JPMorgan Chase & Co. Issues Positive Forecast for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG) had its target price hoisted by JPMorgan Chase & Co. from $6.00 to $8.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sweetgreen in a report on Monday, December 29th. Sanford C. Bernstein set a $7.00 price target on shares of Sweetgreen in a research report on Wednesday, January 7th. Morgan Stanley set a $10.00 price target on shares of Sweetgreen in a report on Tuesday, October 21st. The Goldman Sachs Group downgraded Sweetgreen from a “buy” rating to a “sell” rating and set a $5.00 price objective on the stock. in a research report on Friday, November 7th. Finally, UBS Group cut Sweetgreen from a “buy” rating to a “neutral” rating and set a $7.50 target price for the company. in a research report on Tuesday, January 6th. 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, the company has a consensus rating of “Hold” and an average target price of $10.79.

Sweetgreen Stock Performance

NYSE:SG opened at $7.00 on Tuesday. The business’s fifty day moving average is $6.88 and its 200 day moving average is $8.59. The firm has a market cap of $828.00 million, a price-to-earnings ratio of -7.21 and a beta of 1.93. Sweetgreen has a 52-week low of $5.14 and a 52-week high of $35.16.

Sweetgreen (NYSE:SG) last issued its earnings results on Friday, November 7th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.13). Sweetgreen had a negative return on equity of 25.67% and a negative net margin of 16.55%.The company had revenue of $172.39 million during the quarter, compared to the consensus estimate of $179.29 million. During the same quarter in the prior year, the business earned ($0.18) EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that Sweetgreen will post -0.74 EPS for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In related news, CEO Jonathan Neman acquired 179,800 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average price of $5.56 per share, with a total value of $999,688.00. Following the completion of the purchase, the chief executive officer directly owned 179,800 shares of the company’s stock, valued at $999,688. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicolas Jammet acquired 18,115 shares of the stock in a transaction dated Wednesday, November 12th. The shares were bought at an average cost of $5.51 per share, for a total transaction of $99,813.65. Following the completion of the transaction, the insider owned 18,115 shares in the company, valued at approximately $99,813.65. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Institutional investors and hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas boosted its stake in shares of Sweetgreen by 5.8% in the second quarter. Teacher Retirement System of Texas now owns 15,981 shares of the company’s stock worth $238,000 after acquiring an additional 877 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Sweetgreen by 98.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,129 shares of the company’s stock worth $32,000 after purchasing an additional 1,055 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Sweetgreen by 5.5% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company’s stock worth $345,000 after purchasing an additional 1,209 shares during the period. Northwest & Ethical Investments L.P. boosted its stake in Sweetgreen by 4.9% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 39,912 shares of the company’s stock worth $594,000 after purchasing an additional 1,870 shares during the period. Finally, Glass Jacobson Investment Advisors llc purchased a new stake in Sweetgreen during the 2nd quarter valued at approximately $30,000. 95.75% of the stock is owned by institutional investors.

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.