Sweetgreen (NYSE:SG) PT Raised to $16.00

Sweetgreen (NYSE:SG) had its price objective increased by Morgan Stanley from $11.00 to $16.00 in a research report released on Friday morning, Benzinga reports. They currently have an underweight rating on the stock.

SG has been the topic of several other reports. Citigroup boosted their price target on shares of Sweetgreen from $12.00 to $13.00 and gave the stock a neutral rating in a research report on Wednesday, February 21st. Piper Sandler boosted their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an overweight rating in a research report on Friday, March 1st. Royal Bank of Canada boosted their price target on shares of Sweetgreen from $13.00 to $20.00 and gave the stock an outperform rating in a research report on Monday, March 4th. TD Cowen reiterated a hold rating and issued a $17.00 price target on shares of Sweetgreen in a research report on Wednesday, April 10th. Finally, Oppenheimer boosted their price target on shares of Sweetgreen from $17.00 to $34.00 and gave the stock an outperform rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $20.50.

Sweetgreen Stock Down 7.3 %

Shares of NYSE SG opened at $21.08 on Friday. Sweetgreen has a fifty-two week low of $7.25 and a fifty-two week high of $26.45. The firm’s 50-day simple moving average is $18.65 and its 200 day simple moving average is $13.42. The stock has a market cap of $2.38 billion, a P/E ratio of -21.08 and a beta of 2.19.

Sweetgreen (NYSE:SG) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. The company had revenue of $153.00 million for the quarter, compared to the consensus estimate of $152.04 million. During the same quarter in the prior year, the firm earned ($0.44) earnings per share. Sweetgreen’s revenue for the quarter was up 29.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sweetgreen will post -0.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sweetgreen news, CEO Jonathan Neman sold 58,067 shares of Sweetgreen stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.36, for a total transaction of $949,976.12. Following the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Sweetgreen news, CEO Jonathan Neman sold 58,067 shares of Sweetgreen stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $16.36, for a total transaction of $949,976.12. Following the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mitch Reback sold 10,288 shares of Sweetgreen stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $12.00, for a total value of $123,456.00. Following the transaction, the chief financial officer now directly owns 432,393 shares in the company, valued at approximately $5,188,716. The disclosure for this sale can be found here. In the last quarter, insiders have sold 145,555 shares of company stock worth $2,266,739. Company insiders own 22.03% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of Sweetgreen by 394.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company’s stock valued at $26,000 after buying an additional 2,586 shares in the last quarter. Bourgeon Capital Management LLC bought a new stake in shares of Sweetgreen in the 3rd quarter valued at approximately $29,000. Clear Street Markets LLC bought a new stake in shares of Sweetgreen in the 4th quarter valued at approximately $33,000. Asset Dedication LLC bought a new stake in shares of Sweetgreen in the 2nd quarter valued at approximately $58,000. Finally, Comerica Bank bought a new stake in shares of Sweetgreen in the 2nd quarter valued at approximately $59,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

About Sweetgreen

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.