Sweetgreen (NYSE:SG) Price Target Raised to $25.00 at Citigroup

Sweetgreen (NYSE:SG) had its target price lifted by Citigroup from $16.00 to $25.00 in a report released on Tuesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

SG has been the subject of a number of other reports. TD Cowen reiterated a hold rating and issued a $17.00 target price on shares of Sweetgreen in a research note on Wednesday, April 10th. Piper Sandler boosted their price objective on Sweetgreen from $16.00 to $19.00 and gave the stock an overweight rating in a research report on Friday, March 1st. Oppenheimer upped their price target on Sweetgreen from $17.00 to $34.00 and gave the stock an outperform rating in a report on Monday, April 1st. Royal Bank of Canada raised their price objective on shares of Sweetgreen from $13.00 to $20.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Finally, Morgan Stanley upped their target price on shares of Sweetgreen from $11.00 to $16.00 and gave the company an underweight rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Sweetgreen has an average rating of Moderate Buy and a consensus price target of $22.00.

Sweetgreen Stock Performance

SG stock opened at $22.10 on Tuesday. The stock has a market cap of $2.50 billion, a P/E ratio of -22.10 and a beta of 2.22. The firm has a 50 day simple moving average of $21.24 and a 200 day simple moving average of $14.33. Sweetgreen has a 52 week low of $7.56 and a 52 week high of $26.45.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The company had revenue of $153.00 million during the quarter, compared to analyst estimates of $152.04 million. During the same period last year, the company posted ($0.44) earnings per share. The company’s revenue was up 29.0% compared to the same quarter last year. Sell-side analysts predict that Sweetgreen will post -0.71 EPS for the current year.

Insider Activity

In other news, CFO Mitch Reback sold 10,288 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the sale, the chief financial officer now directly owns 432,393 shares in the company, valued at approximately $5,188,716. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Adrienne Gemperle sold 4,000 shares of Sweetgreen stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.00, for a total value of $64,000.00. Following the completion of the transaction, the insider now owns 129,407 shares in the company, valued at $2,070,512. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 10,288 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $12.00, for a total value of $123,456.00. Following the sale, the chief financial officer now owns 432,393 shares in the company, valued at $5,188,716. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,555 shares of company stock worth $2,214,389. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

A number of hedge funds have recently added to or reduced their stakes in SG. Bourgeon Capital Management LLC bought a new position in Sweetgreen in the third quarter valued at about $29,000. Compagnie Lombard Odier SCmA raised its position in shares of Sweetgreen by 300.0% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 8,000 shares of the company’s stock valued at $94,000 after acquiring an additional 6,000 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Sweetgreen during the 4th quarter valued at $104,000. Clear Harbor Asset Management LLC acquired a new position in shares of Sweetgreen in the 4th quarter valued at $113,000. Finally, Triumph Capital Management bought a new position in shares of Sweetgreen in the 4th quarter worth $126,000. Institutional investors own 95.75% of the company’s stock.

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.