Sweetgreen (NYSE:SG – Get Free Report) had its price objective increased by equities research analysts at Royal Bank of Canada from $13.00 to $20.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 12.93% from the stock’s previous close.
Several other brokerages have also commented on SG. Oppenheimer restated an “outperform” rating and set a $17.00 price target (up previously from $15.00) on shares of Sweetgreen in a research note on Friday. JPMorgan Chase & Co. cut their price target on Sweetgreen from $14.00 to $13.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 8th. Citigroup raised their price target on Sweetgreen from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, February 21st. Piper Sandler raised their price target on Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Morgan Stanley raised their price target on Sweetgreen from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sweetgreen currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.50.
Sweetgreen Price Performance
Shares of NYSE:SG traded up $1.35 on Monday, hitting $17.71. 1,688,642 shares of the company’s stock were exchanged, compared to its average volume of 1,985,788. Sweetgreen has a 12 month low of $6.10 and a 12 month high of $18.00. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -17.72 and a beta of 1.91. The business’s 50 day simple moving average is $11.28 and its two-hundred day simple moving average is $11.34.
Sweetgreen (NYSE:SG – Get Free Report) last released its earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Sweetgreen had a negative return on equity of 21.58% and a negative net margin of 19.41%. The business had revenue of $153.00 million for the quarter, compared to the consensus estimate of $152.04 million. During the same quarter last year, the business posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 29.0% compared to the same quarter last year. Equities analysts forecast that Sweetgreen will post -0.64 EPS for the current fiscal year.
Insider Transactions at Sweetgreen
In related news, insider Adrienne Gemperle sold 4,286 shares of Sweetgreen stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $12.32, for a total transaction of $52,803.52. Following the completion of the sale, the insider now owns 139,693 shares of the company’s stock, valued at $1,721,017.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sweetgreen news, CFO Mitch Reback sold 10,444 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $12.01, for a total value of $125,432.44. Following the completion of the transaction, the chief financial officer now directly owns 439,059 shares of the company’s stock, valued at $5,273,098.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adrienne Gemperle sold 4,286 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $12.32, for a total value of $52,803.52. Following the completion of the sale, the insider now owns 139,693 shares of the company’s stock, valued at $1,721,017.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,013 shares of company stock worth $689,693. Insiders own 22.03% of the company’s stock.
Institutional Trading of Sweetgreen
Large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in Sweetgreen by 0.6% in the 3rd quarter. FMR LLC now owns 14,810,112 shares of the company’s stock valued at $174,019,000 after buying an additional 84,375 shares in the last quarter. Essex Investment Management Co. LLC purchased a new stake in Sweetgreen in the 3rd quarter valued at $1,749,000. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in Sweetgreen in the 3rd quarter valued at $735,000. Pathstone Family Office LLC grew its holdings in Sweetgreen by 4,779.5% in the 3rd quarter. Pathstone Family Office LLC now owns 694,102 shares of the company’s stock valued at $8,156,000 after buying an additional 679,877 shares in the last quarter. Finally, Baillie Gifford & Co. grew its holdings in Sweetgreen by 31.9% in the 3rd quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after buying an additional 2,907,749 shares in the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.
About Sweetgreen
Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.