Sweetgreen (NYSE:SG – Get Free Report) had its target price upped by equities research analysts at Morgan Stanley from $10.00 to $11.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 33.57% from the stock’s previous close.
SG has been the subject of a number of other reports. Piper Sandler upped their price objective on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup boosted their price target on Sweetgreen from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 21st. Oppenheimer raised their price objective on Sweetgreen from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Sweetgreen from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Moderate Buy” and a consensus price target of $15.25.
View Our Latest Analysis on SG
Sweetgreen Price Performance
Shares of NYSE:SG traded up $3.82 during trading on Friday, hitting $16.56. The company had a trading volume of 5,829,444 shares, compared to its average volume of 1,889,074. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -13.82 and a beta of 1.84. The company has a fifty day simple moving average of $11.18 and a two-hundred day simple moving average of $11.35. Sweetgreen has a one year low of $6.10 and a one year high of $17.20.
Sweetgreen (NYSE:SG – Get Free Report) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Sweetgreen had a negative net margin of 24.60% and a negative return on equity of 25.18%. The business had revenue of $153.00 million for the quarter, compared to analysts’ expectations of $152.04 million. During the same quarter in the previous year, the firm earned ($0.44) EPS. Sweetgreen’s revenue was up 29.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sweetgreen will post -0.86 earnings per share for the current year.
Insider Activity
In related news, insider Adrienne Gemperle sold 4,286 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $12.32, for a total value of $52,803.52. Following the transaction, the insider now directly owns 139,693 shares of the company’s stock, valued at approximately $1,721,017.76. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Adrienne Gemperle sold 4,286 shares of Sweetgreen stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $12.32, for a total transaction of $52,803.52. Following the completion of the transaction, the insider now directly owns 139,693 shares of the company’s stock, valued at approximately $1,721,017.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 5,000 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $10.47, for a total transaction of $52,350.00. Following the sale, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $21,987,000. The disclosure for this sale can be found here. Insiders have sold a total of 59,013 shares of company stock worth $689,693 over the last 90 days. 22.03% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Sweetgreen
Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in Sweetgreen by 0.6% in the 3rd quarter. FMR LLC now owns 14,810,112 shares of the company’s stock valued at $174,019,000 after purchasing an additional 84,375 shares during the last quarter. Baillie Gifford & Co. raised its position in shares of Sweetgreen by 31.9% in the third quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after buying an additional 2,907,749 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Sweetgreen by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock worth $94,361,000 after buying an additional 224,522 shares in the last quarter. BlackRock Inc. boosted its position in Sweetgreen by 13.2% during the second quarter. BlackRock Inc. now owns 6,217,233 shares of the company’s stock worth $79,705,000 after acquiring an additional 723,876 shares during the last quarter. Finally, State Street Corp grew its stake in Sweetgreen by 10.9% during the 2nd quarter. State Street Corp now owns 1,738,795 shares of the company’s stock valued at $22,291,000 after acquiring an additional 171,213 shares in the last quarter. Hedge funds and other institutional investors own 79.21% of the company’s stock.
Sweetgreen Company Profile
Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.
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