Brokerages Set Sweetgreen, Inc. (NYSE:SG) PT at $8.22

Shares of Sweetgreen, Inc. (NYSE:SG) have earned an average recommendation of “Hold” from the eighteen brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.2214.

Several equities research analysts recently issued reports on SG shares. Sanford C. Bernstein set a $7.00 price objective on shares of Sweetgreen in a research note on Wednesday, January 7th. Morgan Stanley lowered their target price on shares of Sweetgreen from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 20th. JPMorgan Chase & Co. boosted their price target on Sweetgreen from $6.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 20th. Wolfe Research assumed coverage on Sweetgreen in a research note on Monday. They set a “peer perform” rating for the company. Finally, DA Davidson began coverage on Sweetgreen in a report on Friday, March 6th. They set a “neutral” rating and a $5.50 price objective on the stock.

Sweetgreen Stock Performance

Shares of SG opened at $5.62 on Monday. The firm has a market cap of $664.65 million, a PE ratio of -4.93 and a beta of 1.93. The firm’s 50 day moving average price is $6.34 and its 200 day moving average price is $7.02. Sweetgreen has a twelve month low of $4.99 and a twelve month high of $27.15.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, February 26th. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.11). Sweetgreen had a negative return on equity of 32.26% and a negative net margin of 19.73%.The business had revenue of $155.19 million during the quarter, compared to the consensus estimate of $159.59 million. During the same period in the prior year, the firm earned ($0.25) earnings per share. The business’s revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts anticipate that Sweetgreen will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Nicolas Jammet bought 4,428 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was purchased at an average price of $5.71 per share, with a total value of $25,283.88. Following the completion of the transaction, the insider directly owned 22,543 shares of the company’s stock, valued at $128,720.53. This trade represents a 24.44% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 19.78% of the company’s stock.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently modified their holdings of SG. Teacher Retirement System of Texas grew its stake in Sweetgreen by 5.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 15,981 shares of the company’s stock valued at $238,000 after buying an additional 877 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in Sweetgreen by 5.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 23,212 shares of the company’s stock worth $345,000 after acquiring an additional 1,209 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in Sweetgreen by 4.9% during the second quarter. Northwest & Ethical Investments L.P. now owns 39,912 shares of the company’s stock valued at $594,000 after acquiring an additional 1,870 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its holdings in Sweetgreen by 312.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 2,808 shares of the company’s stock valued at $42,000 after acquiring an additional 2,127 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Sweetgreen by 165.8% in the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares during the last quarter. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.