Sweetgreen, Inc. (NYSE:SG) Stock Has Average Target Price of $7.66 According to Analysts

Sweetgreen, Inc. (NYSE:SG) has earned a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.66.

Several equities research analysts recently commented on SG shares. Weiss Ratings cut Sweetgreen from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Wells Fargo & Company raised shares of Sweetgreen from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $6.00 to $11.00 in a research report on Monday, September 28th. Citigroup dropped their price objective on shares of Sweetgreen from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 7th. DA Davidson dropped their price objective on shares of Sweetgreen from $7.00 to $5.50 and set a “neutral” rating for the company in a report on Monday, August 10th. Finally, Royal Bank Of Canada lifted their target price on shares of Sweetgreen from $6.50 to $11.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 29th.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CFO Jamie McConnell sold 15,033 shares of Sweetgreen stock in a transaction dated Monday, August 17th. The shares were 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 directly owned 210,489 shares in the company, valued at $1,307,136.69. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a legal 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 that occurred on Monday, August 17th. The stock was sold at an average price of $6.21, for a total transaction of $29,863.89. Following the transaction, the chief operating officer directly owned 207,076 shares of the company’s stock, valued at $1,285,941.96. The trade was a 2.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 18.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP acquired a new stake in shares of Sweetgreen in the second quarter valued at $4,557,000. Bank of New York Mellon Corp acquired a new position in shares of Sweetgreen in the second quarter valued at approximately $2,792,000. Granahan Investment Management LLC purchased a new stake in Sweetgreen during the 1st quarter worth approximately $1,472,000. Quantinno Capital Management LP boosted its position in Sweetgreen by 495.3% in the 1st quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock valued at $1,006,000 after buying an additional 161,209 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Sweetgreen in the fourth quarter valued at $674,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Sweetgreen Stock Performance

Shares of SG stock opened at $10.14 on Tuesday. The stock’s fifty day moving average is $7.67 and its two-hundred day moving average is $7.52. The firm has a market capitalization of $1.21 billion, a P/E ratio of 101.44 and a beta of 2.16. Sweetgreen has a fifty-two week low of $4.49 and a fifty-two week high of $10.77.

Sweetgreen (NYSE:SG) last posted its quarterly 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 negative return on equity of 32.94% and a net margin of 2.01%. The business had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. The business’s revenue was up 3.8% compared to the same quarter last year. On average, equities analysts forecast 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, made-to-order meals. Its menu includes salads, warm grain bowls, protein plates, sides and beverages, with an emphasis on seasonal ingredients, customizable meals and health-conscious dining.

The company serves customers through company-operated restaurants in the United States, as well as digital channels that support online ordering, delivery, pickup and its loyalty program. Sweetgreen also uses technology in restaurant operations, including automated kitchen systems at select locations, to help improve consistency and service efficiency.

Sweetgreen was founded in 2007 by Nicolas Jammet, Jonathan Neman and Nathaniel Ru while they were students at Georgetown University.