Q3 Earnings Forecast for Sweetgreen Issued By William Blair

Sweetgreen, Inc. (NYSE:SG) – Equities research analysts at William Blair decreased their Q3 2024 earnings per share estimates for Sweetgreen in a note issued to investors on Wednesday, October 23rd. William Blair analyst S. Zackfia now forecasts that the company will earn ($0.15) per share for the quarter, down from their previous estimate of ($0.14). The consensus estimate for Sweetgreen’s current full-year earnings is ($0.75) per share. William Blair also issued estimates for Sweetgreen’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.73) EPS and FY2025 earnings at ($0.52) EPS.

SG has been the topic of a number of other reports. UBS Group upped their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a report on Friday, August 9th. Oppenheimer upped their price objective on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and set a $39.00 target price (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Bank of America boosted their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, TD Cowen reaffirmed a “buy” rating and set a $43.00 price target on shares of Sweetgreen in a report on Friday, September 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.20.

Sweetgreen Price Performance

Shares of SG stock opened at $37.48 on Monday. The company has a fifty day moving average price of $34.59 and a two-hundred day moving average price of $30.24. Sweetgreen has a one year low of $8.64 and a one year high of $39.75. The stock has a market cap of $4.25 billion, a P/E ratio of -40.30 and a beta of 2.33.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million during 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 quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) EPS.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SG. Quest Partners LLC acquired a new position in shares of Sweetgreen in the 2nd quarter valued at approximately $76,000. Atomi Financial Group Inc. bought a new position in Sweetgreen in the third quarter valued at approximately $216,000. Versor Investments LP acquired a new position in Sweetgreen during the second quarter valued at approximately $217,000. Precision Wealth Strategies LLC bought a new stake in Sweetgreen during the third quarter worth $227,000. Finally, LVW Advisors LLC acquired a new stake in shares of Sweetgreen in the 3rd quarter valued at $229,000. 95.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sweetgreen

In other news, CEO Jonathan Neman sold 169,772 shares of Sweetgreen stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at approximately $69,044,255.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 379,181 shares in the company, valued at approximately $13,881,816.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Neman sold 169,772 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $69,044,255.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 426,061 shares of company stock valued at $15,071,720 in the last ninety days. 21.52% of the stock is currently owned by corporate insiders.

About Sweetgreen

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.