Sweetgreen (NYSE:SG) Given New $28.00 Price Target at JPMorgan Chase & Co.

Sweetgreen (NYSE:SGFree Report) had its price objective increased by JPMorgan Chase & Co. from $20.00 to $28.00 in a research report sent to investors on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts have also weighed in on the stock. Citigroup raised their price objective on shares of Sweetgreen from $12.00 to $13.00 and gave the stock a neutral rating in a report on Wednesday, February 21st. Piper Sandler lifted their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the company an overweight rating in a report on Friday, March 1st. Morgan Stanley lifted their price target on shares of Sweetgreen from $10.00 to $11.00 and gave the company an underweight rating in a report on Friday, March 1st. Royal Bank of Canada lifted their price target on shares of Sweetgreen from $13.00 to $20.00 and gave the company an outperform rating in a report on Monday, March 4th. Finally, TD Cowen lifted their price target on shares of Sweetgreen from $15.00 to $17.00 and gave the company a market perform rating in a report on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Sweetgreen presently has an average rating of Moderate Buy and an average price target of $17.75.

Read Our Latest Stock Analysis on Sweetgreen

Sweetgreen Price Performance

Shares of SG stock opened at $22.96 on Tuesday. The company’s fifty day simple moving average is $13.22 and its 200-day simple moving average is $11.79. Sweetgreen has a 52 week low of $6.10 and a 52 week high of $23.10.

Sweetgreen (NYSE:SGGet Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The firm had revenue of $153.00 million for the quarter, compared to analyst estimates of $152.04 million. Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. Sweetgreen’s revenue for the quarter was up 29.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.44) earnings per share. As a group, research analysts forecast that Sweetgreen will post -0.66 earnings per share for the current year.

Insiders Place Their Bets

In other Sweetgreen news, CFO Mitch Reback sold 10,288 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $12.00, for a total transaction of $123,456.00. Following the sale, the chief financial officer now directly owns 432,393 shares in the company, valued at approximately $5,188,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Adrienne Gemperle sold 4,000 shares of Sweetgreen stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $16.00, for a total value of $64,000.00. Following the transaction, the insider now directly owns 129,407 shares of the company’s stock, valued at $2,070,512. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Mitch Reback sold 10,288 shares of Sweetgreen stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $12.00, for a total transaction of $123,456.00. Following the completion of the transaction, the chief financial officer now directly owns 432,393 shares in the company, valued at $5,188,716. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,555 shares of company stock worth $2,266,739. 22.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bourgeon Capital Management LLC acquired a new stake in Sweetgreen in the third quarter valued at approximately $29,000. Tower Research Capital LLC TRC raised its stake in Sweetgreen by 394.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company’s stock valued at $26,000 after purchasing an additional 2,586 shares during the last quarter. Clear Street Markets LLC acquired a new position in Sweetgreen during the 4th quarter valued at $33,000. Asset Dedication LLC bought a new stake in Sweetgreen in the 2nd quarter valued at $58,000. Finally, Comerica Bank bought a new stake in Sweetgreen in the 2nd quarter valued at $59,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

About Sweetgreen

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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.

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Analyst Recommendations for Sweetgreen (NYSE:SG)

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