Sweetgreen (NYSE:SG – Free Report) had its target price raised by JPMorgan Chase & Co. from $32.00 to $37.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.
A number of other brokerages have also recently issued reports on SG. Royal Bank of Canada lifted their price objective on Sweetgreen from $35.00 to $45.00 and gave the company an outperform rating in a research note on Friday, June 7th. Piper Sandler upped their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an overweight rating in a research note on Friday, March 1st. Morgan Stanley raised their price objective on shares of Sweetgreen from $16.00 to $17.00 and gave the company an underweight rating in a research note on Friday, May 10th. The Goldman Sachs Group assumed coverage on shares of Sweetgreen in a research note on Thursday. They issued a buy rating and a $39.00 target price on the stock. Finally, Oppenheimer increased their price target on shares of Sweetgreen from $17.00 to $34.00 and gave the company an outperform rating in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $29.67.
Check Out Our Latest Research Report on Sweetgreen
Sweetgreen Price Performance
Shares of NYSE SG opened at $31.54 on Friday. Sweetgreen has a 1 year low of $8.64 and a 1 year high of $36.72. The firm has a 50-day moving average of $27.42 and a 200 day moving average of $18.74.
Sweetgreen (NYSE:SG – Get Free Report) last announced its earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The business had revenue of $157.85 million for the quarter, compared to the consensus estimate of $152.02 million. During the same period in the prior year, the business posted ($0.29) EPS. Sweetgreen’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities analysts forecast that Sweetgreen will post -0.73 EPS for the current year.
Insider Activity
In related news, insider Adrienne Gemperle sold 3,889 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $31.35, for a total value of $121,920.15. Following the sale, the insider now owns 125,518 shares in the company, valued at $3,934,989.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sweetgreen news, CTO Wouleta Ayele sold 2,748 shares of the business’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $31.35, for a total transaction of $86,149.80. Following the completion of the sale, the chief technology officer now directly owns 147,480 shares in the company, valued at approximately $4,623,498. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adrienne Gemperle sold 3,889 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $31.35, for a total transaction of $121,920.15. Following the sale, the insider now directly owns 125,518 shares of the company’s stock, valued at approximately $3,934,989.30. The disclosure for this sale can be found here. Insiders have sold a total of 440,692 shares of company stock valued at $13,738,038 in the last 90 days. 21.52% of the stock is currently owned by insiders.
Institutional Trading of Sweetgreen
Large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of Sweetgreen by 0.6% during the 3rd quarter. FMR LLC now owns 14,810,112 shares of the company’s stock worth $174,019,000 after acquiring an additional 84,375 shares during the last quarter. Baillie Gifford & Co. raised its holdings in Sweetgreen by 31.9% in the 3rd quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock worth $141,117,000 after purchasing an additional 2,907,749 shares during the period. Vanguard Group Inc. lifted its position in Sweetgreen by 0.8% during the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after purchasing an additional 70,395 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Sweetgreen by 38.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after purchasing an additional 476,998 shares during the period. Finally, Invesco Ltd. increased its position in Sweetgreen by 1,435.2% in the third quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock worth $19,679,000 after buying an additional 1,565,700 shares in the last quarter. 95.75% of the stock is currently owned by institutional investors.
Sweetgreen Company Profile
Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.
Further Reading
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Source: defenseworld.net
