Sweetgreen (NYSE:SG) Stock Price Expected to Rise, DA Davidson Analyst Says

Sweetgreen (NYSE:SG) had its target price boosted by DA Davidson from $5.50 to $7.00 in a report released on Monday, Marketbeat.com reports. The firm currently has a “neutral” rating on the stock. DA Davidson’s price objective suggests a potential upside of 3.18% from the stock’s current price.

SG has been the subject of several other research reports. Morgan Stanley reduced their price target on shares of Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Weiss Ratings restated a “sell (e+)” rating on shares of Sweetgreen in a research report on Friday, March 27th. UBS Group increased their price objective on shares of Sweetgreen from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Friday. BNP Paribas Exane boosted their target price on Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a report on Friday. Finally, Citizens Jmp assumed coverage on Sweetgreen in a report on Monday, March 30th. They issued a “mkt underperform” rating and a $4.50 price target for the company. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.60.

Sweetgreen Stock Down 3.1%

NYSE SG traded down $0.22 during trading hours on Monday, hitting $6.78. 1,306,813 shares of the company were exchanged, compared to its average volume of 4,254,479. The stock has a market cap of $805.94 million, a PE ratio of 55.65 and a beta of 2.03. Sweetgreen has a 52 week low of $4.49 and a 52 week high of $16.70. The stock has a 50-day moving average price of $5.91 and a 200 day moving average price of $6.36.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $161.52 million during the quarter, compared to analysts’ expectations of $163.95 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 35.14%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) EPS. As a group, sell-side analysts anticipate that Sweetgreen will post -0.75 earnings per share for the current year.

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet purchased 4,428 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were acquired at an average price of $5.71 per share, with a total value of $25,283.88. Following the purchase, the insider directly owned 22,543 shares in the company, valued at approximately $128,720.53. This trade represents a 24.44% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average price of $5.69 per share, with a total value of $3,383,006.57. Following the completion of the acquisition, the insider owned 11,900,255 shares in the company, valued at approximately $67,712,450.95. This trade represents a 5.26% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 19.78% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Sweetgreen by 22.4% during the first quarter. Royal Bank of Canada now owns 291,477 shares of the company’s stock valued at $7,292,000 after acquiring an additional 53,427 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Sweetgreen by 6.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,572 shares of the company’s stock valued at $1,516,000 after purchasing an additional 3,553 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Sweetgreen in the second quarter valued at approximately $197,000. Qube Research & Technologies Ltd purchased a new position in Sweetgreen during the 2nd quarter valued at about $538,000. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Sweetgreen by 121.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 680,255 shares of the company’s stock valued at $10,122,000 after acquiring an additional 373,350 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

About Sweetgreen

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.