Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Hold” from Brokerages

Sweetgreen, Inc. (NYSE:SG) has been assigned a consensus recommendation of “Hold” from the eighteen analysts that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.7250.

A number of research firms have recently issued reports on SG. UBS Group boosted their price objective on Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings raised Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. DA Davidson lifted their price target on shares of Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. TD Cowen boosted their price target on shares of Sweetgreen from $7.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SG. Versant Capital Management Inc lifted its stake in Sweetgreen by 241.5% during the second quarter. Versant Capital Management Inc now owns 10,518 shares of the company’s stock worth $93,000 after purchasing an additional 7,438 shares during the period. Eastern Bank lifted its position in shares of Sweetgreen by 29.1% during the 2nd quarter. Eastern Bank now owns 25,224 shares of the company’s stock worth $222,000 after buying an additional 5,693 shares during the period. Quantinno Capital Management LP lifted its position in shares of Sweetgreen by 495.3% during the 1st quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock worth $1,006,000 after buying an additional 161,209 shares during the period. SummitTX Capital L.P. acquired a new stake in Sweetgreen in the 1st quarter valued at $98,000. Finally, Granahan Investment Management LLC bought a new stake in Sweetgreen in the first quarter valued at $1,472,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Stock Up 6.1%

Shares of SG opened at $6.06 on Thursday. Sweetgreen has a 12-month low of $4.49 and a 12-month high of $12.80. The firm has a market capitalization of $719.63 million, a price-to-earnings ratio of 50.47 and a beta of 2.19. The stock’s 50-day moving average price is $7.84 and its 200 day moving average price is $6.87.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The firm had revenue of $161.52 million during the quarter, compared to analyst estimates of $163.94 million. During the same period last year, the company earned ($0.21) EPS. The company’s revenue was down 2.9% on a year-over-year basis. Equities research analysts expect that Sweetgreen will post -0.51 EPS for the current year.

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.