Sweetgreen (NYSE:SG) Price Target Raised to $45.00

Sweetgreen (NYSE:SG - Get Free Report) had its target price increased by analysts at Oppenheimer from $40.00 to $45.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Oppenheimer's price objective would indicate a potential upside of 13.38% from the stock's current price.

Several other research firms also recently weighed in on SG. Morgan Stanley raised their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Bank of America lifted their price target on Sweetgreen from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, August 19th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a research note on Friday. TD Cowen reiterated a "buy" rating and issued a $43.00 price objective on shares of Sweetgreen in a report on Friday, September 27th. Finally, UBS Group boosted their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.80.

Sweetgreen Price Performance

SG traded down $2.51 on Friday, hitting $39.69. 11,624,337 shares of the stock were exchanged, compared to its average volume of 2,871,673. Sweetgreen has a 12 month low of $8.64 and a 12 month high of $42.77. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of -49.00 and a beta of 2.32. The business has a 50-day moving average of $35.43 and a two-hundred day moving average of $31.21.

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 the consensus estimate of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business had revenue of $184.60 million during the quarter, compared to the consensus estimate of $180.79 million. During the same quarter in the previous year, the business posted ($0.20) EPS. The company's revenue for the quarter was up 21.0% on a year-over-year basis. Equities research analysts expect that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Adrienne Gemperle sold 3,868 shares of the firm's 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 transaction, the insider now directly owns 114,842 shares of the company's stock, valued at approximately $4,169,913.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Wouleta Ayele sold 2,831 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $102,793.61. Following the completion of the sale, the chief technology officer now owns 144,649 shares of the company's stock, valued at approximately $5,252,205.19. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adrienne Gemperle sold 3,868 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the sale, the insider now directly 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. In the last 90 days, insiders sold 466,022 shares of company stock worth $16,671,481. 21.52% of the stock is currently owned by insiders.

Institutional Trading of Sweetgreen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SG. Quantbot Technologies LP bought a new position in Sweetgreen in the first quarter worth $490,000. Oppenheimer & Co. Inc. purchased a new position in Sweetgreen during the 1st quarter valued at about $922,000. Swiss National Bank boosted its stake in Sweetgreen by 0.9% during the first quarter. Swiss National Bank now owns 176,600 shares of the company's stock worth $4,461,000 after acquiring an additional 1,500 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Sweetgreen in the first quarter worth about $1,659,000. Finally, Sei Investments Co. purchased a new stake in shares of Sweetgreen in the 1st quarter worth approximately $1,110,000. Hedge funds and other institutional investors own 95.75% of the company's stock.

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.