Sweetgreen (SG) Scheduled to Post Earnings on Thursday

Sweetgreen (NYSE:SG) will be announcing its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of ($0.20) per share for the quarter. Sweetgreen has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The business had revenue of $153.00 million during 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 company’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.44) earnings per share. On average, analysts expect Sweetgreen to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sweetgreen Stock Up 2.9 %

Shares of NYSE:SG opened at $22.75 on Tuesday. The stock has a market cap of $2.57 billion, a PE ratio of -22.75 and a beta of 2.22. The company’s fifty day moving average is $21.45 and its 200 day moving average is $14.45. Sweetgreen has a 52 week low of $8.64 and a 52 week high of $26.45.

Insider Activity at Sweetgreen

In other 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 transaction of $52,803.52. Following the transaction, the insider now directly owns 139,693 shares of the company’s stock, valued at $1,721,017.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jonathan Neman sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $11.55, for a total value of $57,750.00. Following the sale, the chief executive officer now owns 2,100,000 shares in the company, valued at $24,255,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adrienne Gemperle sold 4,286 shares of the business’s stock in a transaction 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 sale, the insider now owns 139,693 shares of the company’s stock, valued at $1,721,017.76. The disclosure for this sale can be found here. Insiders sold 140,555 shares of company stock valued at $2,214,389 over the last 90 days. Corporate insiders own 21.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SG shares. Oppenheimer raised their target price on Sweetgreen from $17.00 to $34.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Citigroup raised their price target on Sweetgreen from $16.00 to $25.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Morgan Stanley boosted their price objective on shares of Sweetgreen from $11.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, April 12th. Royal Bank of Canada raised their target price on shares of Sweetgreen from $13.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Finally, Piper Sandler boosted their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.00.

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.