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

Sweetgreen, Inc. (NYSE:SG) has been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $29.08.

SG has been the topic of several analyst reports. Morgan Stanley dropped their target price on shares of Sweetgreen from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. Citigroup decreased their price objective on shares of Sweetgreen from $43.00 to $39.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on shares of Sweetgreen from $23.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, June 4th. JPMorgan Chase & Co. decreased their price objective on shares of Sweetgreen from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, May 12th. Finally, Oppenheimer decreased their price objective on shares of Sweetgreen from $35.00 to $29.00 and set an “outperform” rating for the company in a report on Friday, May 9th.

Insider Buying and Selling

In other Sweetgreen news, Director Clifford Burrows acquired 19,200 shares of the stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $13.11 per share, for a total transaction of $251,712.00. Following the completion of the transaction, the director now directly owns 19,200 shares of the company’s stock, valued at $251,712. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mitch Reback sold 10,088 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $15.23, for a total transaction of $153,640.24. Following the transaction, the chief financial officer now owns 334,421 shares of the company’s stock, valued at $5,093,231.83. This trade represents a 2.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,014 shares of company stock worth $736,283. 21.52% of the stock is owned by insiders.

Institutional Investors Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its stake in shares of Sweetgreen by 4.9% in the first quarter. Rhumbline Advisers now owns 144,722 shares of the company’s stock valued at $3,621,000 after acquiring an additional 6,720 shares during the period. Intech Investment Management LLC increased its stake in Sweetgreen by 38.1% in the 1st quarter. Intech Investment Management LLC now owns 75,756 shares of the company’s stock worth $1,895,000 after buying an additional 20,885 shares during the period. SCS Capital Management LLC bought a new stake in Sweetgreen during the 1st quarter valued at about $374,000. Rip Road Capital Partners LP bought a new stake in Sweetgreen during the 1st quarter valued at about $2,077,000. Finally, Sandler Capital Management bought a new stake in Sweetgreen during the 1st quarter valued at about $3,243,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Trading Down 3.4%

Shares of SG opened at $13.10 on Friday. The firm’s 50-day moving average price is $16.89 and its 200-day moving average price is $25.68. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -16.79 and a beta of 2.06. Sweetgreen has a 1-year low of $12.37 and a 1-year high of $45.12.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.82%. The business had revenue of $166.30 million for the quarter, compared to analyst estimates of $164.68 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. Sweetgreen’s quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that Sweetgreen will post -0.74 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.