Sweetgreen (NYSE:SG) Given New $8.50 Price Target at Oppenheimer

Sweetgreen (NYSE:SG) had its price target trimmed by Oppenheimer from $10.00 to $8.50 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages also recently commented on SG. Royal Bank Of Canada dropped their target price on Sweetgreen from $7.00 to $6.50 and set an “outperform” rating on the stock in a report on Friday. JPMorgan Chase & Co. raised shares of Sweetgreen from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $13.00 in a research note on Friday, May 22nd. BNP Paribas Exane boosted their price objective on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Friday, May 8th. Weiss Ratings raised Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Finally, UBS Group restated a “buy” rating on shares of Sweetgreen in a research note on Friday. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.19.

Sweetgreen Stock Down 8.2%

NYSE SG opened at $5.39 on Friday. The stock has a market cap of $640.49 million, a price-to-earnings ratio of 53.91 and a beta of 2.19. The business has a fifty day moving average of $7.66 and a 200-day moving average of $6.85. Sweetgreen has a fifty-two week low of $4.49 and a fifty-two week high of $10.63.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). The business had revenue of $192.66 million during the quarter, compared to analysts’ expectations of $194.50 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 34.03%. Sweetgreen’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.20) EPS. As a group, analysts anticipate that Sweetgreen will post -0.52 EPS for the current year.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC boosted its position in shares of Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares during the period. Fifth Third Bancorp purchased a new stake in shares of Sweetgreen in the first quarter valued at $38,000. CWM LLC lifted its holdings in shares of Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after purchasing an additional 4,984 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after buying an additional 5,839 shares during the period. Finally, Onyx Bridge Wealth Group LLC acquired a new stake in shares of Sweetgreen in the first quarter worth $56,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Key Sweetgreen News

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Second-quarter revenue increased 3.8% year over year to $192.66 million, indicating continued sales growth despite the challenging environment. Oppenheimer maintained an “outperform” rating, although it reduced its price target from $10 to $8.50. Oppenheimer lowers Sweetgreen price target
• Neutral Sentiment: Sweetgreen said it has not been implicated in the ongoing cyclospora outbreak, but consumer concerns about fresh produce are affecting traffic. The company removed jalapeños from its offerings amid the broader food-safety concerns. Sweetgreen cuts full-year outlook as cyclospora fears weigh on sales
• Negative Sentiment: Sweetgreen reported a second-quarter loss of $0.22 per share, wider than the $0.13 loss analysts expected and worse than the $0.20 loss a year earlier. Revenue also fell slightly short of estimates. Sweetgreen reports second-quarter loss and misses revenue estimates
• Negative Sentiment: Same-store sales declined 6.2% in the quarter, marking the chain’s sixth consecutive comparable-sales decline. Management now expects full-year same-store sales to fall 7%–8%, reflecting weaker customer demand linked to cyclospora fears. Sweetgreen shares slide as cyclosporiasis fears prompt forecast cut
• Negative Sentiment: Analysts lowered their valuations following the earnings release: Wells Fargo cut its target from $7 to $6, while TD Cowen reduced its target from $8 to $5 and assigned a “hold” rating. Analysts lower Sweetgreen price targets

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.