Sweetgreen (NYSE:SG) Given New $45.00 Price Target at TD Cowen

Sweetgreen (NYSE:SG - Free Report) had its price objective raised by TD Cowen from $43.00 to $45.00 in a report published on Friday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on the company. UBS Group raised their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $40.00 target price on shares of Sweetgreen in a research report on Friday. 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 report on Friday. Morgan Stanley upped their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Friday, August 9th. Finally, Citigroup raised their target price on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a "neutral" rating in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.80.

Sweetgreen Stock Down 5.9 %

Shares of SG traded down $2.51 during mid-day trading on Friday, hitting $39.69. 11,624,337 shares of the company traded hands, compared to its average volume of 2,871,673. The company has a market capitalization of $4.53 billion, a PE ratio of -49.00 and a beta of 2.32. The business has a 50 day moving average of $35.43 and a 200 day moving average of $31.21. Sweetgreen has a 1-year low of $8.64 and a 1-year high of $42.77.

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 analysts' consensus estimates of ($0.11) by ($0.02). The company 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 for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.20) EPS. As a group, research analysts expect that Sweetgreen will post -0.75 EPS for the current fiscal year.

Insider Activity at Sweetgreen

In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $102,793.61. Following the completion of the transaction, the chief technology officer now owns 144,649 shares in the company, valued at approximately $5,252,205.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $102,793.61. Following the sale, the chief technology officer now directly owns 144,649 shares of the company's stock, valued at approximately $5,252,205.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nathaniel Ru sold 9,250 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $28.74, for a total value of $265,845.00. Following the transaction, the insider now directly owns 1,952,129 shares of the company's stock, valued at approximately $56,104,187.46. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 466,022 shares of company stock worth $16,671,481. 21.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sweetgreen

Several institutional investors have recently bought and sold shares of SG. Moors & Cabot Inc. acquired a new stake in Sweetgreen during the 3rd quarter worth $505,000. Segall Bryant & Hamill LLC purchased a new stake in Sweetgreen during the 3rd quarter valued at about $6,191,000. GLOBALT Investments LLC GA acquired a new stake in Sweetgreen in the 3rd quarter valued at about $591,000. Quest Partners LLC lifted its stake in Sweetgreen by 68.4% in the 3rd quarter. Quest Partners LLC now owns 4,256 shares of the company's stock worth $151,000 after purchasing an additional 1,728 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in shares of Sweetgreen by 91.9% during the 3rd quarter. Natixis Advisors LLC now owns 30,380 shares of the company's stock worth $1,077,000 after purchasing an additional 14,545 shares during the last quarter. 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.