Sweetgreen (NYSE:SG) Rating Increased to Strong Sell at BNP Paribas Exane

BNP Paribas Exane upgraded shares of Sweetgreen (NYSE:SG) to a strong sell rating in a research report report published on Monday morning,Zacks.com reports.

SG has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on shares of Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Piper Sandler cut their price target on shares of Sweetgreen from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, March 27th. Wells Fargo & Company downgraded shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $10.00 to $7.00 in a research report on Wednesday, December 17th. UBS Group lowered their price objective on Sweetgreen from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Finally, Morgan Stanley dropped their target price on Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. Three research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.84.

Sweetgreen Price Performance

Sweetgreen stock opened at $5.17 on Monday. The business has a 50 day simple moving average of $5.71 and a 200-day simple moving average of $6.66. Sweetgreen has a 12 month low of $4.49 and a 12 month high of $25.88. The stock has a market capitalization of $611.74 million, a PE ratio of -4.53 and a beta of 1.93.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.11). The firm 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 business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.25) earnings per share. As a group, equities research analysts anticipate that Sweetgreen will post -0.74 EPS for the current year.

Insider Activity at Sweetgreen

In related news, insider Nicolas Jammet purchased 4,428 shares of the stock in a transaction dated Thursday, March 5th. The shares were acquired at an average cost of $5.71 per share, with a total value of $25,283.88. Following the purchase, the insider directly owned 22,543 shares in the company, valued at $128,720.53. This trade represents a 24.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 19.78% of the company’s stock.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd boosted its holdings in Sweetgreen by 548.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 13,437 shares of the company’s stock worth $91,000 after buying an additional 11,364 shares in the last quarter. Alpine Global Management LLC purchased a new position in Sweetgreen in the fourth quarter valued at about $92,000. Aristides Capital LLC acquired a new stake in shares of Sweetgreen during the 4th quarter valued at approximately $185,000. Virtu Financial LLC acquired a new stake in shares of Sweetgreen during the 4th quarter valued at approximately $674,000. Finally, Invesco Ltd. boosted its stake in shares of Sweetgreen by 23.9% during the 4th quarter. Invesco Ltd. now owns 134,511 shares of the company’s stock worth $909,000 after acquiring an additional 25,921 shares in the last quarter. Institutional investors and hedge funds 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.