Sweetgreen, Inc. (NYSE:SG) Receives $41.20 Average Price Target from Brokerages

Sweetgreen, Inc. (NYSE:SG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the twelve research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $41.20.

A number of brokerages have weighed in on SG. TD Cowen reiterated a "buy" rating and set a $45.00 price target on shares of Sweetgreen in a research report on Monday, November 18th. Oppenheimer decreased their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an "outperform" rating for the company in a research note on Tuesday, January 7th. KeyCorp began coverage on shares of Sweetgreen in a research report on Wednesday, December 11th. They issued a "sector weight" rating for the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Finally, UBS Group upped their price objective on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, November 8th.

Sweetgreen Stock Performance

SG stock traded up $0.13 during trading on Friday, reaching $33.03. The company had a trading volume of 2,033,924 shares, compared to its average volume of 2,552,066. The firm has a 50-day simple moving average of $34.43 and a 200-day simple moving average of $34.35. Sweetgreen has a twelve month low of $10.73 and a twelve month high of $45.12. The company has a market cap of $3.82 billion, a price-to-earnings ratio of -42.34 and a beta of 2.37.

Sweetgreen (NYSE:SG - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.02). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The firm had revenue of $173.43 million for the quarter, compared to analysts' expectations of $173.67 million. During the same period last year, the company posted ($0.22) earnings per share. Sell-side analysts expect that Sweetgreen will post -0.74 earnings per share for the current year.

Insider Transactions at Sweetgreen

In other Sweetgreen news, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total transaction of $663,525.00. Following the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at $86,860,260. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Wouleta Ayele sold 4,347 shares of Sweetgreen stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $34.05, for a total value of $148,015.35. Following the completion of the transaction, the chief technology officer now directly owns 140,302 shares of the company's stock, valued at $4,777,283.10. This represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 608,877 shares of company stock valued at $23,466,012 over the last ninety days. Corporate insiders own 21.52% of the company's stock.

Institutional Trading of Sweetgreen

Several hedge funds have recently bought and sold shares of SG. AQR Capital Management LLC bought a new position in shares of Sweetgreen in the second quarter valued at about $346,000. The Manufacturers Life Insurance Company lifted its position in shares of Sweetgreen by 14.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,630 shares of the company's stock valued at $1,586,000 after acquiring an additional 6,478 shares during the period. Cetera Investment Advisers raised its stake in Sweetgreen by 62.1% in the second quarter. Cetera Investment Advisers now owns 55,354 shares of the company's stock valued at $1,668,000 after purchasing an additional 21,203 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Sweetgreen during the second quarter worth about $4,969,000. Finally, Diversified Trust Co acquired a new stake in Sweetgreen during the third quarter worth about $298,000. 95.75% of the stock is currently owned by institutional investors and hedge funds.

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.