Barclays Lowers Sweetgreen (NYSE:SG) Price Target to $5.00

Sweetgreen (NYSE:SG) had its price target cut by analysts at Barclays from $8.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential downside of 3.85% from the company’s previous close.

Several other research firms have also issued reports on SG. UBS Group reduced their target price on Sweetgreen from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Zacks Research cut shares of Sweetgreen from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 14th. TD Cowen decreased their target price on shares of Sweetgreen from $15.00 to $10.00 and set a “hold” rating on the stock in a report on Friday, August 8th. Morgan Stanley set a $10.00 price target on shares of Sweetgreen in a report on Tuesday, October 21st. Finally, Wells Fargo & Company decreased their price objective on shares of Sweetgreen from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, November 7th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.82.

Sweetgreen Stock Down 4.2%

NYSE SG opened at $5.20 on Monday. The firm has a 50-day moving average price of $7.70 and a two-hundred day moving average price of $11.35. Sweetgreen has a 12-month low of $5.14 and a 12-month high of $45.12. The company has a market capitalization of $614.69 million, a P/E ratio of -5.36 and a beta of 1.94.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). The business had revenue of $172.39 million during the quarter, compared to analyst estimates of $179.29 million. Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. Sweetgreen has set its FY 2025 guidance at EPS. Equities analysts expect that Sweetgreen will post -0.74 EPS for the current year.

Insider Buying and Selling

In other Sweetgreen news, CFO Mitch Reback sold 11,530 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $9.19, for a total value of $105,960.70. Following the sale, the chief financial officer owned 322,891 shares in the company, valued at $2,967,368.29. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 19.78% of the stock is currently owned by insiders.

Institutional Trading of Sweetgreen

Several institutional investors have recently modified their holdings of SG. Teacher Retirement System of Texas increased its holdings in Sweetgreen by 5.8% in the second quarter. Teacher Retirement System of Texas now owns 15,981 shares of the company’s stock valued at $238,000 after purchasing an additional 877 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Sweetgreen by 98.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock valued at $32,000 after buying an additional 1,055 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its stake in shares of Sweetgreen by 5.5% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company’s stock valued at $345,000 after buying an additional 1,209 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in shares of Sweetgreen by 70.8% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 4,100 shares of the company’s stock worth $103,000 after acquiring an additional 1,700 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. raised its position in shares of Sweetgreen by 4.9% during the second quarter. Northwest & Ethical Investments L.P. now owns 39,912 shares of the company’s stock worth $594,000 after acquiring an additional 1,870 shares during the last quarter. Institutional investors 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.