Sweetgreen (NYSE:SG) Stock Gets Price Target Increase from Citigroup

Sweetgreen (NYSE:SG) had its price target boosted by analysts at Citigroup from $13.00 to $15.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup‘s target price indicates a potential upside of 25.80% from the company’s current price.

Several other research analysts also recently commented on the company. KeyCorp lifted their target price on Sweetgreen from $12.00 to $13.00 and gave the stock an “overweight” rating in a report on Friday. Wall Street Zen upgraded Sweetgreen from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 16th. TD Cowen lifted their target price on Sweetgreen from $9.00 to $11.00 and gave the stock a “hold” rating in a report on Friday. DA Davidson lifted their target price on Sweetgreen from $5.50 to $12.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Morgan Stanley boosted their price target on Sweetgreen from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Thursday, October 15th. Six analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Sweetgreen presently has an average rating of “Hold” and an average target price of $9.88.

Sweetgreen Trading Up 3.2%

NYSE SG traded up $0.37 on Friday, hitting $11.92. 12,911,541 shares of the company’s stock were exchanged, compared to its average volume of 5,103,323. The stock has a 50-day moving average of $8.83 and a 200-day moving average of $7.28. Sweetgreen has a 52 week low of $4.49 and a 52 week high of $12.49. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 119.25 and a beta of 2.11.

Sweetgreen (NYSE:SG) last released its earnings results on Friday, November 6th. The company reported ($0.26) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.26). The firm had revenue of $176.02 million for the quarter, compared to analysts’ expectations of $170.07 million. Sweetgreen had a negative return on equity of 32.94% and a net margin of 2.01%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.31) earnings per share. As a group, analysts predict that Sweetgreen will post -1.04 earnings per share for the current year.

Insider Transactions at Sweetgreen

In other news, CFO Jamie McConnell sold 15,033 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $93,354.93. Following the completion of the sale, the chief financial officer directly owned 210,489 shares of the company’s stock, valued at $1,307,136.69. This represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jason Miles Cochran sold 4,809 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.21, for a total value of $29,863.89. Following the sale, the chief operating officer owned 207,076 shares of the company’s stock, valued at $1,285,941.96. This trade represents a 2.27% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 18.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Fulcrum Asset Management LLP increased its stake in shares of Sweetgreen by 5,967.2% in the 3rd quarter. Fulcrum Asset Management LLP now owns 13,894 shares of the company’s stock worth $121,000 after acquiring an additional 13,665 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Sweetgreen by 175.2% during the third quarter. Sterling Capital Management LLC now owns 2,936 shares of the company’s stock worth $26,000 after acquiring an additional 1,869 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Sweetgreen during the third quarter worth about $68,000. Curated Wealth Partners LLC bought a new stake in Sweetgreen during the third quarter worth about $480,000. Finally, Eastern Bank grew its holdings in Sweetgreen by 7.3% in the third quarter. Eastern Bank now owns 27,054 shares of the company’s stock worth $240,000 after purchasing an additional 1,830 shares during the period. Institutional investors own 95.75% of the company’s stock.

Key Sweetgreen News

Here are the key news stories impacting Sweetgreen this week:

• Positive Sentiment: Sweetgreen reported Q3 revenue of $176.0 million, up 2.1% year over year and above the roughly $170 million consensus estimate. Its $0.26-per-share loss was in line with consensus and narrower than the year-earlier loss. Same-store sales fell 6.4%, an improvement from a 9.5% decline a year ago. Sweetgreen Q3 results
• Positive Sentiment: Several firms raised their targets: Oppenheimer and Wells Fargo moved to $14, while KeyCorp raised its target to $13; all maintained bullish ratings. The revisions may bolster confidence following the earnings release. Oppenheimer rating Wells Fargo rating KeyCorp rating
• Neutral Sentiment: TD Cowen raised its target from $9 to $11 but kept a Hold rating; its new target remains below the stock’s recent trading level. TD Cowen rating
• Negative Sentiment: Despite improvement, same-store sales remained negative and overall revenue growth was modest. Reports tie the sales pressure to the Cyclospora outbreak, leaving investors focused on whether the recovery can continue. Same-store sales and outbreak recovery

Sweetgreen Company Profile

Sweetgreen, Inc operates a fast-casual restaurant company focused on fresh, customizable meals. Its menu includes salads, grain bowls, protein plates, sides, and beverages made with seasonal produce and other ingredients. Customers can order in restaurants or through Sweetgreen’s website and mobile application, with options for pickup and delivery.

Founded in 2007 by Nicolas Jammet, Jonathan Neman, and Nathaniel Ru, Sweetgreen began as a single restaurant in Washington, DC The company has expanded its restaurant network across metropolitan areas in the United States, with locations concentrated in major markets on the East and West coasts and in other regions.