Sweetgreen, Inc. Expected to Earn Q2 2024 Earnings of ($0.10) Per Share (NYSE:SG)

Sweetgreen, Inc. (NYSE:SG) – Research analysts at William Blair dropped their Q2 2024 earnings estimates for Sweetgreen in a report issued on Wednesday, April 24th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of ($0.10) for the quarter, down from their prior forecast of ($0.09). The consensus estimate for Sweetgreen’s current full-year earnings is ($0.71) per share.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The business had revenue of $153.00 million for the quarter, compared to the consensus estimate of $152.04 million. Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.44) EPS.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley lifted their target price on shares of Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research note on Friday, April 12th. Royal Bank of Canada lifted their target price on shares of Sweetgreen from $13.00 to $20.00 and gave the company an “outperform” rating in a research note on Monday, March 4th. TD Cowen reiterated a “hold” rating and issued a $17.00 target price on shares of Sweetgreen in a research note on Wednesday, April 10th. Oppenheimer lifted their target price on shares of Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Finally, Citigroup lifted their target price on shares of Sweetgreen from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 21st. 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 company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.50.

Sweetgreen Stock Up 7.7 %

Shares of SG opened at $24.52 on Monday. Sweetgreen has a 12 month low of $7.45 and a 12 month high of $26.45. The company has a 50-day moving average price of $20.41 and a two-hundred day moving average price of $14.07. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of -24.52 and a beta of 2.20.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 29,475 shares of Sweetgreen stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $21.01, for a total transaction of $619,269.75. Following the completion of the sale, the chief financial officer now owns 405,584 shares of the company’s stock, valued at approximately $8,521,319.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Sweetgreen news, CFO Mitch Reback sold 29,475 shares of Sweetgreen stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $21.01, for a total transaction of $619,269.75. Following the completion of the sale, the chief financial officer now owns 405,584 shares of the company’s stock, valued at approximately $8,521,319.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Neman sold 58,067 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.36, for a total transaction of $949,976.12. Following the completion of the transaction, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,555 shares of company stock valued at $2,214,389. Company insiders own 22.03% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of 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 buying an additional 84,375 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Sweetgreen by 31.9% in the 3rd 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 period. Vanguard Group Inc. grew its holdings in shares of Sweetgreen by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after buying an additional 224,522 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Sweetgreen by 38.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after buying an additional 476,998 shares during the period. Finally, Invesco Ltd. lifted its position in Sweetgreen by 1,435.2% in the 3rd quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock valued at $19,679,000 after acquiring an additional 1,565,700 shares in the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

About Sweetgreen

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.