Sweetgreen Inc. (NYSE:SG) does about 1.64M shares in volume on a normal day but saw 1598003 shares change hands in Friday trading. The company now has a market cap of 1.05B USD. Its current market price is $9.22, marking a decrease of -2.54% compared to the previous close of $9.46. The 52 week high reached by this stock is $40.10 whilst the lowest price level in 52 weeks is $7.81. The script in recent trading has seen the stock touch a high of $9.68 and a low of $9.22.
Sweetgreen Inc. (SG) has a 20-day trading average at $8.98 and the current price is -77.01% off the 52-week high compared with 18.05% distance from its 52-week low. The 50-day simple moving average of the closing price is $11.19 and its 200-day simple moving average is $16.85. If we look at the stock’s price movements over the week, volatility stands at 6.20%, which decreases to 6.10% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 41.35 to suggest the stock is neutral.
9 analysts observing the Sweetgreen Inc. (SG) stock have set the 12-month price targets for the company’s shares at between $11.00 and $21.00. The consensus objective for the share price is $16.86, suggesting that the stock has a potential upside of 45.31% over the period. The median price target is 48.78% away from the current levels at $18.00.
FactSet Research has provided data showing that 9 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 6 analysts have rated it as a buy and 3 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on January 17, 2023 when Morgan Stanley downgraded the stock to “Equal-Weight” and issued a price target of between $21 and $11. Cowen reiterated its price target at $28-$22.
The current price level is 2.56%, -18.73%, and -45.69% away from its SMA20, SMA50, and SMA200 respectively, with the SG price moving above the 50-day SMA on January 20. Sweetgreen Inc. (SG) stock is down -5.14% over the week and -3.05% over the past month. Its price is 7.58% year-to-date and -63.13% over the past year.
The company’s next earnings report is expected on 05/04/2023, with forecasts estimating quarterly EPS at -$0.36 and -$1.54 for whole year. SG’s earnings per share are forecast to grow by 72.10% this year and 28.60% over next year. Expected sales for next quarter are $132.58 million, which analysts say will come at $489.29 million for the current fiscal year and next year at $667.55 million. In addition, estimates put the company’s current quarterly revenue at an average of $129.44 million.
Its 12-month price target is $18.00. To reach the target analysts have set, the stock logically needs to grow 45.31 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $11.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $21.00.
Outstanding shares total 110.38M with insiders holding 2.86% of the shares and institutional holders owning 80.93% of the company’s common stock. The company has a return on investment of -20.60% and return on equity of -32.80%. Price to book ratio is 1.74 and price to sales ratio is 2.34.
According to a U.S. Securities and Exchange Commission filing, Fidelity Blue Chip Growth Fund has added its position in Sweetgreen Inc. (SG) to 7,085,594 shares, mirroring a recent increase by 3.55%. Fidelity Blue Chip Growth Fund added 0.24 million shares of Sweetgreen Inc. common stock bringing its total worth to about $60.72 million at the end of recent close, SEC documents show. Fidelity Blue Chip Growth Fund isn’t the only investment manager who changed stakes and is followed by T Rowe Price New Horizons Fund, which sold off -4.95 million shares to end up with 6,017,593 shares worth $51.57 million.