Sweetgreen, Inc. (NYSE:SG) Receives $38.20 Consensus PT from Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $38.20.

A number of research firms recently commented on SG. TD Cowen reiterated a “buy” rating and set a $43.00 price objective on shares of Sweetgreen in a research note on Friday, September 27th. Royal Bank of Canada boosted their price objective on Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Bank of America upped their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. The Goldman Sachs Group initiated coverage on Sweetgreen in a report on Thursday, June 13th. They set a “buy” rating and a $39.00 target price on the stock. Finally, Piper Sandler reissued a “neutral” rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen in a report on Monday, August 19th.

Sweetgreen Trading Down 0.4 %

Shares of NYSE SG opened at $34.76 on Monday. Sweetgreen has a 12-month low of $8.64 and a 12-month high of $38.53. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -37.38 and a beta of 2.32. The stock’s 50 day simple moving average is $32.12 and its 200 day simple moving average is $28.74.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) earnings per share. As a group, equities analysts forecast that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.61, for a total transaction of $335,201.16. Following the transaction, the chief financial officer now directly owns 379,181 shares in the company, valued at $13,881,816.41. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.61, for a total value of $335,201.16. Following the transaction, the chief financial officer now owns 379,181 shares in the company, valued at approximately $13,881,816.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Wouleta Ayele sold 2,831 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $102,793.61. Following the completion of the sale, the chief technology officer now directly owns 144,649 shares in the company, valued at approximately $5,252,205.19. The disclosure for this sale can be found here. Insiders have sold a total of 426,061 shares of company stock worth $15,071,720 in the last 90 days. 21.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its stake in Sweetgreen by 38.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after acquiring an additional 476,998 shares during the period. Armistice Capital LLC acquired a new position in shares of Sweetgreen in the fourth quarter valued at $1,412,000. Teca Partners LP bought a new position in Sweetgreen in the fourth quarter worth $8,475,000. Verition Fund Management LLC acquired a new stake in Sweetgreen during the fourth quarter worth $8,452,000. Finally, Conrad N. Hilton Foundation acquired a new stake in Sweetgreen during the fourth quarter worth $434,000. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.