Sweetgreen, Inc. (NYSE:SG) Receives $10.83 Consensus PT from Brokerages

Sweetgreen, Inc. (NYSE:SG) has received a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $10.8286.

Several analysts have weighed in on the stock. Oppenheimer set a $10.00 price target on shares of Sweetgreen in a research note on Friday, November 7th. JPMorgan Chase & Co. increased their target price on Sweetgreen from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 20th. Sanford C. Bernstein set a $7.00 price target on Sweetgreen in a research note on Wednesday, January 7th. Morgan Stanley lowered their price objective on Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 20th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $8.00 price objective on shares of Sweetgreen in a research note on Tuesday, December 9th.

Institutional Trading of Sweetgreen

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

Sweetgreen Trading Down 0.1%

Shares of NYSE SG opened at $5.13 on Thursday. The stock has a fifty day simple moving average of $6.79 and a two-hundred day simple moving average of $7.65. Sweetgreen has a 1-year low of $5.04 and a 1-year high of $27.49. The firm has a market cap of $606.65 million, a price-to-earnings ratio of -5.28 and a beta of 1.92.

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.