Sweetgreen, Inc. (NYSE:SG) Receives $38.20 Average PT from Brokerages

Sweetgreen, Inc. (NYSE:SG) has been given a consensus rating of “Moderate Buy” by the eleven analysts that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $38.20.

Several brokerages have weighed in on SG. Bank of America lifted their target price on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, August 19th. UBS Group lifted their target price on Sweetgreen from $31.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. TD Cowen reaffirmed a “buy” rating and set a $43.00 target price on shares of Sweetgreen in a research note on Friday, September 27th. Finally, Citigroup lifted their price target on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th.

Insider Buying and Selling

In related news, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the transaction, the insider now directly owns 1,952,129 shares in the company, valued at $56,104,187.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CTO Wouleta Ayele sold 2,831 shares of Sweetgreen stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the transaction, the chief technology officer now directly owns 144,649 shares in the company, valued at $5,252,205.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nathaniel Ru sold 9,250 shares of Sweetgreen stock in a transaction on Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the completion of the transaction, the insider now owns 1,952,129 shares in the company, valued at $56,104,187.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 426,061 shares of company stock worth $15,071,720 in the last three months. 21.52% of the stock is currently owned by insiders.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently modified their holdings of the business. Oliver Luxxe Assets LLC acquired a new stake in shares of Sweetgreen in the third quarter worth $1,973,000. Sei Investments Co. bought a new position in shares of Sweetgreen in the first quarter worth about $1,110,000. Vanguard Group Inc. increased its stake in shares of Sweetgreen by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock worth $94,361,000 after purchasing an additional 224,522 shares during the period. Davidson Kempner Capital Management LP increased its stake in shares of Sweetgreen by 40.1% in the second quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after purchasing an additional 164,600 shares during the period. Finally, Cetera Investment Advisers increased its stake in Sweetgreen by 62.1% during the second quarter. Cetera Investment Advisers now owns 55,354 shares of the company’s stock valued at $1,668,000 after acquiring an additional 21,203 shares during the period. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Up 2.3 %

Shares of Sweetgreen stock opened at $37.48 on Friday. The business’s 50 day simple moving average is $34.59 and its 200-day simple moving average is $30.24. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -40.30 and a beta of 2.33. Sweetgreen has a twelve month low of $8.64 and a twelve month high of $39.75.

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

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.