What is William Blair’s Forecast for Sweetgreen Q3 Earnings?

Sweetgreen, Inc. (NYSE:SG) – Stock analysts at William Blair decreased their Q3 2024 earnings estimates for shares of Sweetgreen in a research report issued to clients and investors on Wednesday, October 23rd. William Blair analyst S. Zackfia now anticipates that the company will earn ($0.15) per share for the quarter, down from their previous estimate of ($0.14). The consensus estimate for Sweetgreen’s current full-year earnings is ($0.75) per share. William Blair also issued estimates for Sweetgreen’s Q4 2024 earnings at ($0.25) EPS, FY2024 earnings at ($0.73) EPS and FY2025 earnings at ($0.52) EPS.

A number of other analysts have also recently weighed in on SG. Oppenheimer upped their target price on shares of Sweetgreen from $36.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, August 15th. Piper Sandler reiterated a “neutral” rating and issued a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research note on Monday, August 19th. UBS Group raised their target price on Sweetgreen from $31.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup upped their price target on Sweetgreen from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Finally, Morgan Stanley lifted their price objective on Sweetgreen from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.20.

Sweetgreen Stock Up 2.3 %

Sweetgreen stock opened at $37.48 on Monday. Sweetgreen has a 12 month low of $8.64 and a 12 month high of $39.75. The stock has a market cap of $4.25 billion, a price-to-earnings ratio of -40.30 and a beta of 2.33. The business has a 50 day moving average price of $34.59 and a two-hundred day moving average price of $30.24.

Sweetgreen (NYSE:SG) last announced its earnings results on Thursday, August 8th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). Sweetgreen had a negative return on equity of 19.34% and a negative net margin of 14.33%. The company had revenue of $184.60 million for the quarter, compared to the consensus estimate of $180.79 million. During the same period last year, the firm posted ($0.20) EPS. The company’s revenue was up 21.0% compared to the same quarter last year.

Insider Buying and Selling at Sweetgreen

In related news, CEO Jonathan Neman sold 169,772 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $35.77, for a total value of $6,072,744.44. Following the completion of the sale, the chief executive officer now owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Sweetgreen news, CEO Jonathan Neman sold 169,772 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $35.77, for a total value of $6,072,744.44. Following the sale, the chief executive officer now directly owns 1,930,228 shares in the company, valued at approximately $69,044,255.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Nicolas Jammet sold 21,275 shares of Sweetgreen stock in a transaction on Friday, September 13th. The stock was sold at an average price of $35.10, for a total transaction of $746,752.50. Following the transaction, the insider now directly owns 1,930,233 shares in the company, valued at approximately $67,751,178.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 426,061 shares of company stock valued at $15,071,720. 21.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SG. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sweetgreen by 2.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,913 shares of the company’s stock valued at $990,000 after purchasing an additional 537 shares during the period. Zweig DiMenna Associates LLC bought a new position in shares of Sweetgreen during the third quarter worth about $3,329,000. PSI Advisors LLC acquired a new stake in Sweetgreen in the 3rd quarter valued at approximately $238,000. Brighton Jones LLC bought a new stake in Sweetgreen in the 3rd quarter valued at approximately $292,000. Finally, Precision Wealth Strategies LLC acquired a new position in Sweetgreen during the 3rd quarter worth approximately $227,000. Institutional investors own 95.75% of the company’s stock.

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.