Sweetgreen (NYSE:SG) Now Covered by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of Sweetgreen (NYSE:SG) in a report published on Monday, MarketBeat reports. The firm issued a peer perform rating on the stock.

A number of other equities analysts have also recently weighed in on SG. Weiss Ratings restated a “sell (e+)” rating on shares of Sweetgreen in a report on Monday, December 29th. The Goldman Sachs Group lifted their price objective on shares of Sweetgreen from $5.00 to $5.60 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Wells Fargo & Company cut shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $10.00 to $7.00 in a research report on Wednesday, December 17th. Oppenheimer lowered their price target on shares of Sweetgreen from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, February 27th. Finally, Sanford C. Bernstein set a $7.00 price target on shares of Sweetgreen in a research note on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Sweetgreen currently has a consensus rating of “Hold” and a consensus target price of $8.22.

Sweetgreen Price Performance

NYSE:SG opened at $6.01 on Monday. The business’s 50-day moving average is $6.38 and its two-hundred day moving average is $7.06. The firm has a market capitalization of $710.81 million, a PE ratio of -5.27 and a beta of 1.93. Sweetgreen has a 12 month low of $4.99 and a 12 month high of $27.15.

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

Insider Transactions at Sweetgreen

In related news, insider Nicolas Jammet acquired 4,428 shares of Sweetgreen stock in a transaction on Thursday, March 5th. The shares were purchased at an average cost of $5.71 per share, for a total transaction of $25,283.88. Following the purchase, the insider directly owned 22,543 shares of the company’s stock, valued at $128,720.53. The trade was a 24.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC lifted its position in shares of Sweetgreen by 165.8% during 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 during the last quarter. Bogart Wealth LLC increased its holdings in 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 buying an additional 4,600 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised 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. CWM LLC raised its stake 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 buying an additional 4,984 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Sweetgreen by 281.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after buying an additional 5,839 shares during the last quarter. Institutional investors and hedge funds own 95.75% of the company’s stock.

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.