TD Cowen Has Lowered Expectations for Sweetgreen (NYSE:SG) Stock Price

Sweetgreen (NYSE:SG) had its target price reduced by equities researchers at TD Cowen from $8.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential downside of 15.41% from the company’s current price.

Other research analysts have also recently issued reports about the stock. BNP Paribas Exane boosted their target price on shares of Sweetgreen from $4.50 to $5.00 and gave the stock an “underperform” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a report on Saturday, May 23rd. Citigroup lifted their price target on shares of Sweetgreen from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Oppenheimer boosted their price objective on shares of Sweetgreen from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings upgraded Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $7.54.

Sweetgreen Stock Performance

SG stock opened at $5.91 on Friday. Sweetgreen has a 1 year low of $4.49 and a 1 year high of $12.80. The firm has a market cap of $702.40 million, a P/E ratio of 49.26 and a beta of 2.19. The stock has a 50-day simple moving average of $7.75 and a 200-day simple moving average of $6.86.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The company had revenue of $192.66 million for the quarter, compared to analyst estimates of $194.50 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The business’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the firm posted ($0.20) earnings per share. On average, equities research analysts predict that Sweetgreen will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Woodson Capital Management LP increased its holdings in shares of Sweetgreen by 152.6% in the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock valued at $40,560,000 after acquiring an additional 3,625,000 shares during the last quarter. Marshall Wace LLP boosted its holdings in Sweetgreen by 1,428.8% in the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock worth $31,313,000 after purchasing an additional 3,667,306 shares during the period. Federated Hermes Inc. boosted its holdings in Sweetgreen by 366.8% in the fourth quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock worth $17,900,000 after purchasing an additional 2,080,628 shares during the period. Geode Capital Management LLC lifted its position in shares of Sweetgreen by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company’s stock worth $16,589,000 after buying an additional 16,281 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Sweetgreen by 35.6% in the 4th quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock valued at $15,520,000 after buying an additional 603,029 shares during the period. 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.