Sweetgreen (NYSE:SG) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of Sweetgreen (NYSE:SGGet Free Report) in a research note issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $39.00 price target on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 23.65% from the stock’s previous close.

SG has been the subject of a number of other research reports. TD Cowen boosted their price objective on shares of Sweetgreen from $22.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. Royal Bank of Canada boosted their price objective on shares of Sweetgreen from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, June 7th. JPMorgan Chase & Co. boosted their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Morgan Stanley boosted their price objective on shares of Sweetgreen from $16.00 to $17.00 and gave the stock an “underweight” rating in a research note on Friday, May 10th. Finally, Piper Sandler boosted their price objective on shares of Sweetgreen from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Sweetgreen currently has an average rating of “Moderate Buy” and an average target price of $29.67.

Check Out Our Latest Analysis on SG

Sweetgreen Stock Performance

Shares of NYSE SG opened at $31.54 on Thursday. The firm has a market capitalization of $3.57 billion, a price-to-earnings ratio of -33.91 and a beta of 2.34. The stock has a 50 day moving average price of $27.42 and a 200 day moving average price of $18.74. Sweetgreen has a 52-week low of $8.64 and a 52-week high of $36.72.

Sweetgreen (NYSE:SGGet Free Report) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The firm had revenue of $157.85 million during the quarter, compared to analysts’ expectations of $152.02 million. Sweetgreen had a negative net margin of 17.15% and a negative return on equity of 20.74%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.29) EPS. Analysts forecast that Sweetgreen will post -0.73 earnings per share for the current year.

Insider Transactions at Sweetgreen

In related news, CEO Jonathan Neman sold 200,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $31.30, for a total value of $6,260,000.00. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $65,730,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jonathan Neman sold 200,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $31.30, for a total value of $6,260,000.00. Following the completion of the transaction, the chief executive officer now owns 2,100,000 shares in the company, valued at approximately $65,730,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Wouleta Ayele sold 2,748 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $31.35, for a total value of $86,149.80. Following the completion of the transaction, the chief technology officer now owns 147,480 shares of the company’s stock, valued at approximately $4,623,498. The disclosure for this sale can be found here. Over the last three months, insiders have sold 440,692 shares of company stock valued at $13,738,038. Corporate insiders own 21.52% of the company’s stock.

Hedge Funds Weigh In On Sweetgreen

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SG. FMR LLC raised its stake in shares of Sweetgreen by 0.6% during the 3rd quarter. FMR LLC now owns 14,810,112 shares of the company’s stock valued at $174,019,000 after buying an additional 84,375 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Sweetgreen by 31.9% during the 3rd quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after buying an additional 2,907,749 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Sweetgreen by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 8,420,947 shares of the company’s stock valued at $212,713,000 after buying an additional 70,395 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sweetgreen by 38.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,729,983 shares of the company’s stock valued at $19,549,000 after buying an additional 476,998 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Sweetgreen by 1,435.2% during the 3rd quarter. Invesco Ltd. now owns 1,674,791 shares of the company’s stock valued at $19,679,000 after buying an additional 1,565,700 shares during the last quarter. Hedge funds and other institutional investors own 95.75% of the company’s stock.

Sweetgreen Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Sweetgreen (NYSE:SG)

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