Sweetgreen, Inc. (NYSE:SG) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Sweetgreen, Inc. (NYSE:SG - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eleven brokerages that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $39.80.

Several research analysts have recently weighed in on SG shares. Bank of America boosted their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, August 19th. Morgan Stanley upped their target price on shares of Sweetgreen from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Friday, August 9th. Piper Sandler reiterated a "neutral" rating and set a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. UBS Group increased their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Finally, Oppenheimer raised their price target on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th.

Sweetgreen Stock Up 12.0 %

Shares of NYSE SG traded up $4.06 during midday trading on Tuesday, hitting $37.89. The stock had a trading volume of 3,069,451 shares, compared to its average volume of 2,880,734. The business's 50 day moving average is $36.35 and its 200-day moving average is $32.02. Sweetgreen has a 52 week low of $9.21 and a 52 week high of $42.77. The company has a market cap of $4.38 billion, a P/E ratio of -46.64 and a beta of 2.32.

Insider Activity

In related news, CEO Jonathan Neman sold 1,010 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $77,228,422.28. The trade was a 0.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicolas Jammet sold 16,751 shares of Sweetgreen stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total transaction of $670,710.04. Following the sale, the insider now directly owns 1,930,233 shares in the company, valued at approximately $77,286,529.32. This trade represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 441,715 shares of company stock valued at $15,856,543 in the last three months. 21.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in shares of Sweetgreen during the third quarter worth $35,000. Quest Partners LLC acquired a new position in Sweetgreen in the 2nd quarter valued at $76,000. KBC Group NV increased its stake in Sweetgreen by 29.1% in the 3rd quarter. KBC Group NV now owns 3,127 shares of the company's stock valued at $111,000 after buying an additional 704 shares during the period. Daiwa Securities Group Inc. acquired a new position in Sweetgreen in the 3rd quarter valued at $155,000. Finally, Canton Hathaway LLC acquired a new position in Sweetgreen in the 3rd quarter valued at $177,000. Institutional investors and hedge funds 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.