Sweetgreen, Inc. (NYSE:SG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Sweetgreen, Inc. (NYSE:SG) has received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $22.00.

A number of research firms have recently issued reports on SG. TD Cowen reiterated a “hold” rating and issued a $17.00 price objective on shares of Sweetgreen in a report on Wednesday, April 10th. Oppenheimer increased their price target on shares of Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. Royal Bank of Canada upped their price objective on shares of Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. Piper Sandler boosted their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. Finally, Morgan Stanley raised their price objective on Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, April 12th.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $23.55 on Friday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of -23.25 and a beta of 2.22. Sweetgreen has a one year low of $8.64 and a one year high of $26.45. The firm has a fifty day moving average price of $22.13 and a two-hundred day moving average price of $14.68.

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

Insider Buying and Selling at Sweetgreen

In other news, CFO Mitch Reback sold 29,475 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $21.01, for a total transaction of $619,269.75. Following the transaction, the chief financial officer now directly owns 405,584 shares of the company’s stock, valued at $8,521,319.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Jonathan Neman sold 58,067 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.36, for a total value of $949,976.12. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mitch Reback sold 29,475 shares of Sweetgreen stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $21.01, for a total value of $619,269.75. Following the sale, the chief financial officer now owns 405,584 shares in the company, valued at $8,521,319.84. The disclosure for this sale can be found here. Insiders sold 130,267 shares of company stock valued at $2,090,933 in the last 90 days. Insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of Sweetgreen by 2.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 41,398 shares of the company’s stock worth $468,000 after acquiring an additional 830 shares in the last quarter. Forum Financial Management LP increased its stake in shares of Sweetgreen by 12.6% during the third quarter. Forum Financial Management LP now owns 11,262 shares of the company’s stock valued at $132,000 after purchasing an additional 1,262 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Sweetgreen by 11.7% in the 1st quarter. Principal Financial Group Inc. now owns 12,762 shares of the company’s stock worth $322,000 after buying an additional 1,337 shares during the last quarter. Swiss National Bank increased its position in Sweetgreen by 0.9% during the 1st quarter. Swiss National Bank now owns 176,600 shares of the company’s stock valued at $4,461,000 after buying an additional 1,500 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Sweetgreen by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 17,584 shares of the company’s stock valued at $444,000 after buying an additional 1,585 shares in the last quarter. Hedge funds and other institutional investors 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.