Sweetgreen (NYSE:SG) PT Raised to $31.00

Sweetgreen (NYSE:SGFree Report) had its price target hoisted by TD Cowen from $26.00 to $31.00 in a research note issued to investors on Thursday, Benzinga reports. TD Cowen currently has a hold rating on the stock.

A number of other research firms also recently commented on SG. Piper Sandler increased their target price on Sweetgreen from $16.00 to $19.00 and gave the stock an overweight rating in a report on Friday, March 1st. Citigroup raised their price target on Sweetgreen from $25.00 to $28.00 and gave the stock a neutral rating in a report on Friday, May 10th. Royal Bank of Canada raised their price target on Sweetgreen from $35.00 to $45.00 and gave the stock an outperform rating in a report on Friday, June 7th. William Blair reissued an outperform rating on shares of Sweetgreen in a report on Wednesday, May 15th. Finally, Oppenheimer raised their price target on Sweetgreen from $17.00 to $34.00 and gave the stock an outperform rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $29.67.

Read Our Latest Stock Analysis on Sweetgreen

Sweetgreen Stock Down 6.4 %

NYSE:SG opened at $31.54 on Thursday. The business’s 50 day moving average is $27.42 and its two-hundred day moving average is $18.81. Sweetgreen has a 52 week low of $8.64 and a 52 week high of $36.72. The company has a market cap of $3.57 billion, a PE ratio of -33.91 and a beta of 2.34.

Sweetgreen (NYSE:SGGet Free Report) last released its earnings results on Thursday, May 9th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Sweetgreen had a negative return on equity of 20.74% and a negative net margin of 17.15%. The firm had revenue of $157.85 million for the quarter, compared to the consensus estimate of $152.02 million. During the same period in the prior year, the business earned ($0.29) EPS. The company’s quarterly revenue was up 26.2% on a year-over-year basis. As a group, sell-side analysts expect that Sweetgreen will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 200,000 shares of Sweetgreen stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $31.30, for a total transaction of $6,260,000.00. Following the sale, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at approximately $65,730,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Jonathan Neman sold 200,000 shares of Sweetgreen stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $31.30, for a total transaction of $6,260,000.00. Following the transaction, the chief executive officer now directly owns 2,100,000 shares in the company, valued at approximately $65,730,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Mitch Reback sold 8,410 shares of Sweetgreen stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $31.35, for a total value of $263,653.50. Following the transaction, the chief financial officer now owns 397,174 shares in the company, valued at $12,451,404.90. The disclosure for this sale can be found here. Insiders have sold 440,692 shares of company stock valued at $13,738,038 in the last quarter. Corporate insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

Hedge funds have recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Sweetgreen in the 4th quarter worth $104,000. Clear Harbor Asset Management LLC acquired a new position in shares of Sweetgreen in the 4th quarter worth $113,000. Triumph Capital Management acquired a new position in shares of Sweetgreen in the 4th quarter worth $126,000. Handelsbanken Fonder AB acquired a new position in shares of Sweetgreen in the 4th quarter worth $137,000. Finally, Graham Capital Wealth Management LLC acquired a new position in shares of Sweetgreen in the 4th quarter worth $139,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

About Sweetgreen

(Get Free Report)

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.

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