William Blair Reaffirms “Outperform” Rating for Sweetgreen (NYSE:SG)

William Blair reaffirmed their outperform rating on shares of Sweetgreen (NYSE:SGFree Report) in a report published on Wednesday morning, RTT News reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on Sweetgreen from $28.00 to $30.00 and gave the stock an overweight rating in a report on Friday, May 10th. Citigroup increased their price objective on Sweetgreen from $25.00 to $28.00 and gave the stock a neutral rating in a report on Friday, May 10th. Royal Bank of Canada increased their price objective on Sweetgreen from $20.00 to $35.00 and gave the stock an outperform rating in a report on Friday, May 10th. Oppenheimer increased their price target on Sweetgreen from $17.00 to $34.00 and gave the company an outperform rating in a research note on Monday, April 1st. Finally, Piper Sandler increased their price target on Sweetgreen from $16.00 to $19.00 and gave the company an overweight rating in a research note on Friday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $25.75.

Read Our Latest Research Report on SG

Sweetgreen Stock Performance

Shares of NYSE SG opened at $31.74 on Wednesday. The stock’s 50 day moving average price is $24.00 and its two-hundred day moving average price is $15.63. Sweetgreen has a 52-week low of $8.64 and a 52-week high of $34.45.

Sweetgreen (NYSE:SGGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). The firm had revenue of $157.85 million for the quarter, compared to analyst estimates of $152.02 million. Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.29) EPS. On average, analysts anticipate that Sweetgreen will post -0.73 EPS for the current year.

Insider Buying and Selling

In other Sweetgreen news, insider Adrienne Gemperle sold 4,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $16.00, for a total transaction of $64,000.00. Following the transaction, the insider now directly owns 129,407 shares of the company’s stock, valued at $2,070,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Sweetgreen news, CEO Jonathan Neman sold 5,000 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $11.55, for a total transaction of $57,750.00. Following the transaction, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at $24,255,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Adrienne Gemperle sold 4,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $16.00, for a total transaction of $64,000.00. Following the transaction, the insider now directly owns 129,407 shares in the company, valued at $2,070,512. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 319,428 shares of company stock worth $8,217,396. Corporate insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bourgeon Capital Management LLC acquired a new stake in Sweetgreen during the third quarter worth about $29,000. Perigon Wealth Management LLC acquired a new stake in Sweetgreen during the first quarter worth about $223,000. Quest Partners LLC acquired a new stake in Sweetgreen during the fourth quarter worth about $104,000. Clear Harbor Asset Management LLC acquired a new stake in Sweetgreen during the fourth quarter worth about $113,000. Finally, Entropy Technologies LP acquired a new stake in Sweetgreen during the first quarter worth about $279,000. 95.75% of the stock is owned by institutional investors and hedge funds.

About Sweetgreen

(Get Free Report)

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at 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.

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Analyst Recommendations for Sweetgreen (NYSE:SG)

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