Sweetgreen, Inc. (NYSE:SG) Receives $11.43 Average Target Price from Brokerages

Sweetgreen, Inc. (NYSE:SG) has received an average recommendation of “Hold” from the sixteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $10.7857.

A number of equities analysts have weighed in on SG shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sweetgreen in a research note on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $8.00 price target on shares of Sweetgreen in a research note on Tuesday, December 9th. William Blair reaffirmed a “market perform” rating on shares of Sweetgreen in a research report on Friday, November 7th. Barclays boosted their target price on Sweetgreen from $5.00 to $7.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Finally, Wells Fargo & Company cut Sweetgreen from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $10.00 to $7.00 in a research note on Wednesday, December 17th.

Insider Transactions at Sweetgreen

In other news, CEO Jonathan Neman purchased 179,800 shares of Sweetgreen stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $5.56 per share, with a total value of $999,688.00. Following the completion of the transaction, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at approximately $999,688. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicolas Jammet acquired 18,115 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was acquired at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the transaction, the insider directly owned 18,115 shares in the company, valued at $99,813.65. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 19.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Glass Jacobson Investment Advisors llc bought a new stake in Sweetgreen in the 2nd quarter worth approximately $30,000. Larson Financial Group LLC lifted its holdings in shares of Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after buying an additional 2,349 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Sweetgreen by 98.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after buying an additional 1,055 shares during the last quarter. Bogart Wealth LLC grew its holdings in shares of Sweetgreen by 1,150.0% in the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after acquiring an additional 4,600 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Sweetgreen by 312.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after acquiring an additional 2,127 shares during the period. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Down 12.2%

Shares of SG stock opened at $7.00 on Friday. The business’s fifty day moving average is $6.88 and its 200 day moving average is $8.59. The stock has a market cap of $828.00 million, a price-to-earnings ratio of -7.21 and a beta of 1.93. Sweetgreen has a twelve month low of $5.14 and a twelve month high of $35.16.

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

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.