Sweetgreen, Inc. (NYSE:SG) Given Average Rating of “Moderate Buy” by Analysts

Sweetgreen, Inc. (NYSE:SG) has been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $34.00.

Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their target price on shares of Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, June 14th. The Goldman Sachs Group began coverage on shares of Sweetgreen in a report on Thursday, June 13th. They set a “buy” rating and a $39.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Finally, Citigroup lifted their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th.

Insiders Place Their Bets

In other Sweetgreen news, CEO Jonathan Neman sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $30.50, for a total value of $4,575,000.00. Following the completion of the sale, the chief executive officer now owns 2,100,000 shares in the company, valued at $64,050,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Mitch Reback sold 8,837 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $31.98, for a total value of $282,607.26. Following the completion of the sale, the chief financial officer now owns 388,337 shares of the company’s stock, valued at $12,419,017.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 150,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the transaction, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $64,050,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,645 shares of company stock valued at $5,068,315. 21.52% of the stock is currently owned by corporate insiders.

Institutional Trading of Sweetgreen

Large investors have recently bought and sold shares of the company. Quest Partners LLC bought a new stake in shares of Sweetgreen during the 2nd quarter valued at $76,000. Triumph Capital Management purchased a new position in Sweetgreen during the 4th quarter valued at about $126,000. Handelsbanken Fonder AB bought a new stake in Sweetgreen during the fourth quarter worth about $137,000. Versor Investments LP purchased a new stake in Sweetgreen in the second quarter worth about $217,000. Finally, Perigon Wealth Management LLC bought a new position in shares of Sweetgreen during the first quarter valued at approximately $223,000. 95.75% of the stock is owned by institutional investors.

Sweetgreen Trading Up 8.5 %

Shares of Sweetgreen stock opened at $36.78 on Friday. The company has a market cap of $4.17 billion, a P/E ratio of -39.55 and a beta of 2.30. The business has a 50-day moving average price of $28.49 and a two-hundred day moving average price of $24.01. Sweetgreen has a 1-year low of $8.64 and a 1-year high of $36.96.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.20%. The business’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.20) EPS. Equities research analysts forecast that Sweetgreen will post -0.73 EPS for the current fiscal year.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.