Sweetgreen (NYSE:SG) Given “Neutral” Rating at The Goldman Sachs Group

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

A number of other equities research analysts also recently commented on SG. UBS Group lifted their target price on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Morgan Stanley lifted their price objective on shares of Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. Citigroup increased their price objective on shares of Sweetgreen from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. TD Cowen reissued a “buy” rating and set a $43.00 target price on shares of Sweetgreen in a report on Friday, September 27th. Finally, Bank of America upped their price target on shares of Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Sweetgreen currently has a consensus rating of “Moderate Buy” and an average price target of $38.30.

Sweetgreen Stock Performance

Shares of NYSE SG opened at $42.24 on Friday. Sweetgreen has a fifty-two week low of $8.64 and a fifty-two week high of $42.77. The company has a market cap of $4.82 billion, a PE ratio of -51.51 and a beta of 2.32. The business 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 posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The company had revenue of $184.60 million for the quarter, compared to analyst estimates of $180.79 million. Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The company’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. On average, sell-side analysts predict that Sweetgreen will post -0.75 earnings per share for the current fiscal year.

Insider Transactions at Sweetgreen

In other news, insider Nicolas Jammet sold 16,751 shares of the firm’s 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 directly owns 1,930,233 shares in the company, valued at $77,286,529.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Nicolas Jammet sold 16,751 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $40.04, for a total transaction of $670,710.04. Following the transaction, the insider now owns 1,930,233 shares in the company, valued at $77,286,529.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Adrienne Gemperle sold 3,868 shares of the company’s 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 transaction, the insider now owns 114,842 shares of the company’s stock, valued at $4,169,913.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 466,022 shares of company stock valued at $16,671,481 in the last ninety days. 21.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in shares of Sweetgreen during the first quarter valued at approximately $490,000. Oppenheimer & Co. Inc. acquired a new position in Sweetgreen in the 1st quarter valued at $922,000. Swiss National Bank lifted its holdings in Sweetgreen by 0.9% in the 1st quarter. Swiss National Bank now owns 176,600 shares of the company’s stock valued at $4,461,000 after purchasing an additional 1,500 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Sweetgreen during the 1st quarter worth $1,659,000. Finally, Sei Investments Co. purchased a new stake in shares of Sweetgreen during the first quarter worth $1,110,000. Institutional investors and hedge funds own 95.75% 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.