Brokerages Set Sweetgreen, Inc. (NYSE:SG) Price Target at $33.60

Shares of Sweetgreen, Inc. (NYSE:SG) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $34.00.

A number of brokerages have recently issued reports on SG. Oppenheimer boosted their target price on Sweetgreen from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada increased their price target on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. Citigroup increased their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 9th. TD Cowen increased their price target on Sweetgreen from $26.00 to $31.00 and gave the company a “hold” rating in a report on Thursday, June 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Sweetgreen from $32.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, June 14th.

Insiders Place Their Bets

In other news, insider Adrienne Gemperle sold 6,808 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.95, for a total value of $210,707.60. Following the transaction, the insider now owns 118,710 shares of the company’s stock, valued at approximately $3,674,074.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Mitch Reback sold 8,837 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $31.98, for a total value of $282,607.26. Following the completion of the transaction, the chief financial officer now owns 388,337 shares in the company, valued at approximately $12,419,017.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adrienne Gemperle sold 6,808 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.95, for a total value of $210,707.60. Following the completion of the transaction, the insider now owns 118,710 shares of the company’s stock, valued at $3,674,074.50. The disclosure for this sale can be found here. Insiders have sold a total of 165,645 shares of company stock valued at $5,068,315 in the last 90 days. 21.52% of the stock is currently owned by insiders.

Institutional Trading of Sweetgreen

Several institutional investors have recently added to or reduced their stakes in the company. Boulder Hill Capital Management LP acquired a new stake in Sweetgreen in the fourth quarter valued at about $868,000. Conrad N. Hilton Foundation bought a new position in Sweetgreen in the 4th quarter valued at approximately $434,000. Sei Investments Co. bought a new stake in shares of Sweetgreen during the first quarter worth $1,110,000. Vanguard Group Inc. increased its holdings in shares of Sweetgreen by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock worth $94,361,000 after buying an additional 224,522 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Sweetgreen in the 1st quarter valued at $490,000. 95.75% of the stock is currently owned by institutional investors.

Sweetgreen Stock Performance

Shares of SG opened at $36.78 on Friday. Sweetgreen has a one year low of $8.64 and a one year high of $36.96. The stock has a 50-day moving average price of $28.49 and a 200 day moving average price of $24.01. The company has a market capitalization of $4.17 billion, a P/E ratio of -39.55 and a beta of 2.30.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The business 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 19.20% and a negative net margin of 14.33%. The company’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.20) EPS. As a group, equities research analysts forecast that Sweetgreen will post -0.73 earnings per share for the current fiscal year.

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.