Sweetgreen (NYSE:SG) Price Target Raised to $26.00 at TD Cowen

Sweetgreen (NYSE:SG) had its target price boosted by stock analysts at TD Cowen from $22.00 to $26.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective suggests a potential upside of 10.40% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Citigroup upped their price target on shares of Sweetgreen from $16.00 to $25.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Royal Bank of Canada upped their price objective on Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a report on Monday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Oppenheimer lifted their target price on Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Finally, Morgan Stanley upped their price target on Sweetgreen from $11.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and an average price target of $23.13.

Sweetgreen Trading Up 1.3 %

Shares of Sweetgreen stock opened at $23.55 on Friday. Sweetgreen has a 12 month low of $8.64 and a 12 month high of $26.45. The stock’s fifty day moving average price is $22.13 and its 200-day moving average price is $14.68. The firm has a market cap of $2.66 billion, a P/E ratio of -23.55 and a beta of 2.22.

Sweetgreen (NYSE:SG) last released its quarterly earnings results 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 firm had revenue of $153.00 million during the quarter, compared to the consensus estimate of $152.04 million. During the same quarter in the prior year, the business posted ($0.44) earnings per share. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. Analysts forecast that Sweetgreen will post -0.71 earnings per share for the current year.

Insider Activity at Sweetgreen

In other news, CEO Jonathan Neman sold 58,067 shares of Sweetgreen stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.36, for a total transaction of $949,976.12. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $34,356,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sweetgreen news, CFO Mitch Reback sold 29,475 shares of Sweetgreen stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $21.01, for a total transaction of $619,269.75. Following the transaction, the chief financial officer now directly owns 405,584 shares of the company’s stock, valued at $8,521,319.84. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jonathan Neman sold 58,067 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.36, for a total transaction of $949,976.12. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The disclosure for this sale can be found here. Insiders have sold a total of 130,267 shares of company stock valued at $2,090,933 over the last quarter. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently added to or reduced their stakes in the company. Bourgeon Capital Management LLC acquired a new stake in shares of Sweetgreen during the third quarter worth approximately $29,000. Quest Partners LLC bought a new stake in shares of Sweetgreen in the 4th quarter worth about $104,000. Clear Harbor Asset Management LLC acquired a new stake in shares of Sweetgreen in the 4th quarter valued at about $113,000. Triumph Capital Management bought a new position in shares of Sweetgreen during the fourth quarter worth about $126,000. Finally, Forum Financial Management LP grew its stake in Sweetgreen by 12.6% in the third quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock worth $132,000 after purchasing an additional 1,262 shares in the last quarter. 95.75% of the stock is owned by institutional investors and hedge funds.

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.