Sweetgreen’s (SG) “Buy” Rating Reaffirmed at TD Cowen

TD Cowen reiterated their buy rating on shares of Sweetgreen (NYSE:SG) in a research note released on Friday, Benzinga reports. They currently have a $43.00 price target on the stock.

Several other brokerages have also commented on SG. Oppenheimer upped their price target on shares of Sweetgreen from $36.00 to $40.00 and gave the stock an outperform rating in a research report on Thursday, August 15th. Bank of America upped their price objective on Sweetgreen from $39.00 to $43.00 and gave the stock a buy rating in a report on Monday, August 19th. The Goldman Sachs Group initiated coverage on Sweetgreen in a report on Thursday, June 13th. They issued a buy rating and a $39.00 target price on the stock. UBS Group upped their price target on Sweetgreen from $31.00 to $37.00 and gave the stock a buy rating in a research note on Friday, August 9th. Finally, Morgan Stanley lifted their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an equal weight rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Sweetgreen presently has an average rating of Moderate Buy and a consensus target price of $38.20.

Sweetgreen Stock Up 2.9 %

SG stock opened at $35.95 on Friday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of -38.66 and a beta of 2.32. Sweetgreen has a 52-week low of $8.64 and a 52-week high of $38.53. The stock’s fifty day simple moving average is $31.52 and its 200-day simple moving average is $28.51.

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 analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The business had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. During the same period in the previous year, the business posted ($0.20) earnings per share. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. As a group, analysts anticipate that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $102,793.61. Following the completion of the sale, the chief technology officer now owns 144,649 shares of the company’s stock, valued at $5,252,205.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Adrienne Gemperle sold 3,868 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the sale, the insider now directly owns 114,842 shares in the company, valued at $4,169,913.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Wouleta Ayele sold 2,831 shares of Sweetgreen stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the sale, the chief technology officer now directly owns 144,649 shares in the company, valued at $5,252,205.19. The disclosure for this sale can be found here. Insiders sold 426,061 shares of company stock valued at $15,071,720 over the last quarter. Company insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in Sweetgreen by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 731,369 shares of the company’s stock valued at $8,264,000 after acquiring an additional 15,463 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Sweetgreen by 38.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock worth $19,549,000 after purchasing an additional 476,998 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Sweetgreen in the 4th quarter valued at about $718,000. Boulder Hill Capital Management LP bought a new position in shares of Sweetgreen during the fourth quarter worth about $868,000. Finally, Armistice Capital LLC acquired a new position in Sweetgreen in the fourth quarter worth about $1,412,000. Institutional investors and hedge funds 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.