Sweetgreen (NYSE:SG) Given New $15.00 Price Target at Citigroup

Sweetgreen (NYSE:SG) had its price target upped by Citigroup from $13.00 to $15.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

SG has been the topic of several other reports. Morgan Stanley lifted their price objective on shares of Sweetgreen from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 15th. UBS Group increased their target price on Sweetgreen from $6.50 to $11.00 and gave the company a “neutral” rating in a report on Wednesday, October 28th. Oppenheimer raised their target price on Sweetgreen from $8.50 to $14.00 and gave the stock an “outperform” rating in a research report on Friday. KeyCorp lifted their price target on Sweetgreen from $12.00 to $13.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank Of Canada upped their price target on Sweetgreen from $6.50 to $11.00 and gave the company an “outperform” rating in a research report on Tuesday, September 29th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.88.

Sweetgreen Trading Up 3.2%

Shares of SG traded up $0.37 during midday trading on Friday, hitting $11.92. The stock had a trading volume of 12,911,641 shares, compared to its average volume of 4,465,237. The business has a 50-day simple moving average of $8.93 and a two-hundred day simple moving average of $7.31. The firm has a market cap of $1.42 billion, a P/E ratio of 79.50 and a beta of 2.11. Sweetgreen has a fifty-two week low of $4.49 and a fifty-two week high of $12.49.

Sweetgreen (NYSE:SG) last released its quarterly earnings results on Thursday, November 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). The business had revenue of $176.02 million for the quarter, compared to analyst estimates of $170.07 million. Sweetgreen had a net margin of 2.01% and a negative return on equity of 32.94%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.31) earnings per share. On average, analysts expect that Sweetgreen will post -1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jamie McConnell sold 15,033 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $93,354.93. Following the transaction, the chief financial officer directly owned 210,489 shares of the company’s stock, valued at approximately $1,307,136.69. The trade was a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.21, for a total transaction of $29,863.89. Following the completion of the transaction, the chief operating officer owned 207,076 shares in the company, valued at approximately $1,285,941.96. This represents a 2.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 18.19% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP acquired a new position in shares of Sweetgreen in the second quarter worth $4,557,000. Bank of New York Mellon Corp acquired a new stake in Sweetgreen during the second quarter valued at $2,792,000. Granahan Investment Management LLC acquired a new stake in Sweetgreen during the first quarter valued at $1,472,000. Quantinno Capital Management LP boosted its position in Sweetgreen by 495.3% during the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock valued at $1,006,000 after purchasing an additional 161,209 shares during the last quarter. Finally, Ibex Investors LLC grew its stake in Sweetgreen by 5.8% in the third quarter. Ibex Investors LLC now owns 1,188,000 shares of the company’s stock valued at $10,538,000 after purchasing an additional 65,000 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Sweetgreen

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Sweetgreen reported Q3 revenue of $176.0 million, up 2.1% year over year and above the roughly $170 million consensus estimate. Its $0.26-per-share loss was in line with consensus and narrower than the year-earlier loss. Same-store sales fell 6.4%, an improvement from a 9.5% decline a year ago. Sweetgreen Q3 results
• Positive Sentiment: Several firms raised their targets: Oppenheimer and Wells Fargo moved to $14, while KeyCorp raised its target to $13; all maintained bullish ratings. The revisions may bolster confidence following the earnings release. Oppenheimer rating Wells Fargo rating KeyCorp rating
• Neutral Sentiment: TD Cowen raised its target from $9 to $11 but kept a Hold rating; its new target remains below the stock’s recent trading level. TD Cowen rating
• Negative Sentiment: Despite improvement, same-store sales remained negative and overall revenue growth was modest. Reports tie the sales pressure to the Cyclospora outbreak, leaving investors focused on whether the recovery can continue. Same-store sales and outbreak recovery

Sweetgreen Company Profile

Sweetgreen, Inc operates a fast-casual restaurant company focused on fresh, customizable meals. Its menu includes salads, grain bowls, protein plates, sides, and beverages made with seasonal produce and other ingredients. Customers can order in restaurants or through Sweetgreen’s website and mobile application, with options for pickup and delivery.

Founded in 2007 by Nicolas Jammet, Jonathan Neman, and Nathaniel Ru, Sweetgreen began as a single restaurant in Washington, DC The company has expanded its restaurant network across metropolitan areas in the United States, with locations concentrated in major markets on the East and West coasts and in other regions.