Oppenheimer Forecasts Strong Price Appreciation for Sweetgreen (NYSE:SG) Stock

Sweetgreen (NYSE:SG) had its price objective upped by equities researchers at Oppenheimer from $40.00 to $45.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 13.38% from the company’s current price.

A number of other equities research analysts have also weighed in on SG. Morgan Stanley lifted their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Piper Sandler reaffirmed a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. UBS Group increased their target price on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Bank of America lifted their price target on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, TD Cowen reiterated a “buy” rating and issued a $43.00 price objective on shares of Sweetgreen in a report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.80.

Sweetgreen Stock Performance

Shares of SG stock opened at $39.69 on Friday. Sweetgreen has a fifty-two week low of $8.64 and a fifty-two week high of $42.77. The firm has a market cap of $4.53 billion, a P/E ratio of -48.40 and a beta of 2.32. The business’s 50 day moving average price is $35.59 and its 200-day moving average price is $31.40.

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

Insider Transactions at Sweetgreen

In related news, CEO Jonathan Neman sold 20,937 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $40.03, for a total value of $838,108.11. Following the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $77,267,026.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jonathan Neman sold 20,937 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.03, for a total value of $838,108.11. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $77,267,026.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $140,447.08. Following the sale, the insider now owns 114,842 shares in the company, valued at approximately $4,169,913.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 466,022 shares of company stock valued at $16,671,481 in the last quarter. 21.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Several large investors have recently bought and sold shares of SG. Baillie Gifford & Co. grew its position in Sweetgreen by 6.2% in the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after purchasing an additional 721,740 shares during the period. Vanguard Group Inc. grew its holdings in shares of Sweetgreen by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock worth $212,713,000 after acquiring an additional 70,395 shares during the period. Driehaus Capital Management LLC increased its position in Sweetgreen by 231.8% during the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after acquiring an additional 1,878,216 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Sweetgreen by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock valued at $53,151,000 after acquiring an additional 39,823 shares during the period. Finally, Hood River Capital Management LLC lifted its holdings in Sweetgreen by 42.6% in the second quarter. Hood River Capital Management LLC now owns 1,643,028 shares of the company’s stock valued at $49,521,000 after acquiring an additional 490,806 shares during the period. 95.75% of the stock is currently owned by institutional investors.

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.