Sweetgreen (NYSE:SG) Stock Rating Upgraded by Wall Street Zen

Sweetgreen (NYSE:SG) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Sunday.

SG has been the topic of a number of other research reports. Oppenheimer decreased their price target on shares of Sweetgreen from $10.00 to $8.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. BNP Paribas Exane upped their target price on shares of Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Friday, May 8th. Weiss Ratings lowered Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Royal Bank Of Canada reduced their price objective on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Finally, UBS Group raised Sweetgreen from a “neutral” rating to a “buy” rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Sweetgreen has an average rating of “Hold” and an average target price of $7.10.

Sweetgreen Trading Down 6.1%

Shares of Sweetgreen stock opened at $5.90 on Friday. The firm has a market cap of $702.34 million, a PE ratio of 59.01 and a beta of 2.20. The stock has a 50 day moving average of $7.40 and a 200 day moving average of $6.79. Sweetgreen has a 12 month low of $4.49 and a 12 month high of $10.63.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). The firm had revenue of $192.66 million during the quarter, compared to the consensus estimate of $194.50 million. Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%.The business’s revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.20) EPS. As a group, equities research analysts forecast that Sweetgreen will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds have recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its stake in Sweetgreen by 495.3% in the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock worth $1,006,000 after purchasing an additional 161,209 shares during the last quarter. Ibex Investors LLC boosted its position in shares of Sweetgreen by 5,058.7% during the fourth quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock valued at $5,580,000 after buying an additional 809,400 shares during the period. Granahan Investment Management LLC bought a new position in shares of Sweetgreen during the first quarter valued at approximately $1,472,000. MYDA Advisors LLC bought a new position in shares of Sweetgreen during the fourth quarter valued at approximately $676,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Sweetgreen by 35.6% in the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock worth $15,520,000 after buying an additional 603,029 shares during the period. 95.75% of the stock is currently owned by institutional investors.

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.