Sweetgreen, Inc. (NYSE:SG) to Post Q2 2024 Earnings of ($0.10) Per Share, William Blair Forecasts

Sweetgreen, Inc. (NYSE:SG) – Equities research analysts at William Blair cut their Q2 2024 earnings per share estimates for shares of Sweetgreen in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst S. Zackfia now anticipates that the company will post earnings of ($0.10) per share for the quarter, down from their previous forecast of ($0.09). The consensus estimate for Sweetgreen’s current full-year earnings is ($0.71) per share.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). The company had revenue of $153.00 million for the quarter, compared to analyst estimates of $152.04 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. Sweetgreen’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.44) earnings per share.

Several other brokerages have also weighed in on SG. Morgan Stanley upped their target price on shares of Sweetgreen from $11.00 to $16.00 and gave the stock an “underweight” rating in a research report on Friday, April 12th. Royal Bank of Canada upped their target price on shares of Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Citigroup upped their price objective on shares of Sweetgreen from $16.00 to $25.00 and gave the company a “neutral” rating in a research note on Tuesday. TD Cowen restated a “hold” rating and set a $17.00 price objective on shares of Sweetgreen in a report on Wednesday, April 10th. Finally, Oppenheimer raised their price target on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.00.

Sweetgreen Stock Performance

SG stock opened at $22.48 on Monday. The stock has a market capitalization of $2.54 billion, a PE ratio of -22.48 and a beta of 2.19. Sweetgreen has a one year low of $7.53 and a one year high of $26.45. The company has a fifty day moving average of $20.87 and a 200-day moving average of $14.24.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SG. Bourgeon Capital Management LLC bought a new position in Sweetgreen during the third quarter valued at about $29,000. Compagnie Lombard Odier SCmA grew its holdings in shares of Sweetgreen by 300.0% in the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,000 shares of the company’s stock worth $94,000 after purchasing an additional 6,000 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Sweetgreen during the fourth quarter worth approximately $104,000. Clear Harbor Asset Management LLC acquired a new position in Sweetgreen in the fourth quarter worth $113,000. Finally, Triumph Capital Management bought a new stake in Sweetgreen during the 4th quarter worth about $126,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Insider Buying and Selling

In other news, insider Adrienne Gemperle sold 4,286 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $12.32, for a total value of $52,803.52. Following the transaction, the insider now directly owns 139,693 shares in the company, valued at approximately $1,721,017.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Sweetgreen news, insider Adrienne Gemperle sold 4,286 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $12.32, for a total value of $52,803.52. Following the sale, the insider now owns 139,693 shares in the company, valued at $1,721,017.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mitch Reback sold 10,288 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $12.00, for a total transaction of $123,456.00. Following the completion of the sale, the chief financial officer now directly owns 432,393 shares of the company’s stock, valued at $5,188,716. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,555 shares of company stock worth $2,214,389. Insiders own 21.52% 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.