Sweetgreen (NYSE:SG) Lifted to “Buy” at TD Cowen

TD Cowen upgraded shares of Sweetgreen (NYSE:SG) from a hold rating to a buy rating in a research note released on Wednesday, Marketbeat.com reports. They currently have $43.00 target price on the stock, up from their prior target price of $31.00.

Other analysts also recently issued research reports about the company. Royal Bank of Canada boosted their price objective on Sweetgreen from $35.00 to $45.00 and gave the stock an outperform rating in a report on Friday, June 7th. Oppenheimer lifted their target price on Sweetgreen from $36.00 to $40.00 and gave the company an outperform rating in a research note on Thursday, August 15th. Morgan Stanley lifted their target price on Sweetgreen from $25.00 to $27.00 and gave the company an equal weight rating in a research note on Friday, August 9th. Piper Sandler reaffirmed a neutral rating and set a $39.00 target price (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Finally, William Blair reaffirmed an outperform rating on shares of Sweetgreen in a research note on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $38.20.

Sweetgreen Trading Down 2.0 %

NYSE SG opened at $27.87 on Wednesday. The stock’s 50-day moving average price is $29.08 and its two-hundred day moving average price is $26.47. The company has a market cap of $3.18 billion, a PE ratio of -29.97 and a beta of 2.32. Sweetgreen has a 1 year low of $8.64 and a 1 year high of $38.53.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. Sweetgreen’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) EPS. Research analysts forecast that Sweetgreen will post -0.75 EPS for the current fiscal year.

Insider Activity at Sweetgreen

In related news, insider Adrienne Gemperle sold 3,868 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $140,447.08. Following the completion of the sale, the insider now owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $102,793.61. Following the completion of the sale, the chief technology officer now owns 144,649 shares of the company’s stock, valued at $5,252,205.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $140,447.08. Following the sale, the insider now directly owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 371,116 shares of company stock valued at $13,248,867. 21.52% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sweetgreen

Large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new stake in Sweetgreen during the second quarter worth approximately $76,000. Versor Investments LP acquired a new position in shares of Sweetgreen during the second quarter worth approximately $217,000. Thoroughbred Financial Services LLC acquired a new position in shares of Sweetgreen during the second quarter worth approximately $233,000. Nkcfo LLC acquired a new position in shares of Sweetgreen during the second quarter worth approximately $241,000. Finally, Moloney Securities Asset Management LLC acquired a new position in shares of Sweetgreen during the second quarter worth approximately $256,000. Institutional investors own 95.75% of the company’s stock.

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.