Sweetgreen, Inc. (NYSE:SG) Receives Consensus Recommendation of “Hold” from Analysts

Sweetgreen, Inc. (NYSE:SG) has received a consensus rating of “Hold” from the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $10.8286.

Several research analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 20th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $8.00 price target on shares of Sweetgreen in a research report on Tuesday, December 9th. Barclays boosted their price objective on shares of Sweetgreen from $5.00 to $7.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 7th. Sanford C. Bernstein set a $7.00 target price on Sweetgreen in a research report on Wednesday, January 7th. Finally, Citigroup reiterated a “buy” rating on shares of Sweetgreen in a report on Wednesday, November 12th.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Glass Jacobson Investment Advisors llc acquired a new position in Sweetgreen during the second quarter valued at approximately $30,000. Larson Financial Group LLC increased its position in shares of Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after acquiring an additional 2,349 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Sweetgreen by 98.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after acquiring an additional 1,055 shares during the period. Bogart Wealth LLC lifted its holdings in shares of Sweetgreen by 1,150.0% during the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Sweetgreen by 312.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after acquiring an additional 2,127 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

Sweetgreen Trading Down 2.7%

NYSE SG opened at $5.27 on Thursday. The business’s 50-day moving average price is $6.86 and its 200 day moving average price is $7.77. Sweetgreen has a twelve month low of $5.14 and a twelve month high of $27.49. The company has a market capitalization of $623.22 million, a PE ratio of -5.43 and a beta of 1.92.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.