Sweetgreen (NYSE:SG) Price Target Lowered to $6.50 at UBS Group

Sweetgreen (NYSE:SG) had its price target lowered by UBS Group from $7.00 to $6.50 in a report published on Friday, MarketBeat.com reports. The firm currently has a neutral rating on the stock.

SG has been the topic of several other research reports. Oppenheimer dropped their price objective on Sweetgreen from $10.00 to $8.50 and set an “outperform” rating on the stock in a research note on Friday. 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 research report on Friday. DA Davidson boosted their target price on Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. TD Cowen dropped their price target on Sweetgreen from $8.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. upgraded Sweetgreen from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $8.00 to $13.00 in a research note on Friday, May 22nd. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.19.

Sweetgreen Stock Performance

Shares of SG stock opened at $5.39 on Friday. The firm has a market cap of $640.49 million, a price-to-earnings ratio of 53.91 and a beta of 2.19. Sweetgreen has a 52 week low of $4.49 and a 52 week high of $10.63. The firm’s 50-day simple moving average is $7.66 and its two-hundred day simple moving average is $6.85.

Sweetgreen (NYSE:SG) last released 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). Sweetgreen had a net margin of 2.01% and a negative return on equity of 34.03%. The company had revenue of $192.66 million for the quarter, compared to the consensus estimate of $194.50 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Analysts forecast that Sweetgreen will post -0.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SG. Larson Financial Group LLC raised its holdings in Sweetgreen by 165.8% during the 3rd quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after acquiring an additional 2,349 shares during the period. Fifth Third Bancorp bought a new position in shares of Sweetgreen in the first quarter worth $38,000. CWM LLC boosted its holdings in shares of Sweetgreen by 212.2% in the fourth quarter. CWM LLC now owns 7,333 shares of the company’s stock worth $50,000 after acquiring an additional 4,984 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Sweetgreen by 281.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 7,912 shares of the company’s stock worth $53,000 after acquiring an additional 5,839 shares during the period. Finally, Onyx Bridge Wealth Group LLC purchased a new position in shares of Sweetgreen in the first quarter valued at $56,000. 95.75% of the stock is owned by institutional investors.

Sweetgreen News Roundup

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Second-quarter revenue increased 3.8% year over year to $192.66 million, indicating continued sales growth despite the challenging environment. Oppenheimer maintained an “outperform” rating, although it reduced its price target from $10 to $8.50. Oppenheimer lowers Sweetgreen price target
• Neutral Sentiment: Sweetgreen said it has not been implicated in the ongoing cyclospora outbreak, but consumer concerns about fresh produce are affecting traffic. The company removed jalapeños from its offerings amid the broader food-safety concerns. Sweetgreen cuts full-year outlook as cyclospora fears weigh on sales
• 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 a year earlier. Revenue also fell slightly short of estimates. Sweetgreen reports second-quarter loss and misses revenue estimates
• Negative Sentiment: Same-store sales declined 6.2% in the quarter, marking the chain’s sixth consecutive comparable-sales decline. Management now expects full-year same-store sales to fall 7%–8%, reflecting weaker customer demand linked to cyclospora fears. Sweetgreen shares slide as cyclosporiasis fears prompt forecast cut
• Negative Sentiment: Analysts lowered their valuations following the earnings release: Wells Fargo cut its target from $7 to $6, while TD Cowen reduced its target from $8 to $5 and assigned a “hold” rating. Analysts lower Sweetgreen price targets

About Sweetgreen

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.