Sweetgreen, Inc. (NYSE:SG) Receives $25.23 Consensus Price Target from Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have received a consensus rating of “Hold” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $25.23.

A number of equities analysts have recently issued reports on SG shares. TD Cowen reissued a “hold” rating and set a $19.00 price objective on shares of Sweetgreen in a research report on Tuesday, July 1st. Morgan Stanley cut their target price on Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Oppenheimer decreased their price target on shares of Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. UBS Group reduced their price objective on shares of Sweetgreen from $35.00 to $30.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Sweetgreen from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 25th.

Insider Buying and Selling at Sweetgreen

In related news, Director Clifford Burrows purchased 19,200 shares of the firm’s stock in a transaction dated Friday, May 23rd. The shares were purchased at an average cost of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the transaction, the director directly owned 19,200 shares in the company, valued at approximately $251,712. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Mitch Reback sold 10,088 shares of the company’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $15.23, for a total value of $153,640.24. Following the completion of the transaction, the chief financial officer owned 334,421 shares in the company, valued at $5,093,231.83. This represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp lifted its holdings in Sweetgreen by 55.3% in the 4th quarter. Stifel Financial Corp now owns 12,562 shares of the company’s stock worth $403,000 after buying an additional 4,474 shares during the period. Sequoia Financial Advisors LLC lifted its position in Sweetgreen by 50.8% during the first quarter. Sequoia Financial Advisors LLC now owns 13,280 shares of the company’s stock valued at $332,000 after buying an additional 4,474 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Sweetgreen by 4.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,191 shares of the company’s stock worth $936,000 after acquiring an additional 1,278 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Sweetgreen by 54.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,318 shares of the company’s stock worth $523,000 after purchasing an additional 5,783 shares during the period. Finally, LPL Financial LLC grew its stake in shares of Sweetgreen by 400.1% in the fourth quarter. LPL Financial LLC now owns 59,592 shares of the company’s stock worth $1,911,000 after acquiring an additional 47,676 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Stock Up 2.7%

Shares of NYSE SG opened at $14.80 on Wednesday. The company has a market capitalization of $1.74 billion, a PE ratio of -19.21 and a beta of 2.06. Sweetgreen has a twelve month low of $11.86 and a twelve month high of $45.12. The firm has a fifty day simple moving average of $14.70 and a 200 day simple moving average of $22.46.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate 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 return on equity of 19.72% and a negative net margin of 13.04%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) earnings per share. As a group, equities analysts expect that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

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.