Sweetgreen, Inc. (NYSE:SG) Receives $7.57 Consensus Price Target from Brokerages

Sweetgreen, Inc. (NYSE:SG) has been given an average recommendation of “Hold” by the eighteen brokerages that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $7.5733.

Several equities research analysts have recently issued reports on the stock. Oppenheimer raised their target price on shares of Sweetgreen from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Citizens Jmp began coverage on shares of Sweetgreen in a research report on Monday, March 30th. They issued a “mkt underperform” rating and a $4.50 price objective on the stock. Wall Street Zen raised shares of Sweetgreen from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 23rd. JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $8.00 to $13.00 in a research report on Friday, May 22nd. Finally, BNP Paribas Exane boosted their target price on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Friday, May 8th.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its position in Sweetgreen by 241.5% in the 2nd quarter. Versant Capital Management Inc now owns 10,518 shares of the company’s stock valued at $93,000 after acquiring an additional 7,438 shares during the last quarter. Eastern Bank boosted its stake in shares of Sweetgreen by 29.1% during the second quarter. Eastern Bank now owns 25,224 shares of the company’s stock valued at $222,000 after purchasing an additional 5,693 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Sweetgreen by 495.3% in the first quarter. Quantinno Capital Management LP now owns 193,757 shares of the company’s stock worth $1,006,000 after purchasing an additional 161,209 shares during the last quarter. SummitTX Capital L.P. bought a new position in shares of Sweetgreen in the first quarter worth about $98,000. Finally, Granahan Investment Management LLC bought a new position in shares of Sweetgreen in the first quarter worth about $1,472,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Stock Performance

NYSE:SG opened at $6.22 on Friday. The stock’s fifty day moving average is $8.39 and its 200 day moving average is $6.97. Sweetgreen has a fifty-two week low of $4.49 and a fifty-two week high of $16.70. The firm has a market capitalization of $739.12 million, a PE ratio of 51.84 and a beta of 2.17.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The firm had revenue of $161.52 million for the quarter, compared to analysts’ expectations of $163.94 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.During the same period in the previous year, the firm earned ($0.21) earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. Equities analysts forecast that Sweetgreen will post -0.76 EPS for the current year.

About Sweetgreen

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.