The Goldman Sachs Group Reiterates Neutral Rating for Sweetgreen (NYSE:SG)

Sweetgreen (NYSE:SG - Get Free Report)'s stock had its "neutral" rating reiterated by equities research analysts at The Goldman Sachs Group in a note issued to investors on Friday, Marketbeat reports. They currently have a $40.00 price target on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 0.78% from the stock's current price.

Several other brokerages have also weighed in on SG. Citigroup increased their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, August 9th. TD Cowen restated a "buy" rating and issued a $43.00 price objective on shares of Sweetgreen in a report on Friday, September 27th. UBS Group increased their target price on shares of Sweetgreen from $31.00 to $37.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Oppenheimer boosted their price target on shares of Sweetgreen from $36.00 to $40.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. Finally, Piper Sandler reaffirmed 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. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.80.

Sweetgreen Price Performance

Sweetgreen stock traded down $2.51 during trading on Friday, reaching $39.69. 11,581,817 shares of the company were exchanged, compared to its average volume of 2,871,492. The stock's 50 day simple moving average is $35.43 and its two-hundred day simple moving average is $31.21. The company has a market capitalization of $4.53 billion, a P/E ratio of -49.00 and a beta of 2.32. Sweetgreen has a 52-week low of $8.64 and a 52-week high of $42.77.

Sweetgreen (NYSE:SG - Get Free Report) last announced 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). The firm had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The company's revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) EPS. As a group, equities analysts forecast that Sweetgreen will post -0.75 earnings per share for the current year.

Insider Activity at Sweetgreen

In other Sweetgreen news, insider Nicolas Jammet sold 16,751 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total value of $670,710.04. Following the completion of the transaction, the insider now owns 1,930,233 shares in the company, valued at $77,286,529.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Sweetgreen news, insider Nicolas Jammet sold 16,751 shares of Sweetgreen stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total value of $670,710.04. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at approximately $77,286,529.32. The trade was 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, CEO Jonathan Neman sold 20,937 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.03, for a total value of $838,108.11. Following the transaction, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $77,267,026.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 466,022 shares of company stock valued at $16,671,481 in the last ninety days. Insiders own 21.52% of the company's stock.

Institutional Trading of Sweetgreen

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management acquired a new stake in Sweetgreen in the third quarter valued at $35,000. Quest Partners LLC purchased a new stake in shares of Sweetgreen during the 2nd quarter worth approximately $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 purchasing an additional 704 shares in the last quarter. Atomi Financial Group Inc. acquired a new position in Sweetgreen during the third quarter worth $216,000. Finally, Versor Investments LP purchased a new stake in Sweetgreen during the second quarter worth $217,000. Hedge funds and other 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.