLC boosted its position in shares of Sweetgreen by 212.2% in the 4th quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after purchasing an additional 4,984 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Sweetgreen by 281.7% during 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 purchased a new position in Sweetgreen during the 1st quarter worth $56,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen News Roundup

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.