Brokerages Set Sweetgreen, Inc. (NYSE:SG) Price Target at $7.72

Sweetgreen, Inc. (NYSE:SG) has earned a consensus rating of “Hold” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $7.10.

A number of brokerages have issued reports on SG. KeyCorp reaffirmed a “sector weight” rating on shares of Sweetgreen in a research note on Monday. BNP Paribas Exane boosted their price objective on Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a research note on Friday, May 8th. Wells Fargo & Company cut their price objective on Sweetgreen from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, August 7th. Royal Bank Of Canada decreased their target price on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating for the company in a research note on Friday, August 7th. Finally, UBS Group raised Sweetgreen from a “neutral” rating to a “buy” rating in a report on Friday, August 7th.

Sweetgreen Trading Up 9.1%

Shares of NYSE:SG opened at $5.88 on Thursday. The company has a 50 day moving average of $7.48 and a 200-day moving average of $6.81. The firm has a market cap of $698.72 million, a P/E ratio of 58.81 and a beta of 2.19. Sweetgreen has a twelve month low of $4.49 and a twelve month high of $10.63.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Sweetgreen had a net margin of 2.01% and a negative return on equity of 34.03%. The company had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. During the same quarter in the prior year, the business earned ($0.20) EPS. Sweetgreen’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts forecast that Sweetgreen will post -0.93 EPS for the current year.

Hedge Funds Weigh In On Sweetgreen

Several large investors have recently made changes to their positions in SG. Larson Financial Group LLC grew its stake in shares of Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after purchasing an additional 2,349 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Sweetgreen during the first quarter valued at approximately $38,000. CWM LLC boosted its holdings in Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after buying an additional 4,984 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in Sweetgreen by 281.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after buying an additional 5,839 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Sweetgreen by 241.5% in the second quarter. Versant Capital Management Inc now owns 10,518 shares of the company’s stock worth $93,000 after buying an additional 7,438 shares during the last quarter. Institutional investors own 95.75% of the company’s stock.

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.