Citigroup Boosts Sweetgreen (NYSE:SG) Price Target to $25.00

Sweetgreen (NYSE:SG) had its price target raised by stock analysts at Citigroup from $16.00 to $25.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 6.97% from the company’s previous close.

Several other research firms also recently weighed in on SG. Oppenheimer lifted their target price on shares of Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. JPMorgan Chase & Co. increased their target price on Sweetgreen from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Royal Bank of Canada boosted their price target on shares of Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Morgan Stanley lifted their price target on Sweetgreen from $11.00 to $16.00 and gave the stock an “underweight” rating in a research note on Friday, April 12th. Finally, Piper Sandler boosted their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Sweetgreen Price Performance

Shares of NYSE:SG traded down $1.16 during mid-day trading on Tuesday, hitting $23.37. The company had a trading volume of 511,719 shares, compared to its average volume of 2,175,685. Sweetgreen has a one year low of $7.53 and a one year high of $26.45. The company has a market capitalization of $2.64 billion, a PE ratio of -23.70 and a beta of 2.19. The firm has a fifty day moving average price of $20.65 and a 200 day moving average price of $14.16.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The business had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $152.04 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. Sweetgreen’s quarterly revenue was up 29.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.44) EPS. Research analysts expect that Sweetgreen will post -0.71 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Mitch Reback sold 10,288 shares of Sweetgreen stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the sale, the chief financial officer now directly owns 432,393 shares in the company, valued at approximately $5,188,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Sweetgreen news, insider Adrienne Gemperle sold 4,000 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.00, for a total transaction of $64,000.00. Following the completion of the sale, the insider now directly owns 129,407 shares in the company, valued at approximately $2,070,512. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Mitch Reback sold 10,288 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the completion of the transaction, the chief financial officer now directly owns 432,393 shares in the company, valued at $5,188,716. The disclosure for this sale can be found here. Insiders have sold a total of 140,555 shares of company stock worth $2,214,389 over the last 90 days. 21.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sweetgreen

Several large investors have recently added to or reduced their stakes in SG. FMR LLC raised its position in shares of Sweetgreen by 0.6% during the third quarter. FMR LLC now owns 14,810,112 shares of the company’s stock valued at $174,019,000 after buying an additional 84,375 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Sweetgreen by 31.9% in the 3rd quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after acquiring an additional 2,907,749 shares during the last quarter. Vanguard Group Inc. lifted its stake in Sweetgreen by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock worth $94,361,000 after purchasing an additional 224,522 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sweetgreen by 38.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after purchasing an additional 476,998 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Sweetgreen by 1,435.2% during the third quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock valued at $19,679,000 after purchasing an additional 1,565,700 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Company Profile

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.