Sweetgreen’s (SG) Neutral Rating Reiterated at The Goldman Sachs Group

Sweetgreen (NYSE:SG)‘s stock had its “neutral” rating reiterated by investment analysts at The Goldman Sachs Group in a research note issued on Friday, MarketBeat reports. They currently have a $40.00 price target on the stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 5.30% from the company’s current price.

Other analysts have also recently issued research reports about the company. Citigroup increased their target price on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Oppenheimer raised their price target on Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Morgan Stanley raised their target price 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. Bank of America lifted their price objective on shares of Sweetgreen from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, August 19th. Finally, Piper Sandler reissued a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.30.

Sweetgreen Trading Up 1.4 %

Shares of SG stock opened at $42.24 on Friday. Sweetgreen has a 12 month low of $8.64 and a 12 month high of $42.77. The stock has a market cap of $4.82 billion, a P/E ratio of -51.51 and a beta of 2.32. The company has a 50 day simple moving average of $35.43 and a two-hundred day simple moving average of $31.21.

Sweetgreen (NYSE:SG) last announced its quarterly earnings data 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). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The firm had revenue of $184.60 million during the quarter, compared to analysts’ expectations of $180.79 million. During the same period last year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. As a group, equities analysts forecast that Sweetgreen will post -0.75 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Adrienne Gemperle sold 3,868 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the sale, the insider now directly owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Wouleta Ayele sold 2,831 shares of the business’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 completion of the sale, the chief technology officer now owns 144,649 shares in the company, valued at approximately $5,252,205.19. The trade was 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 the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total value of $140,447.08. Following the transaction, the insider now owns 114,842 shares in the company, valued at $4,169,913.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 466,022 shares of company stock valued at $16,671,481. Insiders own 21.52% of the company’s stock.

Institutional Investors Weigh In On Sweetgreen

Hedge funds have recently made changes to their positions in the company. Driehaus Capital Management LLC increased its stake in shares of Sweetgreen by 231.8% during the second quarter. Driehaus Capital Management LLC now owns 2,688,403 shares of the company’s stock valued at $81,028,000 after buying an additional 1,878,216 shares during the period. Hood River Capital Management LLC bought a new stake in shares of Sweetgreen in the 1st quarter valued at about $29,105,000. Allspring Global Investments Holdings LLC purchased a new stake in Sweetgreen during the second quarter worth $33,449,000. Renaissance Technologies LLC purchased a new position in shares of Sweetgreen in the 2nd quarter valued at $29,109,000. Finally, Baillie Gifford & Co. raised its position in shares of 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 acquiring an additional 721,740 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

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.