Sweetgreen, Inc. (NYSE:SG) Given Average Rating of “Hold” by Brokerages

Shares of Sweetgreen, Inc. (NYSE:SG) have earned an average rating of “Hold” from the fifteen analysts that are currently covering the company, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $17.6923.

Several brokerages have weighed in on SG. Morgan Stanley dropped their price objective on shares of Sweetgreen from $22.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, July 14th. JPMorgan Chase & Co. dropped their price target on shares of Sweetgreen from $20.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, June 25th. The Goldman Sachs Group cut their price target on Sweetgreen from $23.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, June 4th. William Blair reissued an “outperform” rating on shares of Sweetgreen in a research report on Friday, September 5th. Finally, Piper Sandler dropped their price objective on Sweetgreen from $20.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 8th.

Sweetgreen Price Performance

Shares of Sweetgreen stock opened at $8.51 on Monday. The business has a fifty day simple moving average of $11.21 and a two-hundred day simple moving average of $15.81. Sweetgreen has a 1 year low of $8.11 and a 1 year high of $45.12. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -10.13 and a beta of 2.01.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 7th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.08). The firm had revenue of $185.58 million for the quarter, compared to analyst estimates of $193.47 million. Sweetgreen had a negative return on equity of 22.21% and a negative net margin of 14.29%.The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.13) EPS. Sweetgreen has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Mitch Reback sold 11,530 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $9.19, for a total value of $105,960.70. Following the completion of the transaction, the chief financial officer owned 322,891 shares of the company’s stock, valued at $2,967,368.29. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 19.78% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently modified their holdings of the business. Glass Jacobson Investment Advisors llc bought a new stake in shares of Sweetgreen during the 2nd quarter worth $30,000. Nisa Investment Advisors LLC raised its stake in Sweetgreen by 98.2% during the second quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after acquiring an additional 1,055 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Sweetgreen by 312.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after acquiring an additional 2,127 shares during the last quarter. Spire Wealth Management lifted its holdings in shares of Sweetgreen by 47.1% in the first quarter. Spire Wealth Management now owns 1,983 shares of the company’s stock worth $50,000 after acquiring an additional 635 shares during the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Sweetgreen in the 1st quarter valued at approximately $71,000. Institutional investors own 95.75% of the company’s stock.

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.