Oppenheimer Increases Sweetgreen (NYSE:SG) Price Target to $34.00

Sweetgreen (NYSE:SGGet Free Report) had its price target increased by investment analysts at Oppenheimer from $17.00 to $34.00 in a research note issued on Monday, Briefing.com reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 34.60% from the company’s current price.

A number of other research firms also recently commented on SG. TD Cowen boosted their target price on Sweetgreen from $15.00 to $17.00 and gave the stock a “market perform” rating in a research report on Thursday, March 7th. Morgan Stanley boosted their target price on Sweetgreen from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Friday, March 1st. Royal Bank of Canada boosted their target price on Sweetgreen from $13.00 to $20.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Citigroup boosted their price objective on Sweetgreen from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Sweetgreen has a consensus rating of “Moderate Buy” and an average target price of $19.88.

View Our Latest Research Report on SG

Sweetgreen Stock Performance

NYSE SG opened at $25.26 on Monday. The business’s fifty day moving average is $15.77 and its 200 day moving average is $12.49. Sweetgreen has a fifty-two week low of $6.38 and a fifty-two week high of $26.15. The company has a market capitalization of $2.85 billion, a PE ratio of -25.26 and a beta of 2.19.

Sweetgreen (NYSE:SGGet Free Report) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Sweetgreen had a negative net margin of 19.41% and a negative return on equity of 21.58%. The business had revenue of $153.00 million during the quarter, compared to analysts’ expectations of $152.04 million. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. Sweetgreen’s revenue was up 29.0% on a year-over-year basis. On average, sell-side analysts forecast that Sweetgreen will post -0.65 EPS for the current year.

Insider Transactions at Sweetgreen

In other news, insider Adrienne Gemperle sold 4,286 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $12.32, for a total value of $52,803.52. Following the sale, the insider now directly owns 139,693 shares in the company, valued at $1,721,017.76. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Sweetgreen news, CEO Jonathan Neman sold 5,000 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $10.47, for a total transaction of $52,350.00. Following the transaction, the chief executive officer now directly owns 2,100,000 shares in the company, valued at approximately $21,987,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adrienne Gemperle sold 4,286 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $12.32, for a total value of $52,803.52. Following the transaction, the insider now owns 139,693 shares in the company, valued at $1,721,017.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,555 shares of company stock worth $2,266,739. 22.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in Sweetgreen by 0.6% during the 3rd quarter. FMR LLC now owns 14,810,112 shares of the company’s stock worth $174,019,000 after purchasing an additional 84,375 shares during the period. Baillie Gifford & Co. boosted its position in Sweetgreen by 31.9% during the 3rd quarter. Baillie Gifford & Co. now owns 12,009,929 shares of the company’s stock valued at $141,117,000 after acquiring an additional 2,907,749 shares in the last quarter. Vanguard Group Inc. boosted its position in Sweetgreen by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 8,350,552 shares of the company’s stock valued at $94,361,000 after acquiring an additional 224,522 shares in the last quarter. BlackRock Inc. boosted its position in Sweetgreen by 13.2% during the 2nd quarter. BlackRock Inc. now owns 6,217,233 shares of the company’s stock valued at $79,705,000 after acquiring an additional 723,876 shares in the last quarter. Finally, State Street Corp boosted its position in Sweetgreen by 10.9% during the 2nd quarter. State Street Corp now owns 1,738,795 shares of the company’s stock valued at $22,291,000 after acquiring an additional 171,213 shares in the last quarter. 95.75% of the stock is currently owned by hedge funds and other institutional investors.

About Sweetgreen

(Get Free Report)

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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