Sweetgreen, Inc. (NYSE:SG) Receives Average Recommendation of “Hold” from Brokerages

Sweetgreen, Inc. (NYSE:SG) has received a consensus recommendation of “Hold” from the seventeen research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.2214.

Several research firms have weighed in on SG. DA Davidson initiated coverage on Sweetgreen in a report on Friday. They set a “neutral” rating and a $5.50 target price on the stock. The Goldman Sachs Group upped their price target on Sweetgreen from $5.00 to $5.60 and gave the stock a “sell” rating in a research note on Wednesday, January 28th. UBS Group lowered their price objective on Sweetgreen from $7.50 to $6.50 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Royal Bank Of Canada cut their price objective on Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. boosted their target price on Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a report on Tuesday, January 20th.

Sweetgreen Stock Down 1.9%

Shares of SG opened at $5.64 on Monday. The firm has a market cap of $667.61 million, a price-to-earnings ratio of -4.95 and a beta of 1.93. The company’s fifty day moving average is $6.39 and its 200-day moving average is $7.08. Sweetgreen has a 12 month low of $4.99 and a 12 month high of $27.15.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.11). The business had revenue of $155.19 million during the quarter, compared to analyst estimates of $159.59 million. Sweetgreen had a negative net margin of 19.73% and a negative return on equity of 32.26%. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.25) EPS. As a group, research analysts predict that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Institutional Trading of Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings in shares of Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock worth $30,000 after buying an additional 2,349 shares during the period. Bogart Wealth LLC lifted its position in Sweetgreen by 1,150.0% during the 3rd 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 last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in Sweetgreen by 312.3% during the 2nd 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. CWM LLC boosted its holdings in Sweetgreen by 212.2% during the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock valued at $50,000 after acquiring an additional 4,984 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Sweetgreen by 281.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock valued at $53,000 after acquiring an additional 5,839 shares during the period. 95.75% of the stock is currently owned by institutional investors and hedge funds.

About Sweetgreen

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.