Sweetgreen (NYSE:SG) Given “Neutral” Rating at Piper Sandler

Piper Sandler restated their neutral rating on shares of Sweetgreen (NYSE:SG) in a research report report published on Monday, MarketBeat reports. The brokerage currently has a $39.00 target price on the stock, up from their prior target price of $33.00.

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada lifted their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an outperform rating in a research note on Friday, June 7th. Bank of America dropped their target price on Sweetgreen from $36.00 to $33.00 and set a buy rating on the stock in a report on Wednesday, July 17th. TD Cowen lifted their price target on Sweetgreen from $26.00 to $31.00 and gave the stock a hold rating in a report on Thursday, June 13th. The Goldman Sachs Group initiated coverage on Sweetgreen in a research report on Thursday, June 13th. They set a buy rating and a $39.00 price objective for the company. Finally, Morgan Stanley raised their target price on Sweetgreen from $25.00 to $27.00 and gave the stock an equal weight rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Sweetgreen has an average rating of Moderate Buy and an average price target of $37.00.

Sweetgreen Stock Up 1.7 %

NYSE:SG opened at $35.06 on Monday. Sweetgreen has a 52 week low of $8.64 and a 52 week high of $37.88. The company has a fifty day simple moving average of $28.67 and a two-hundred day simple moving average of $24.85. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -37.70 and a beta of 2.30.

Sweetgreen (NYSE:SG) last released its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. During the same quarter last year, the business posted ($0.20) earnings per share. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, analysts expect that Sweetgreen will post -0.75 EPS for the current year.

Insider Transactions at Sweetgreen

In related news, insider Adrienne Gemperle sold 3,868 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the transaction, the insider now owns 114,842 shares of the company’s stock, valued at $4,169,913.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Mitch Reback sold 9,497 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $33.40, for a total transaction of $317,199.80. Following the completion of the transaction, the chief financial officer now owns 369,684 shares of the company’s stock, valued at $12,347,445.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the transaction, the insider now directly owns 114,842 shares in the company, valued at approximately $4,169,913.02. The disclosure for this sale can be found here. Insiders sold a total of 181,577 shares of company stock worth $5,678,557 over the last ninety days. 21.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors have recently added to or reduced their stakes in SG. Quest Partners LLC purchased a new stake in Sweetgreen during the 2nd quarter worth $76,000. Triumph Capital Management purchased a new stake in shares of Sweetgreen in the fourth quarter worth about $126,000. Handelsbanken Fonder AB purchased a new stake in shares of Sweetgreen during the 4th quarter valued at about $137,000. Versor Investments LP acquired a new position in Sweetgreen during the 2nd quarter worth approximately $217,000. Finally, Perigon Wealth Management LLC purchased a new position in Sweetgreen in the 1st quarter worth approximately $223,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.