Sweetgreen, Inc. (NYSE:SG) receives an average rating of “Moderate Buy” from the brokerage

VaselineSeptember 30, 2024

0 4 minutes read

Sweetgreen, Inc. (NYSE:SG – Get Your Free Report ) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $38.20.

A number of research firms recently weighed in on SG. JPMorgan Chase & Co. boosted their target price on Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Goldman Sachs Group initiated coverage on shares of Sweetgreen in a report on Thursday, June 13th. They issued a “buy” rating and a $39.00 target price on the stock. Bank of America raised their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Royal Bank of Canada upped their price objective on shares of Sweetgreen from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, June 7th. Finally, UBS Group boosted their price target on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Check out our latest review of Sweetgreen

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In other news, CFO Mitch Reback sold 9,156 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the completion of the sale, the chief financial officer now directly owns 379,181 shares in the company, valued at approximately $13,881,816.41. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Jonathan Neman sold 169,772 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $69,044,255.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Also, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the transaction, the chief financial officer now owns 379,181 shares in the company, valued at approximately $13,881,816.41. The disclosure for this sale can be found here. Insiders sold a total of 426,061 shares of company stock worth $15,071,720 over the last quarter. 21.52% of shares are held by insiders.

Sweetgreen Institutional Trading

Hedge funds have recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in shares of Sweetgreen in the second quarter valued at approximately $76,000. Versor Investments LP acquired a new stake in Sweetgreen during the second quarter valued at about $217,000. Thoroughbred Financial Services LLC purchased a new stake in Sweetgreen in the second quarter valued at approximately $233,000. Nkcfo LLC acquired a new position in shares of Sweetgreen in the second quarter valued at about $241,000. Finally, Moloney Securities Asset Management LLC acquired a new position in shares of Sweetgreen during the 2nd quarter valued at approximately $256,000. Hedge funds and other institutional investors own 95.75% of the company’s shares.

Sweetgreen stock up 2.9%

Shares of Sweetgreen opened at $35.95 on Monday. The firm has a market cap of $4.07 billion, a PE ratio of -38.66 and a beta of 2.32. Sweetgreen has a 52 week low of $8.64 and a 52 week high of $38.53. The company’s 50-day simple moving average is $31.52, and its 200-day simple moving average is $28.51.

Sweetgreen (NYSE:SG – Get Your Free Report ) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate 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 business had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. In the same quarter last year, the company earned ($0.20) earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, research analysts expect that Sweetgreen will post -0.75 EPS for the current fiscal year.

Sweetgreen Company Profile

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Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy food on a large 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.