Oppenheimer Lowers Sweetgreen (NYSE:SG) Price Target to $8.50

Sweetgreen (NYSE:SG) had its price objective reduced by equities research analysts at Oppenheimer from $10.00 to $8.50 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 60.59% from the stock’s previous close.

A number of other research firms have also commented on SG. BNP Paribas Exane upped their price target on Sweetgreen from $4.50 to $5.00 and gave the company an “underperform” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $8.00 to $13.00 in a research report on Friday, May 22nd. Weiss Ratings raised Sweetgreen from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 22nd. Wells Fargo & Company decreased their target price on Sweetgreen from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday. Finally, DA Davidson raised their price target on Sweetgreen from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Sweetgreen currently has an average rating of “Hold” and a consensus target price of $7.35.

Sweetgreen Trading Down 9.8%

Shares of SG stock traded down $0.58 during mid-day trading on Friday, reaching $5.29. The stock had a trading volume of 7,628,959 shares, compared to its average volume of 5,013,029. The firm has a market capitalization of $628.97 million, a PE ratio of 44.63 and a beta of 2.19. The stock’s 50-day moving average price is $7.75 and its two-hundred day moving average price is $6.86. Sweetgreen has a 52-week low of $4.49 and a 52-week high of $10.63.

Sweetgreen (NYSE:SG) last posted its earnings results on Thursday, August 6th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.09). The firm had revenue of $192.66 million for the quarter, compared to analysts’ expectations of $194.50 million. Sweetgreen had a negative return on equity of 33.07% and a net margin of 2.49%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.20) earnings per share. On average, equities research analysts forecast that Sweetgreen will post -0.52 earnings per share for the current year.

Institutional Trading of Sweetgreen

Several large investors have recently bought and sold shares of the company. Woodson Capital Management LP raised its position in shares of Sweetgreen by 152.6% in the 4th quarter. Woodson Capital Management LP now owns 6,000,000 shares of the company’s stock worth $40,560,000 after acquiring an additional 3,625,000 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Sweetgreen by 1,428.8% during the third quarter. Marshall Wace LLP now owns 3,923,973 shares of the company’s stock valued at $31,313,000 after purchasing an additional 3,667,306 shares in the last quarter. Federated Hermes Inc. grew its stake in Sweetgreen by 366.8% in the fourth quarter. Federated Hermes Inc. now owns 2,647,899 shares of the company’s stock worth $17,900,000 after purchasing an additional 2,080,628 shares during the period. Geode Capital Management LLC grew its stake in Sweetgreen by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 2,453,564 shares of the company’s stock worth $16,589,000 after purchasing an additional 16,281 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in Sweetgreen by 35.6% in the fourth quarter. BNP Paribas Financial Markets now owns 2,295,867 shares of the company’s stock worth $15,520,000 after purchasing an additional 603,029 shares during the period. 95.75% of the stock is owned by institutional investors.

Key Headlines Impacting Sweetgreen

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Wells Fargo lowered its price target from $7 to $6 but maintained an “equal weight” rating, implying moderate potential upside from recent trading levels. Benzinga analyst action
• Neutral Sentiment: Sweetgreen’s quarterly revenue increased 3.8% year over year to $192.66 million, although growth was slightly below analysts’ expectations. The company’s market capitalization is approximately $620 million, and its shares remain near the lower end of their 52-week range.
• Negative Sentiment: TD Cowen cut its price target from $8 to $5 and downgraded its outlook to “hold,” signaling limited expected upside and reflecting concerns about near-term operating performance. Benzinga analyst action
• Negative Sentiment: Sweetgreen reported a second-quarter loss of $0.22 per share, wider than the $0.13 loss analysts expected and worse than the $0.20 loss reported a year earlier. Revenue also narrowly missed estimates. Sweetgreen second-quarter earnings
• Negative Sentiment: The company reduced its full-year same-store-sales outlook to a 7% to 8% decline as consumers became more cautious about eating fresh produce amid cyclosporiasis fears. The guidance cut indicates that the outbreak is affecting demand even without a direct link to Sweetgreen. Wall Street Journal outlook report CNBC outlook report
• Negative Sentiment: The outbreak-related demand concerns and forecast reduction have prompted a broad reassessment of Sweetgreen’s earnings prospects, weighing on the stock despite the company’s modest revenue growth. Reuters cyclosporiasis and forecast report

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.