Sweetgreen, Inc. (NYSE:SG) Stock Has Average Price Target of $7.27 According to Analysts

Shares of Sweetgreen, Inc. (NYSE:SG) have received a consensus rating of “Hold” from the nineteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $7.27.

Several brokerages have recently commented on SG. DA Davidson cut their price target on Sweetgreen from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Wells Fargo & Company dropped their target price on shares of Sweetgreen from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. TD Cowen raised their target price on shares of Sweetgreen from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, September 11th. Oppenheimer cut their target price on shares of Sweetgreen from $10.00 to $8.50 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, Royal Bank Of Canada reduced their price target on shares of Sweetgreen from $7.00 to $6.50 and set an “outperform” rating for the company in a report on Friday, August 7th.

Insider Activity at Sweetgreen

In other Sweetgreen news, CFO Jamie McConnell sold 15,033 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $93,354.93. Following the completion of the sale, the chief financial officer owned 210,489 shares in the company, valued at $1,307,136.69. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jason Miles Cochran sold 4,809 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $6.21, for a total value of $29,863.89. Following the sale, the chief operating officer directly owned 207,076 shares in the company, valued at $1,285,941.96. This trade represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 18.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SG. Bank of New York Mellon Corp bought a new stake in Sweetgreen during the second quarter valued at about $2,792,000. Quantinno Capital Management LP raised its holdings in Sweetgreen by 495.3% in the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock worth $1,006,000 after purchasing an additional 161,209 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Sweetgreen during the second quarter valued at about $4,557,000. Ibex Investors LLC lifted its position in shares of Sweetgreen by 5,058.7% during the fourth quarter. Ibex Investors LLC now owns 825,400 shares of the company’s stock valued at $5,580,000 after buying an additional 809,400 shares during the last quarter. Finally, Granahan Investment Management LLC purchased a new stake in shares of Sweetgreen during the first quarter valued at about $1,472,000. 95.75% of the stock is owned by institutional investors.

Sweetgreen Stock Up 6.9%

SG opened at $8.24 on Friday. The stock’s fifty day moving average is $6.59 and its two-hundred day moving average is $7.04. The company has a market capitalization of $981.48 million, a P/E ratio of 82.46 and a beta of 2.20. Sweetgreen has a 52 week low of $4.49 and a 52 week high of $10.63.

Sweetgreen (NYSE:SG) last issued its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The firm had revenue of $192.66 million for the quarter, compared to the consensus estimate of $194.50 million. During the same period last year, the firm earned ($0.20) earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts anticipate that Sweetgreen will post -1.03 earnings per share for the current year.

About Sweetgreen

Sweetgreen, Inc operates a fast-casual restaurant chain focused on fresh, plant-forward meals. Its menu includes salads, grain bowls, warm bowls, sides, beverages and seasonal offerings prepared with a focus on whole ingredients and customizable combinations.

The company serves customers through company-operated restaurants and digital channels, including its website and mobile application for ordering, pickup and delivery. Sweetgreen has also developed automated restaurant technology, including its Infinite Kitchen platform, which is designed to support food preparation and restaurant operations.

Sweetgreen was founded in 2007 in Washington, DC, by Jonathan Neman, Nicolas Jammet and Nathaniel Ru.