TD Cowen Increases Sweetgreen (NYSE:SG) Price Target to $45.00

Sweetgreen (NYSE:SG) had its price objective boosted by research analysts at TD Cowen from $43.00 to $45.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 13.38% from the company’s current price.

Several other equities research analysts also recently issued reports on SG. Citigroup increased their price objective on Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Oppenheimer upped their price objective on Sweetgreen from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley raised their target price on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. 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 note on Friday. Finally, Piper Sandler reissued a “neutral” rating and set a $39.00 price objective (up previously 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.80.

Sweetgreen Stock Performance

NYSE:SG opened at $39.69 on Friday. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of -48.40 and a beta of 2.32. Sweetgreen has a one year low of $8.64 and a one year high of $42.77. The business’s 50-day simple moving average is $35.59 and its 200 day simple moving average is $31.40.

Sweetgreen (NYSE:SG) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. During the same period in the previous year, the company earned ($0.20) EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts predict that Sweetgreen will post -0.75 EPS for the current year.

Insider Transactions at Sweetgreen

In related news, insider Adrienne Gemperle sold 3,868 shares of Sweetgreen stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the completion of the transaction, the insider now owns 114,842 shares in the company, valued at approximately $4,169,913.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Adrienne Gemperle sold 3,868 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $140,447.08. Following the sale, the insider now directly owns 114,842 shares of the company’s stock, valued at approximately $4,169,913.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Nicolas Jammet sold 16,751 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total transaction of $670,710.04. Following the sale, the insider now owns 1,930,233 shares in the company, valued at $77,286,529.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 466,022 shares of company stock worth $16,671,481 in the last three months. Insiders own 21.52% of the company’s stock.

Institutional Trading of Sweetgreen

Several large investors have recently bought and sold shares of SG. Intech Investment Management LLC acquired a new stake in shares of Sweetgreen during the 3rd quarter valued at $1,045,000. Moors & Cabot Inc. acquired a new position in shares of Sweetgreen during the third quarter worth $505,000. Segall Bryant & Hamill LLC bought a new position in shares of Sweetgreen during the third quarter worth about $6,191,000. GLOBALT Investments LLC GA acquired a new position in shares of Sweetgreen in the third quarter worth approximately $591,000. Finally, Quest Partners LLC boosted its holdings in Sweetgreen by 68.4% in the third quarter. Quest Partners LLC now owns 4,256 shares of the company’s stock valued at $151,000 after acquiring an additional 1,728 shares during the last quarter. 95.75% of the stock is 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.