Brokerages Set Sweetgreen, Inc. (NYSE:SG) PT at $38.20

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $38.20.

A number of equities analysts have weighed in on SG shares. Piper Sandler reaffirmed a "neutral" rating and set a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Oppenheimer boosted their price target on Sweetgreen from $36.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, August 15th. Bank of America upped their price target on Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, August 19th. 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. Finally, Morgan Stanley raised their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Friday, August 9th.

Sweetgreen Trading Up 2.3 %

Shares of NYSE SG traded up $0.86 during midday trading on Friday, reaching $37.48. 4,423,982 shares of the stock were exchanged, compared to its average volume of 2,822,411. The company has a market capitalization of $4.28 billion, a P/E ratio of -44.66 and a beta of 2.33. The stock has a 50 day moving average price of $34.59 and a 200-day moving average price of $30.05. Sweetgreen has a 52-week low of $8.64 and a 52-week high of $39.75.

Sweetgreen (NYSE:SG - Get Free Report) last issued 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 during 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%. The firm's quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.20) earnings per share. On average, analysts forecast that Sweetgreen will post -0.75 earnings per share for the current year.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, 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 transaction, the insider now directly owns 114,842 shares of the company's stock, valued at $4,169,913.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Nicolas Jammet sold 169,767 shares of Sweetgreen stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,565.59. Following the completion of the transaction, the insider now directly owns 1,930,233 shares of the company's stock, valued at approximately $69,044,434.41. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction dated Friday, August 16th. The stock was 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 position. The disclosure for this sale can be found here. Insiders sold a total of 426,061 shares of company stock valued at $15,071,720 in the last ninety days. Insiders own 21.52% of the company's stock.

Hedge Funds Weigh In On Sweetgreen

Several institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Sweetgreen by 2.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company's stock worth $990,000 after acquiring an additional 537 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new position in Sweetgreen during the 3rd quarter worth approximately $3,329,000. PSI Advisors LLC purchased a new position in Sweetgreen during the 3rd quarter worth approximately $238,000. Brighton Jones LLC acquired a new stake in Sweetgreen during the 3rd quarter valued at $292,000. Finally, Precision Wealth Strategies LLC purchased a new stake in shares of Sweetgreen in the third quarter valued at $227,000. 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.