Sweetgreen (NYSE:SG) Stock Rating Upgraded by Piper Sandler

Posted by Defense World Staff on Jul 31st, 2023

Sweetgreen (NYSE:SG – Get Free Report) was upgraded by equities researchers at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Monday, Briefing.com reports. The firm presently has a $19.00 price target on the stock, up from their previous price target of $13.00. Piper Sandler’s price objective suggests a potential upside of 34.75% from the stock’s current price.

SG has been the topic of a number of other reports. Citigroup dropped their target price on shares of Sweetgreen from $10.00 to $9.00 in a research note on Monday, April 24th. TD Cowen lowered their price target on shares of Sweetgreen from $16.00 to $14.00 and set a “market perform” rating on the stock in a research report on Friday. Finally, Bank of America raised shares of Sweetgreen from a “neutral” rating to a “buy” rating and upped their target price for the stock from $9.00 to $17.00 in a report on Thursday, July 6th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $13.13.

Sweetgreen Stock Performance

Sweetgreen stock opened at $14.10 on Monday. Sweetgreen has a fifty-two week low of $6.10 and a fifty-two week high of $21.66. The stock has a market cap of $1.57 billion, a PE ratio of -10.00 and a beta of 1.93. The firm’s 50-day simple moving average is $12.34 and its 200 day simple moving average is $9.90.

Sweetgreen (NYSE:SG – Get Free Report) last released its quarterly earnings results on Thursday, May 4th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.07. Sweetgreen had a negative net margin of 30.29% and a negative return on equity of 25.84%. The business had revenue of $125.06 million for the quarter, compared to analysts’ expectations of $125.57 million. As a group, analysts predict that Sweetgreen will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Sweetgreen

In other Sweetgreen news, insider Adrienne Gemperle sold 6,112 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $9.60, for a total transaction of $58,675.20. Following the completion of the sale, the insider now owns 139,911 shares of the company’s stock, valued at approximately $1,343,145.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Sweetgreen news, insider Adrienne Gemperle sold 6,112 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $9.60, for a total value of $58,675.20. Following the completion of the transaction, the insider now directly owns 139,911 shares in the company, valued at approximately $1,343,145.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mitch Reback sold 4,526 shares of the company’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $9.46, for a total transaction of $42,815.96. Following the completion of the transaction, the chief financial officer now owns 624,312 shares of the company’s stock, valued at $5,905,991.52. The disclosure for this sale can be found here. Insiders sold 73,293 shares of company stock valued at $692,707 in the last quarter. Company insiders own 22.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SG. Tower Research Capital LLC TRC increased its stake in shares of Sweetgreen by 394.8% in the 1st quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company’s stock worth $26,000 after acquiring an additional 2,586 shares in the last quarter. Paragon Advisors LLC bought a new position in shares of Sweetgreen in the 1st quarter worth about $30,000. Clear Street Markets LLC bought a new position in shares of Sweetgreen in the 4th quarter worth about $33,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Sweetgreen in the 4th quarter worth about $63,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in Sweetgreen during the 1st quarter valued at about $81,000. 72.54% of the stock is currently owned by institutional investors.

Sweetgreen Company Profile

(Get Free Report)

Sweetgreen, Inc, together with its subsidiaries, develops and operates fast-casual restaurants serving healthy foods prepared from seasonal and organic ingredients. The company also accepts orders through its online and mobile ordering platforms, as well as sells gift cards that can be redeemed in its restaurants.