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

Shares of Sweetgreen, Inc. (NYSE:SG) have earned a consensus rating of “Hold” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $11.4286.

SG has been the topic of several recent analyst reports. Zacks Research raised shares of Sweetgreen from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sweetgreen in a research report on Monday, December 29th. Morgan Stanley set a $10.00 price target on Sweetgreen in a research note on Tuesday, October 21st. UBS Group lowered Sweetgreen from a “buy” rating to a “neutral” rating and set a $7.50 price objective for the company. in a report on Tuesday, January 6th. Finally, Oppenheimer set a $10.00 target price on Sweetgreen in a research report on Friday, November 7th.

Insider Activity

In related news, insider Nicolas Jammet bought 18,115 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were purchased at an average cost of $5.51 per share, with a total value of $99,813.65. Following the completion of the transaction, the insider directly owned 18,115 shares of the company’s stock, valued at approximately $99,813.65. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Neman purchased 179,800 shares of Sweetgreen stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost 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 approximately $999,688. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders own 19.78% of the company’s stock.

Institutional Trading of Sweetgreen

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

Sweetgreen Stock Performance

NYSE:SG opened at $7.97 on Friday. The stock has a market cap of $943.41 million, a price-to-earnings ratio of -8.22 and a beta of 1.93. Sweetgreen has a one year low of $5.14 and a one year high of $35.16. The business’s 50-day simple moving average is $6.79 and its 200 day simple moving average is $8.74.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data 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 return on equity of 25.67% and a negative net margin of 16.55%.Sweetgreen’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, equities research analysts predict that Sweetgreen will post -0.74 EPS for the current year.

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.