Sweetgreen, Inc. (NYSE:SG) Given Average Recommendation of “Hold” by Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have received an average recommendation of “Hold” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $10.8286.

A number of brokerages have recently weighed in on SG. Piper Sandler dropped their price objective on shares of Sweetgreen from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Oppenheimer set a $10.00 price target on Sweetgreen in a research report on Friday, November 7th. Wells Fargo & Company downgraded 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. Sanford C. Bernstein set a $7.00 price objective on Sweetgreen in a research note on Wednesday, January 7th. Finally, Barclays boosted their target price on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th.

Institutional Trading of Sweetgreen

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

Sweetgreen Trading Up 12.8%

NYSE:SG opened at $5.96 on Thursday. The company has a market capitalization of $704.89 million, a P/E ratio of -6.14 and a beta of 1.92. The firm has a 50-day moving average price of $6.71 and a two-hundred day moving average price of $7.50. Sweetgreen has a twelve month low of $4.99 and a twelve month high of $27.15.

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.