Sweetgreen, Inc. (NYSE:SG) Receives Average Rating of “Hold” from Analysts

Sweetgreen, Inc. (NYSE:SG) has been given an average rating of “Hold” by the sixteen analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $11.4286.

A number of research firms have commented on SG. Piper Sandler reduced their price objective on shares of Sweetgreen from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Bank of America restated a “neutral” rating and issued a $9.50 price target (down previously from $18.00) on shares of Sweetgreen in a research report on Monday, October 6th. William Blair reiterated a “market perform” rating on shares of Sweetgreen in a research report on Friday, November 7th. Oppenheimer set a $10.00 target price on shares of Sweetgreen in a research note on Friday, November 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of Sweetgreen in a research report on Wednesday, November 12th.

Insider Buying and Selling

In related news, CEO Jonathan Neman purchased 179,800 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average cost of $5.56 per share, with a total value of $999,688.00. Following the completion of the purchase, the chief executive officer owned 179,800 shares of the company’s stock, valued at $999,688. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicolas Jammet bought 18,115 shares of the stock in a transaction on Wednesday, November 12th. The stock was purchased at an average price of $5.51 per share, for a total transaction of $99,813.65. Following the purchase, the insider directly owned 18,115 shares of the company’s stock, valued at approximately $99,813.65. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 19.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sweetgreen

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Centurion Wealth Management LLC acquired a new position in shares of Sweetgreen during the 4th quarter worth $75,000. Eastern Bank boosted its holdings in Sweetgreen by 228.5% in the fourth quarter. Eastern Bank now owns 8,780 shares of the company’s stock worth $59,000 after purchasing an additional 6,107 shares in the last quarter. SG Americas Securities LLC increased its position in Sweetgreen by 42.5% during the fourth quarter. SG Americas Securities LLC now owns 152,766 shares of the company’s stock worth $1,033,000 after buying an additional 45,569 shares during the last quarter. Mirabella Financial Services LLP bought a new position in Sweetgreen during the third quarter valued at about $166,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Sweetgreen in the third quarter worth about $88,000. Institutional investors own 95.75% of the company’s stock.

Sweetgreen Price Performance

SG stock opened at $7.97 on Friday. The firm has a market cap of $943.41 million, a PE ratio of -8.22 and a beta of 1.93. Sweetgreen has a 12 month low of $5.14 and a 12 month high of $35.16. The firm has a 50 day simple moving average of $6.79 and a 200 day simple moving average of $8.74.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data on Friday, November 7th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.13). The company had revenue of $172.39 million for the quarter, compared to analyst estimates of $179.29 million. Sweetgreen had a negative net margin of 16.55% and a negative return on equity of 25.67%. Sweetgreen’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted ($0.18) EPS. As a group, sell-side analysts expect that Sweetgreen will post -0.74 earnings per share for the current year.

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.