Sweetgreen (NYSE:SG) Given New $45.00 Price Target at UBS Group

Sweetgreen (NYSE:SG) had its price target raised by equities researchers at UBS Group from $37.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target suggests a potential upside of 12.00% from the company’s current price.

Other analysts also recently issued research reports about the company. Piper Sandler reaffirmed a “neutral” rating and issued a $39.00 price objective (up previously from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. TD Cowen restated a “buy” rating and issued a $43.00 price target on shares of Sweetgreen in a research report on Friday, September 27th. Citigroup increased their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Oppenheimer boosted their target price on shares of Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Morgan Stanley increased their price target 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. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Sweetgreen presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Trading Down 4.8 %

Sweetgreen stock traded down $2.02 during midday trading on Friday, hitting $40.18. The stock had a trading volume of 7,285,306 shares, compared to its average volume of 2,851,693. Sweetgreen has a 52-week low of $8.64 and a 52-week high of $42.77. The company has a market capitalization of $4.59 billion, a PE ratio of -49.00 and a beta of 2.32. The firm’s fifty day moving average is $35.43 and its two-hundred day moving average is $31.21.

Sweetgreen (NYSE:SG) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative net margin of 14.33% and a negative return on equity of 19.34%. The business had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. During the same period in the prior year, the business earned ($0.20) earnings per share. Sweetgreen’s revenue was up 21.0% compared to the same quarter last year. As a group, equities research analysts predict that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at $69,044,255.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Jonathan Neman sold 169,772 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $35.77, for a total transaction of $6,072,744.44. Following the completion of the transaction, the chief executive officer now owns 1,930,228 shares in the company, valued at $69,044,255.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicolas Jammet sold 16,751 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $40.04, for a total transaction of $670,710.04. Following the sale, the insider now directly owns 1,930,233 shares of the company’s stock, valued at $77,286,529.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 466,022 shares of company stock valued at $16,671,481 over the last 90 days. Corporate insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

A number of institutional investors have recently bought and sold shares of the stock. Driehaus Capital Management LLC lifted its position in Sweetgreen by 231.8% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock worth $81,028,000 after acquiring an additional 1,878,216 shares during the period. Hood River Capital Management LLC acquired a new stake in shares of Sweetgreen during the first quarter worth about $29,105,000. Allspring Global Investments Holdings LLC purchased a new stake in Sweetgreen in the second quarter valued at approximately $33,449,000. Renaissance Technologies LLC purchased a new stake in Sweetgreen in the second quarter valued at approximately $29,109,000. Finally, Baillie Gifford & Co. increased its holdings in Sweetgreen by 6.2% in the 2nd quarter. Baillie Gifford & Co. now owns 12,326,336 shares of the company’s stock worth $371,516,000 after buying an additional 721,740 shares during the period. 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.