Sweetgreen (NYSE:SG – Get Free Report) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Friday, Marketbeat reports. The brokerage currently has a $13.00 price objective on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 44.70% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Oppenheimer lifted their price target on shares of Sweetgreen from $9.00 to $10.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank Of Canada lowered their price target on shares of Sweetgreen from $8.00 to $7.00 and set an “outperform” rating on the stock in a report on Friday, February 27th. DA Davidson lifted their price target on shares of Sweetgreen from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Piper Sandler lowered their price target on shares of Sweetgreen from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Sweetgreen from $5.00 to $5.60 and gave the company a “sell” rating in a report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.98.
Check Out Our Latest Stock Analysis on SG
Sweetgreen Stock Down 0.3%
Sweetgreen (NYSE:SG – Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.04). The business had revenue of $161.52 million for the quarter, compared to the consensus estimate of $163.95 million. Sweetgreen had a net margin of 2.49% and a negative return on equity of 33.07%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share. Analysts anticipate that Sweetgreen will post -0.76 earnings per share for the current year.
Insider Buying and Selling at Sweetgreen
In related news, insider Nicolas Jammet bought 4,428 shares of the stock in a transaction dated Thursday, March 5th. The shares were purchased at an average price of $5.71 per share, with a total value of $25,283.88. Following the completion of the acquisition, the insider owned 22,543 shares of the company’s stock, valued at $128,720.53. This represents a 24.44% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Goldman Sachs Group Inc purchased 594,553 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were acquired at an average cost of $5.69 per share, for a total transaction of $3,383,006.57. Following the purchase, the insider owned 11,900,255 shares of the company’s stock, valued at $67,712,450.95. This represents a 5.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 19.78% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Sweetgreen
A number of hedge funds have recently bought and sold shares of the business. Larson Financial Group LLC raised its stake in Sweetgreen by 165.8% during the third quarter. Larson Financial Group LLC now owns 3,766 shares of the company’s stock valued at $30,000 after purchasing an additional 2,349 shares in the last quarter. Certuity LLC raised its stake in Sweetgreen by 0.8% during the fourth quarter. Certuity LLC now owns 302,500 shares of the company’s stock valued at $2,045,000 after purchasing an additional 2,500 shares in the last quarter. Kingswood Wealth Advisors LLC increased its position in Sweetgreen by 18.7% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 17,202 shares of the company’s stock valued at $116,000 after acquiring an additional 2,715 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Sweetgreen by 26.3% during the second quarter. Tower Research Capital LLC TRC now owns 14,362 shares of the company’s stock valued at $214,000 after acquiring an additional 2,987 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Sweetgreen by 124.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 6,292 shares of the company’s stock valued at $50,000 after acquiring an additional 3,484 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.
Sweetgreen Company Profile
Sweetgreen, Inc is a fast-casual restaurant chain specializing in salads, grain bowls and warm bowls that emphasize fresh, locally sourced ingredients. Since its founding in 2007 by Jonathan Neman, Nicolas Jammet and Nathaniel Ru, Sweetgreen has focused on sustainable agriculture, working with regional farmers across the United States to provide seasonal produce and promote environmentally responsible sourcing practices. The company’s menu features a variety of plant-forward options, including custom-build salads, chef-curated bowls and limited-time offerings that reflect changing harvests.
Sweetgreen operates a technology-driven service model that combines in-store experiences with digital ordering through its mobile app and website.
Featured Stories
- Five stocks we like better than Sweetgreen
- Deere Beats Q2 Estimates, But Ag Weakness Weighs on Outlook
- Overextended, e.l.f. Beauty Is Primed to Rebound in Back Half
- Biogen Stock Slides After Trial Miss, But Analysts Stay Bullish
- Intuit’s Great SaaS Reset: Fired By AI
Receive News & Ratings for Sweetgreen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sweetgreen and related companies with MarketBeat.com's FREE daily email newsletter.
