Sweetgreen (NYSE:SG) Stock Price Expected to Rise, UBS Group Analyst Says

Sweetgreen (NYSE:SG) had its price objective lifted by UBS Group from $37.00 to $45.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on SG. Morgan Stanley raised their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday. Bank of America raised their target price on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, August 19th. Citigroup increased their price target on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $39.00 price target (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Stock Down 5.9 %

Shares of SG opened at $39.69 on Friday. The stock has a market capitalization of $4.53 billion, a P/E ratio of -50.88 and a beta of 2.32. The firm has a fifty day simple moving average of $35.59 and a two-hundred day simple moving average of $31.47. Sweetgreen has a twelve month low of $8.64 and a twelve month high of $42.77.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 13.27% and a negative return on equity of 18.71%. The firm had revenue of $184.60 million for the quarter, compared to analysts’ expectations of $180.79 million. During the same period in the previous year, the company earned ($0.20) EPS. The company’s quarterly revenue was up 21.0% on a year-over-year basis. Sell-side analysts expect that Sweetgreen will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other Sweetgreen news, CEO Jonathan Neman sold 169,772 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $140,447.08. Following the transaction, the insider now owns 114,842 shares in the company, valued at approximately $4,169,913.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Neman sold 169,772 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 466,022 shares of company stock valued at $16,671,481 over the last three months. 21.52% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors have recently made changes to their positions in SG. Intech Investment Management LLC acquired a new stake in Sweetgreen during the third quarter valued at $1,045,000. Moors & Cabot Inc. acquired a new stake in shares of Sweetgreen during the 3rd quarter valued at about $505,000. Segall Bryant & Hamill LLC purchased a new position in shares of Sweetgreen in the 3rd quarter valued at about $6,191,000. GLOBALT Investments LLC GA purchased a new position in Sweetgreen during the third quarter worth approximately $591,000. Finally, Quest Partners LLC grew its holdings in Sweetgreen by 68.4% in the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after purchasing an additional 1,728 shares during the period. 95.75% of the stock is owned by hedge funds and other institutional investors.

About Sweetgreen

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.