Sweetgreen (NYSE:SG) Now Covered by Analysts at Wells Fargo & Company

Analysts at Wells Fargo & Company began coverage on shares of Sweetgreen (NYSE:SG) in a research report issued on Monday,Briefing.com Automated Import reports. The firm set an “overweight” rating and a $19.00 price target on the stock. Wells Fargo & Company‘s price objective suggests a potential upside of 50.47% from the stock’s current price.

Other analysts have also issued research reports about the company. Barclays initiated coverage on Sweetgreen in a research note on Friday, June 6th. They set an “equal weight” rating and a $16.00 price target on the stock. Morgan Stanley reduced their price target on shares of Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, May 9th. TD Securities restated a “buy” rating and issued a $25.00 price target on shares of Sweetgreen in a research note on Thursday, May 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Sweetgreen in a research report on Tuesday, February 25th. Finally, Oppenheimer decreased their target price on Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $28.31.

Sweetgreen Trading Down 4.6%

Shares of SG opened at $12.63 on Monday. Sweetgreen has a 12-month low of $12.37 and a 12-month high of $45.12. The firm has a market capitalization of $1.48 billion, a P/E ratio of -16.19 and a beta of 2.06. The firm has a 50-day moving average price of $16.61 and a 200 day moving average price of $25.01.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.21). The business had revenue of $166.30 million during the quarter, compared to analysts’ expectations of $164.68 million. Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business earned ($0.23) earnings per share. Equities research analysts predict that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Activity

In other Sweetgreen news, Director Clifford Burrows acquired 19,200 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was purchased at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the transaction, the director now owns 19,200 shares of the company’s stock, valued at $251,712. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch Reback sold 4,000 shares of the business’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $21.07, for a total transaction of $84,280.00. Following the sale, the chief financial officer now owns 344,509 shares in the company, valued at $7,258,804.63. The trade was a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its holdings in Sweetgreen by 3,571.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,028 shares of the company’s stock valued at $33,000 after buying an additional 1,000 shares in the last quarter. Headlands Technologies LLC increased its stake in Sweetgreen by 156.0% in the 4th quarter. Headlands Technologies LLC now owns 1,216 shares of the company’s stock valued at $39,000 after purchasing an additional 741 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Sweetgreen by 45.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,574 shares of the company’s stock worth $50,000 after purchasing an additional 494 shares during the last quarter. Millstone Evans Group LLC purchased a new stake in Sweetgreen during the fourth quarter worth $53,000. Finally, Denver PWM LLC acquired a new stake in Sweetgreen in the fourth quarter valued at $60,000. 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.