Sweetgreen (NYSE:SG) Price Target Raised to $7.00

Sweetgreen (NYSE:SG) had its price target increased by Barclays from $5.00 to $7.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other analysts also recently issued research reports about the stock. Oppenheimer set a $10.00 target price on shares of Sweetgreen in a research report on Friday, November 7th. Sanford C. Bernstein set a $7.00 target price on Sweetgreen in a research note on Wednesday. The Goldman Sachs Group downgraded Sweetgreen from a “buy” rating to a “sell” rating and set a $5.00 price target on the stock. in a research note on Friday, November 7th. Citigroup restated a “buy” rating on shares of Sweetgreen in a research note on Wednesday, November 12th. Finally, Bank of America reiterated a “neutral” rating and issued a $9.50 price target (down previously from $18.00) on shares of Sweetgreen in a report on Monday, October 6th. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.43.

Sweetgreen Price Performance

Sweetgreen stock opened at $7.84 on Wednesday. Sweetgreen has a 1-year low of $5.14 and a 1-year high of $35.16. The business has a fifty day moving average price of $6.63 and a 200-day moving average price of $8.98. The stock has a market capitalization of $928.38 million, a price-to-earnings ratio of -8.09 and a beta of 1.93.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Friday, November 7th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. The business had revenue of $172.39 million during the quarter, compared to analysts’ expectations of $179.29 million. During the same quarter last year, the business posted ($0.18) earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insider Activity at Sweetgreen

In other news, CEO Jonathan Neman purchased 179,800 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The shares were bought at an average price of $5.56 per share, for a total transaction of $999,688.00. Following the completion of the transaction, the chief executive officer owned 179,800 shares in the company, valued at $999,688. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicolas Jammet acquired 18,115 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $5.51 per share, with a total value of $99,813.65. Following the transaction, the insider owned 18,115 shares of the company’s stock, valued at approximately $99,813.65. This trade represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 19.78% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the business. Glass Jacobson Investment Advisors llc purchased a new position in Sweetgreen during the second quarter worth approximately $30,000. Larson Financial Group LLC grew its stake in Sweetgreen by 165.8% in the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after acquiring an additional 2,349 shares during the period. Nisa Investment Advisors LLC increased 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 acquiring an additional 1,055 shares in the last quarter. Bogart Wealth LLC raised its position in Sweetgreen by 1,150.0% during the third quarter. Bogart Wealth LLC now owns 5,000 shares of the company’s stock worth $40,000 after acquiring an additional 4,600 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings 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 purchasing an additional 2,127 shares in the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Company Profile

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.