Sweetgreen (NYSE:SG) Shares Up 7.2% – Time to Buy?

Sweetgreen, Inc. (NYSE:SG) shares were up 7.2% during trading on Monday . The stock traded as high as $5.78 and last traded at $5.7050. Approximately 1,880,598 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 4,370,969 shares. The stock had previously closed at $5.32.

Analysts Set New Price Targets

Several research analysts have issued reports on SG shares. Morgan Stanley cut their price target on Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Sanford C. Bernstein set a $7.00 price objective on Sweetgreen in a report on Wednesday, January 7th. UBS Group cut their target price on Sweetgreen from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Barclays lifted their price target on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sweetgreen has an average rating of “Hold” and a consensus price target of $8.22.

Sweetgreen Stock Up 9.3%

The company has a market cap of $688.32 million, a PE ratio of -5.07 and a beta of 1.93. The company has a 50-day moving average of $6.28 and a 200-day moving average of $6.96.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The company had revenue of $155.19 million during the quarter, compared to analysts’ expectations of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.25) earnings per share. As a group, equities analysts predict that Sweetgreen, Inc. will post -0.74 EPS for the current year.

Insider Buying and Selling at Sweetgreen

In other news, insider Nicolas Jammet purchased 4,428 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were acquired at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the completion of the acquisition, the insider owned 22,543 shares in the company, valued at $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 19.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Sweetgreen by 1.4% in the third quarter. Vanguard Group Inc. now owns 9,593,744 shares of the company’s stock valued at $76,558,000 after acquiring an additional 129,572 shares in the last quarter. Woodson Capital Management LP lifted its holdings in Sweetgreen by 152.6% during the fourth quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock worth $40,560,000 after acquiring an additional 3,625,000 shares during the period. Spyglass Capital Management LLC boosted its position in Sweetgreen by 4.0% in the third quarter. Spyglass Capital Management LLC now owns 4,056,570 shares of the company’s stock worth $32,371,000 after purchasing an additional 156,757 shares during the last quarter. Greenhouse Funds LLLP grew its stake in Sweetgreen by 82.8% in the 3rd quarter. Greenhouse Funds LLLP now owns 3,946,884 shares of the company’s stock valued at $31,496,000 after purchasing an additional 1,788,175 shares during the period. Finally, Marshall Wace LLP grew its stake in Sweetgreen by 1,428.8% in the 3rd quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after purchasing an additional 3,667,306 shares during the period. Institutional investors own 95.75% of the company’s stock.

About Sweetgreen

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.