Shares of Sweetgreen, Inc. (NYSE:SG – Get Free Report) dropped 8.4% during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $32.00 to $28.00. Morgan Stanley currently has an equal weight rating on the stock. Sweetgreen traded as low as $31.06 and last traded at $30.67. Approximately 493,586 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,061,860 shares. The stock had previously closed at $33.50.
SG has been the topic of a number of other reports. UBS Group raised their target price on shares of Sweetgreen from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Oppenheimer dropped their target price on shares of Sweetgreen from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Tuesday, January 7th. The Goldman Sachs Group reiterated a “neutral” rating and set a $40.00 price target on shares of Sweetgreen in a research report on Friday, November 8th. TD Cowen reissued a “buy” rating and issued a $45.00 target price on shares of Sweetgreen in a research note on Monday, November 18th. Finally, Citigroup upgraded Sweetgreen from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $44.00 to $49.00 in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $41.20.
View Our Latest Analysis on Sweetgreen
Insider Activity at Sweetgreen
Hedge Funds Weigh In On Sweetgreen
Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new stake in shares of Sweetgreen during the second quarter valued at approximately $279,000. American Century Companies Inc. raised its stake in shares of Sweetgreen by 795.0% during the 2nd quarter. American Century Companies Inc. now owns 101,585 shares of the company’s stock valued at $3,062,000 after purchasing an additional 90,235 shares during the period. Dimensional Fund Advisors LP increased its stake in Sweetgreen by 2.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,763,572 shares of the company’s stock worth $53,151,000 after acquiring an additional 39,823 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in Sweetgreen in the 2nd quarter worth about $285,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Sweetgreen in the 2nd quarter worth about $1,019,000. 95.75% of the stock is currently owned by institutional investors.
Sweetgreen Trading Down 4.5 %
The company has a market capitalization of $3.37 billion, a PE ratio of -37.35 and a beta of 2.38. The firm has a fifty day moving average of $35.64 and a two-hundred day moving average of $33.85.
Sweetgreen (NYSE:SG – Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Sweetgreen had a negative return on equity of 18.82% and a negative net margin of 13.27%. The firm had revenue of $173.43 million during the quarter, compared to the consensus estimate of $173.67 million. During the same period in the prior year, the company posted ($0.22) EPS. On average, equities analysts expect that Sweetgreen, Inc. will post -0.74 EPS for the current fiscal year.
Sweetgreen Company Profile
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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