Sweetgreen (NYSE:SG) Price Target Raised to $7.00 at Barclays

Sweetgreen (NYSE:SG) had its target price hoisted by Barclays from $5.00 to $7.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other equities analysts also recently issued research reports about the company. Citigroup reaffirmed a “buy” rating on shares of Sweetgreen in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Sweetgreen in a research note on Monday, December 29th. Sanford C. Bernstein set a $7.00 price target on shares of Sweetgreen in a report on Wednesday. UBS Group lowered shares of Sweetgreen from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a report on Tuesday. Finally, Oppenheimer set a $10.00 target price on shares of Sweetgreen in a research note on Friday, November 7th. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Sweetgreen has a consensus rating of “Hold” and an average target price of $11.43.

Sweetgreen Trading Down 0.2%

Shares of NYSE:SG opened at $7.30 on Wednesday. Sweetgreen has a 12 month low of $5.14 and a 12 month high of $35.16. The company has a market capitalization of $863.51 million, a price-to-earnings ratio of -7.52 and a beta of 1.93. The firm’s 50-day moving average is $6.57 and its 200 day moving average is $9.02.

Sweetgreen (NYSE:SG) last announced its earnings results on Friday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13). The business had revenue of $172.39 million for the quarter, compared to analysts’ expectations 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 last year, the firm earned ($0.18) EPS. As a group, equities analysts forecast that Sweetgreen will post -0.74 EPS for the current fiscal year.

Insider Activity

In other Sweetgreen news, insider Nicolas Jammet acquired 18,115 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average cost of $5.51 per share, with a total value of $99,813.65. Following the completion of the acquisition, the insider directly owned 18,115 shares in the company, valued at $99,813.65. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Neman bought 179,800 shares of the stock in a transaction on Wednesday, November 12th. The shares were bought at an average price of $5.56 per share, with a total value of $999,688.00. Following the acquisition, the chief executive officer owned 179,800 shares of the company’s stock, valued at $999,688. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 19.78% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Glass Jacobson Investment Advisors llc purchased a new stake in shares of Sweetgreen during the 2nd quarter worth $30,000. Larson Financial Group LLC raised its holdings in Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after purchasing an additional 2,349 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Sweetgreen by 98.2% during the second 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. Bogart Wealth LLC boosted its holdings in shares of Sweetgreen by 1,150.0% in the 3rd quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock valued at $40,000 after buying an additional 4,600 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Sweetgreen by 312.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock worth $42,000 after buying an additional 2,127 shares during the last quarter. 95.75% of the stock is owned by institutional investors.

Sweetgreen Company Profile

Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.

Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.