Sweetgreen (NYSE:SG) PT Raised to $40.00 at Oppenheimer

Sweetgreen (NYSE:SG) had its price target upped by Oppenheimer from $36.00 to $40.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the stock.

Several other analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the company a neutral rating in a research report on Friday, August 9th. William Blair restated an outperform rating on shares of Sweetgreen in a research report on Wednesday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Sweetgreen from $32.00 to $37.00 and gave the company an overweight rating in a report on Friday, June 14th. Royal Bank of Canada increased their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an outperform rating in a research note on Friday, June 7th. Finally, The Goldman Sachs Group started coverage on Sweetgreen in a report on Thursday, June 13th. They issued a buy rating and a $39.00 target price on the stock. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $34.00.

Sweetgreen Price Performance

Shares of NYSE:SG opened at $37.37 on Thursday. Sweetgreen has a one year low of $8.64 and a one year high of $37.88. The company has a 50 day moving average of $28.60 and a 200-day moving average of $24.38. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of -40.18 and a beta of 2.30.

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

Insider Transactions at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 6,808 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.95, for a total transaction of $210,707.60. Following the sale, the insider now owns 118,710 shares in the company, valued at approximately $3,674,074.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Sweetgreen news, insider Adrienne Gemperle sold 6,808 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.95, for a total value of $210,707.60. Following the sale, the insider now directly owns 118,710 shares of the company’s stock, valued at $3,674,074.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total value of $4,575,000.00. Following the sale, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $64,050,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,645 shares of company stock worth $5,068,315. Insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Several institutional investors have recently bought and sold shares of SG. Quest Partners LLC acquired a new stake in Sweetgreen in the 2nd quarter worth about $76,000. Versor Investments LP acquired a new position in Sweetgreen in the 2nd quarter valued at $217,000. Thoroughbred Financial Services LLC acquired a new stake in Sweetgreen during the 2nd quarter worth $233,000. Nkcfo LLC purchased a new stake in shares of Sweetgreen during the second quarter worth $241,000. Finally, Moloney Securities Asset Management LLC acquired a new stake in shares of Sweetgreen in the second quarter valued at about $256,000. 95.75% of the stock is owned by institutional investors and hedge funds.

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.