Brokerages Set Sweetgreen, Inc. (NYSE:SG) Target Price at $29.67

Shares of Sweetgreen, Inc. (NYSE:SG) have been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $29.67.

Several research firms have commented on SG. JPMorgan Chase & Co. increased their price objective on shares of Sweetgreen from $32.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, June 14th. William Blair restated an “outperform” rating on shares of Sweetgreen in a research report on Wednesday, May 15th. Oppenheimer upped their target price on shares of Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a research report on Monday, April 1st. TD Cowen upped their target price on shares of Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a research report on Thursday, June 13th. Finally, Citigroup upped their target price on shares of Sweetgreen from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, May 10th.

Sweetgreen Stock Performance

Shares of Sweetgreen stock opened at $28.52 on Friday. The company has a fifty day moving average of $28.57 and a 200 day moving average of $19.91. Sweetgreen has a fifty-two week low of $8.64 and a fifty-two week high of $36.72. The company has a market capitalization of $3.23 billion, a P/E ratio of -30.67 and a beta of 2.34.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The company had revenue of $157.85 million for the quarter, compared to the consensus estimate of $152.02 million. During the same period last year, the company earned ($0.29) EPS. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. Analysts forecast that Sweetgreen will post -0.73 EPS for the current year.

Insider Transactions at Sweetgreen

In other news, CEO Jonathan Neman sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the transaction, the chief executive officer now directly owns 2,100,000 shares of the company’s stock, valued at $64,050,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Adrienne Gemperle sold 6,808 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.95, for a total transaction of $210,707.60. Following the transaction, the insider now directly owns 118,710 shares in the company, valued at $3,674,074.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Neman sold 150,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $30.50, for a total transaction of $4,575,000.00. Following the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at $64,050,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 440,692 shares of company stock valued at $13,738,038. 21.52% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Sweetgreen by 0.6% in the third quarter. FMR LLC now owns 14,810,112 shares of the company’s stock valued at $174,019,000 after acquiring an additional 84,375 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sweetgreen by 0.8% in the first quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after acquiring an additional 70,395 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Sweetgreen by 38.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock worth $19,549,000 after buying an additional 476,998 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Sweetgreen by 1,435.2% in the third quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock worth $19,679,000 after buying an additional 1,565,700 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new position in shares of Sweetgreen in the first quarter worth $29,105,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

Sweetgreen Company Profile

Sweetgreen, Inc, together with its subsidiaries, operates fast food restaurants serving healthy foods at scale in the United States. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that do not have an expiration date and can be redeemed. The company was founded in 2006 and is headquartered in Los Angeles, California.