Sweetgreen (NYSE:SG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Sweetgreen (NYSE:SG) had its target price lifted by research analysts at JPMorgan Chase & Co. from $6.00 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 6.45% from the company’s current price.

Several other research firms also recently weighed in on SG. Bank of America reaffirmed a “neutral” rating and issued a $9.50 target price (down from $18.00) on shares of Sweetgreen in a research report on Monday, October 6th. Wells Fargo & Company cut shares of Sweetgreen from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $10.00 to $7.00 in a research report on Wednesday, December 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $8.00 target price on shares of Sweetgreen in a research note on Tuesday, December 9th. Sanford C. Bernstein set a $7.00 price target on Sweetgreen in a research report on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Sweetgreen in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Sweetgreen currently has an average rating of “Hold” and a consensus price target of $10.86.

Sweetgreen Trading Down 5.7%

Sweetgreen stock traded down $0.46 during mid-day trading on Tuesday, hitting $7.52. The company’s stock had a trading volume of 700,810 shares, compared to its average volume of 4,159,781. Sweetgreen has a 1 year low of $5.14 and a 1 year high of $35.16. The firm has a market capitalization of $889.55 million, a PE ratio of -7.76 and a beta of 1.93. The stock’s fifty day moving average is $6.84 and its two-hundred day moving average is $8.65.

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

Insider Buying and Selling at Sweetgreen

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

Institutional Investors Weigh In On Sweetgreen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SG. WoodTrust Financial Corp purchased a new stake in shares of Sweetgreen during the second quarter worth approximately $1,075,000. RPG Investment Advisory LLC increased its stake in Sweetgreen by 33.2% in the 3rd quarter. RPG Investment Advisory LLC now owns 616,191 shares of the company’s stock valued at $4,916,000 after buying an additional 153,525 shares during the period. Greenhouse Funds LLLP acquired a new stake in shares of Sweetgreen in the 2nd quarter worth $32,122,000. Spyglass Capital Management LLC lifted its stake in shares of Sweetgreen by 15.2% in the 2nd quarter. Spyglass Capital Management LLC now owns 3,899,813 shares of the company’s stock worth $58,029,000 after acquiring an additional 513,643 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Sweetgreen during the second quarter worth about $962,000. Hedge funds and other institutional investors own 95.75% of the company’s stock.

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.