Sweetgreen (SG) Expected to Announce Earnings on Wednesday

Sweetgreen (NYSE:SG) is expected to be issuing its quarterly earnings data after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of ($0.21) per share and revenue of $162.70 million for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Sweetgreen Stock Up 4.3 %

Shares of SG stock opened at $22.78 on Tuesday. The firm has a fifty day moving average of $30.94 and a 200-day moving average of $34.41. Sweetgreen has a 12-month low of $11.21 and a 12-month high of $45.12. The company has a market capitalization of $2.63 billion, a price-to-earnings ratio of -29.20 and a beta of 2.37.

Wall Street Analysts Forecast Growth

SG has been the subject of several research reports. The Goldman Sachs Group reissued a “neutral” rating and set a $40.00 price objective on shares of Sweetgreen in a research report on Friday, November 8th. Morgan Stanley lowered their price objective on shares of Sweetgreen from $32.00 to $28.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. Citigroup lowered their price objective on shares of Sweetgreen from $49.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. Oppenheimer lowered their price objective on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research report on Tuesday, January 7th. Finally, UBS Group raised their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Insider Activity

In other news, CEO Jonathan Neman sold 41,805 shares of Sweetgreen stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.61, for a total value of $1,614,091.05. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $74,526,103.08. This trade represents a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Mitch Reback sold 10,926 shares of Sweetgreen stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $26.43, for a total transaction of $288,774.18. Following the completion of the transaction, the chief financial officer now directly owns 344,055 shares of the company’s stock, valued at approximately $9,093,373.65. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 521,281 shares of company stock valued at $19,865,616 in the last quarter. Company insiders own 21.52% of the company’s stock.

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.