Analysts Offer Predictions for Sweetgreen FY2024 Earnings

Sweetgreen, Inc. (NYSE:SG) – Equities researchers at KeyCorp issued their FY2024 earnings per share estimates for shares of Sweetgreen in a report issued on Tuesday, December 10th. KeyCorp analyst E. Gonzalez expects that the company will earn ($0.79) per share for the year. KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Sweetgreen’s current full-year earnings is ($0.73) per share. KeyCorp also issued estimates for Sweetgreen’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at ($0.07) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.59) EPS, Q1 2026 earnings at ($0.14) EPS, Q2 2026 earnings at $0.03 EPS, Q3 2026 earnings at ($0.07) EPS and FY2026 earnings at ($0.33) EPS.

A number of other equities analysts have also weighed in on SG. UBS Group upped their target price on Sweetgreen from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Oppenheimer upped their target price on Sweetgreen from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $40.00 target price on shares of Sweetgreen in a research note on Friday, November 8th. Bank of America increased their price objective on Sweetgreen from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, August 19th. Finally, Piper Sandler reiterated a “neutral” rating and set a $39.00 price objective (up from $33.00) on shares of Sweetgreen in a research report on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.80.

Sweetgreen Stock Down 8.7 %

Shares of NYSE SG opened at $34.47 on Friday. The firm has a market capitalization of $3.99 billion, a P/E ratio of -44.19 and a beta of 2.32. The stock’s 50-day simple moving average is $38.37 and its two-hundred day simple moving average is $33.38. Sweetgreen has a twelve month low of $9.66 and a twelve month high of $45.12.

Insider Activity

In other Sweetgreen news, CFO Mitch Reback sold 72,000 shares of Sweetgreen stock in a transaction on Monday, December 9th. The stock was sold at an average price of $37.77, for a total transaction of $2,719,440.00. Following the completion of the transaction, the chief financial officer now owns 43,901 shares in the company, valued at approximately $1,658,140.77. The trade was a 62.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Neman sold 14,745 shares of Sweetgreen stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.00, for a total value of $663,525.00. Following the transaction, the chief executive officer now owns 1,930,228 shares of the company’s stock, valued at $86,860,260. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 470,639 shares of company stock worth $18,379,124 in the last quarter. 21.52% of the stock is owned by company insiders.

Institutional Trading of Sweetgreen

Institutional investors and hedge funds have recently modified their holdings of the business. GLOBALT Investments LLC GA bought a new stake in shares of Sweetgreen in the 3rd quarter worth $591,000. Oliver Luxxe Assets LLC bought a new stake in shares of Sweetgreen in the 3rd quarter worth $1,973,000. Verition Fund Management LLC increased its holdings in shares of Sweetgreen by 189.6% in the 3rd quarter. Verition Fund Management LLC now owns 173,501 shares of the company’s stock worth $6,151,000 after purchasing an additional 113,586 shares in the last quarter. Davidson Kempner Capital Management LP increased its holdings in shares of Sweetgreen by 40.1% in the 2nd quarter. Davidson Kempner Capital Management LP now owns 575,000 shares of the company’s stock worth $17,330,000 after purchasing an additional 164,600 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new stake in shares of Sweetgreen in the 3rd quarter worth $3,329,000. Institutional investors own 95.75% of the company’s stock.

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.