Sweetgreen (SG) Scheduled to Post Earnings on Thursday

Sweetgreen (NYSE:SG) will be releasing its earnings data after the market closes on Thursday, May 9th. Analysts expect Sweetgreen to post earnings of ($0.20) per share for the quarter. Sweetgreen has set its Q1 2024 guidance at EPS and its FY 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Sweetgreen (NYSE:SG) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The company had revenue of $153.00 million during 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%. The company’s revenue was up 29.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.44) earnings per share. On average, analysts expect Sweetgreen to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sweetgreen Price Performance

Shares of NYSE SG opened at $22.75 on Tuesday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of -22.75 and a beta of 2.22. The firm’s 50 day simple moving average is $21.45 and its 200-day simple moving average is $14.45. Sweetgreen has a 12 month low of $8.64 and a 12 month high of $26.45.

Insider Buying and Selling

In related news, CEO Jonathan Neman sold 58,067 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $16.36, for a total transaction of $949,976.12. Following the completion of the sale, the chief executive officer now directly owns 2,100,000 shares in the company, valued at $34,356,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction, the chief financial officer now directly owns 432,393 shares in the company, valued at $5,188,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Neman sold 58,067 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $16.36, for a total transaction of $949,976.12. Following the completion of the sale, the chief executive officer now owns 2,100,000 shares of the company’s stock, valued at approximately $34,356,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 140,555 shares of company stock worth $2,214,389. Insiders own 21.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SG. Piper Sandler raised their price target on shares of Sweetgreen from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Oppenheimer lifted their price target on Sweetgreen from $17.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. TD Cowen reaffirmed a “hold” rating and issued a $17.00 price target on shares of Sweetgreen in a report on Wednesday, April 10th. JPMorgan Chase & Co. raised their price objective on Sweetgreen from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Citigroup boosted their price objective on Sweetgreen from $16.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.00.

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.