Q3 Earnings Estimate for Sweetgreen Issued By William Blair

Sweetgreen, Inc. (NYSE:SG - Free Report) - Investment analysts at William Blair lowered their Q3 2024 EPS estimates for shares of Sweetgreen in a research note issued on Wednesday, October 23rd. William Blair analyst S. Zackfia now expects that the company will earn ($0.15) per share for the quarter, down from their previous forecast of ($0.14). The consensus estimate for Sweetgreen's current full-year earnings is ($0.75) per share. William Blair also issued estimates for Sweetgreen's Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.73) EPS and FY2025 earnings at ($0.52) EPS.

Sweetgreen (NYSE:SG - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The company 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 business posted ($0.20) EPS. The business's revenue for the quarter was up 21.0% on a year-over-year basis.

Several other equities analysts have also recently issued reports on SG. Citigroup lifted their price objective on Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a research note on Friday, August 9th. UBS Group boosted their price target on shares of Sweetgreen from $31.00 to $37.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Bank of America boosted their target price on Sweetgreen from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, August 19th. Oppenheimer upped their target price on Sweetgreen from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. Finally, TD Cowen reiterated a "buy" rating and issued a $43.00 price objective on shares of Sweetgreen in a research note on Friday, September 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $38.20.

Sweetgreen Stock Up 3.6 %

Shares of SG traded up $1.35 during mid-day trading on Monday, hitting $38.83. 3,273,865 shares of the company's stock were exchanged, compared to its average volume of 2,825,228. The stock's 50-day moving average is $34.59 and its 200-day moving average is $30.24. Sweetgreen has a fifty-two week low of $8.64 and a fifty-two week high of $40.20.

Insider Buying and Selling at Sweetgreen

In other news, insider Adrienne Gemperle sold 3,868 shares of the company's stock in a transaction 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 in the company, valued at $4,169,913.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Adrienne Gemperle sold 3,868 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the sale, the insider now owns 114,842 shares in the company, valued at approximately $4,169,913.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 169,772 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44. Following the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $69,044,255.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 426,061 shares of company stock valued at $15,071,720 over the last quarter. Corporate insiders own 21.52% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Sweetgreen by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company's stock valued at $94,361,000 after acquiring an additional 224,522 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Sweetgreen by 11.7% during the first quarter. Principal Financial Group Inc. now owns 12,762 shares of the company's stock worth $322,000 after purchasing an additional 1,337 shares in the last quarter. FORA Capital LLC purchased a new stake in shares of Sweetgreen in the first quarter worth about $1,175,000. Quantbot Technologies LP acquired a new stake in shares of Sweetgreen in the first quarter valued at about $490,000. Finally, Yarra Square Partners LP purchased a new stake in shares of Sweetgreen during the 1st quarter valued at about $4,117,000. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.