Sweetgreen (NYSE:SG) Given New $14.00 Price Target at Wells Fargo & Company

Sweetgreen (NYSE:SG) had its price objective hoisted by stock analysts at Wells Fargo & Company from $11.00 to $14.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 21.49% from the stock’s previous close.

Several other research firms have also weighed in on SG. UBS Group lifted their price objective on shares of Sweetgreen from $6.50 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. TD Cowen increased their target price on shares of Sweetgreen from $9.00 to $11.00 and gave the stock a “hold” rating in a research note on Friday. KeyCorp raised their price target on shares of Sweetgreen from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, October 23rd. Oppenheimer decreased their price target on shares of Sweetgreen from $10.00 to $8.50 and set an “outperform” rating for the company in a research note on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.94.

Sweetgreen Stock Down 2.3%

Shares of NYSE SG opened at $11.52 on Friday. Sweetgreen has a twelve month low of $4.49 and a twelve month high of $11.95. The firm has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $7.28. The company has a market capitalization of $1.37 billion, a PE ratio of 115.25 and a beta of 2.11.

Sweetgreen (NYSE:SG) last issued its quarterly earnings results on Friday, November 6th. The company reported ($0.26) EPS for the quarter, meeting analysts’ consensus estimates of ($0.26). Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The business had revenue of $176.02 million for the quarter, compared to analysts’ expectations of $170.07 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts expect that Sweetgreen will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, COO Jason Miles Cochran sold 4,809 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $29,863.89. Following the completion of the sale, the chief operating officer owned 207,076 shares in the company, valued at approximately $1,285,941.96. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jamie McConnell sold 15,033 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $93,354.93. Following the transaction, the chief financial officer owned 210,489 shares in the company, valued at approximately $1,307,136.69. The trade was a 6.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 18.19% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently made changes to their positions in SG. Wellington Management Group LLP acquired a new stake in shares of Sweetgreen in the 2nd quarter worth about $4,557,000. Bank of New York Mellon Corp bought a new position in Sweetgreen in the 2nd quarter valued at about $2,792,000. Granahan Investment Management LLC bought a new position in Sweetgreen in the 1st quarter valued at about $1,472,000. Quantinno Capital Management LP boosted its stake in Sweetgreen by 495.3% during the 1st quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock valued at $1,006,000 after purchasing an additional 161,209 shares during the last quarter. Finally, Curated Wealth Partners LLC acquired a new position in Sweetgreen during the 3rd quarter valued at about $480,000. 95.75% of the stock is owned by institutional investors.

Sweetgreen Company Profile

Sweetgreen, Inc operates a fast-casual restaurant company focused on fresh, customizable meals. Its menu includes salads, grain bowls, protein plates, sides, and beverages made with seasonal produce and other ingredients. Customers can order in restaurants or through Sweetgreen’s website and mobile application, with options for pickup and delivery.

Founded in 2007 by Nicolas Jammet, Jonathan Neman, and Nathaniel Ru, Sweetgreen began as a single restaurant in Washington, DC The company has expanded its restaurant network across metropolitan areas in the United States, with locations concentrated in major markets on the East and West coasts and in other regions.