Brokerages Set Sweetgreen, Inc. (NYSE:SG) Price Target at $11.68

Sweetgreen, Inc. (NYSE:SG) has been assigned an average recommendation of “Hold” from the sixteen analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $11.6786.

A number of equities analysts recently weighed in on SG shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sweetgreen in a report on Wednesday, October 8th. Oppenheimer set a $10.00 price objective on Sweetgreen in a research report on Friday, November 7th. Morgan Stanley set a $10.00 target price on Sweetgreen in a research note on Tuesday, October 21st. Citigroup reissued a “buy” rating on shares of Sweetgreen in a research note on Wednesday, November 12th. Finally, Barclays cut their price target on shares of Sweetgreen from $8.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, November 10th.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $7.01 on Wednesday. The company has a market capitalization of $830.13 million, a PE ratio of -7.23 and a beta of 1.93. The company’s fifty day moving average price is $6.65 and its 200 day moving average price is $9.37. Sweetgreen has a 1 year low of $5.14 and a 1 year high of $35.95.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The firm had revenue of $172.39 million during the quarter, compared to analysts’ expectations of $179.29 million. During the same period in the previous year, the firm posted ($0.18) EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts expect that Sweetgreen will post -0.74 EPS for the current year.

Insider Transactions at Sweetgreen

In other news, CEO Jonathan Neman acquired 179,800 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was bought at an average cost of $5.56 per share, for a total transaction of $999,688.00. Following the purchase, the chief executive officer owned 179,800 shares in the company, valued at approximately $999,688. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Nicolas Jammet bought 18,115 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was purchased at an average price of $5.51 per share, for a total transaction of $99,813.65. Following the transaction, the insider owned 18,115 shares of the company’s stock, valued at approximately $99,813.65. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 19.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Marshall Wace LLP grew its holdings in shares of Sweetgreen by 1,428.8% during the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after purchasing an additional 3,667,306 shares during the period. Greenhouse Funds LLLP acquired a new position in Sweetgreen in the second quarter valued at about $32,122,000. Champlain Investment Partners LLC purchased a new position in Sweetgreen during the first quarter worth about $31,558,000. Stephens Investment Management Group LLC increased its position in shares of Sweetgreen by 89.5% during the second quarter. Stephens Investment Management Group LLC now owns 2,567,526 shares of the company’s stock valued at $38,205,000 after acquiring an additional 1,212,708 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Sweetgreen by 240.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,692,838 shares of the company’s stock valued at $13,509,000 after acquiring an additional 1,196,222 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

Sweetgreen Company Profile

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.