Sweetgreen (SG) Set to Announce Earnings on Thursday

Sweetgreen (NYSE:SG) will post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Sweetgreen to post earnings of ($0.16) per share for the quarter. Sweetgreen has set its FY 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

Sweetgreen (NYSE:SG) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share 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 firm had revenue of $184.60 million during the quarter, compared to analyst estimates of $180.79 million. During the same period last year, the business earned ($0.20) EPS. The firm’s revenue was up 21.0% on a year-over-year basis. On average, analysts expect Sweetgreen to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Sweetgreen Stock Down 2.7 %

SG stock opened at $37.49 on Thursday. Sweetgreen has a fifty-two week low of $8.64 and a fifty-two week high of $40.20. The firm’s 50-day simple moving average is $34.84 and its 200 day simple moving average is $30.51. The stock has a market cap of $4.28 billion, a PE ratio of -45.71 and a beta of 2.33.

Insiders Place Their Bets

In other Sweetgreen news, CTO Wouleta Ayele sold 2,831 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $36.31, for a total value of $102,793.61. Following the sale, the chief technology officer now directly owns 144,649 shares in the company, valued at $5,252,205.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Mitch Reback sold 9,156 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $36.61, for a total transaction of $335,201.16. Following the completion of the transaction, the chief financial officer now directly owns 379,181 shares of the company’s stock, valued at approximately $13,881,816.41. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Wouleta Ayele sold 2,831 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $36.31, for a total transaction of $102,793.61. Following the transaction, the chief technology officer now directly owns 144,649 shares of the company’s stock, valued at $5,252,205.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 428,334 shares of company stock worth $15,162,663 in the last ninety days. Insiders own 21.52% of the company’s stock.

Analyst Ratings Changes

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

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.