Sweetgreen (SG) to Release Earnings on Thursday

Sweetgreen (NYSE:SG - Get Free Report) is scheduled to announce its earnings results after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of ($0.16) per share for the quarter. Sweetgreen has set its FY 2024 guidance at EPS.Investors that are interested in participating in the company's conference call can do so using this link.

Sweetgreen (NYSE:SG - Get Free Report) last posted 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 return on equity of 19.34% and a negative net margin of 14.33%. The business had revenue of $184.60 million during the quarter, compared to analysts' expectations of $180.79 million. During the same quarter in the prior year, the firm earned ($0.20) EPS. The firm's revenue for the quarter was up 21.0% compared to the same quarter last year. On average, analysts expect Sweetgreen to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sweetgreen Price Performance

Shares of Sweetgreen stock traded down $1.38 during trading on Thursday, hitting $36.10. 2,476,638 shares of the company's stock traded hands, compared to its average volume of 2,815,531. Sweetgreen has a 1 year low of $8.64 and a 1 year high of $40.20. The business has a 50-day simple moving average of $34.84 and a 200-day simple moving average of $30.51. The stock has a market capitalization of $4.12 billion, a P/E ratio of -45.71 and a beta of 2.33.

Analysts Set New Price Targets

SG has been the topic of several research reports. Bank of America raised their target price on Sweetgreen from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, August 19th. Citigroup boosted their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the company a "neutral" rating in a research report on Friday, August 9th. Morgan Stanley lifted their price target on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research note on Friday, August 9th. TD Cowen reiterated a "buy" rating and set a $43.00 target price on shares of Sweetgreen in a research report on Friday, September 27th. Finally, Piper Sandler restated a "neutral" rating and issued a $39.00 price target (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Sweetgreen has an average rating of "Moderate Buy" and a consensus price target of $38.20.

Insiders Place Their Bets

In other news, CEO Jonathan Neman sold 1,010 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $40,410.10. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jonathan Neman sold 1,010 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $40.01, for a total value of $40,410.10. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,228,422.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mitch Reback sold 9,156 shares of Sweetgreen stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the sale, the chief financial officer now owns 379,181 shares of the company's stock, valued at $13,881,816.41. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,334 shares of company stock valued at $15,162,663 over the last ninety days. 21.52% of the stock is owned by insiders.

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.