In Friday’s Wall Street session, Sweetgreen Inc (NYSE:SG) shares traded at $31.56, up 33.96% from the previous session.
SG stock price is now 42.87% away from the 50-day moving average and 121.77% away from the 200-day moving average. The market capitalization of the company currently stands at $3.57B.
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With the price target enhanced from $17 to $34, Oppenheimer maintained Outperform rating for Sweetgreen Inc (NYSE: SG). On January 16, 2024, Morgan Stanley Downgraded its previous ‘Equal-Weight’ rating to ‘Underweight’ on the stock reducing its target price from $14 to quote $10, while ‘Piper Sandler’ rates the stock as ‘Overweight’
In other news, Reback Mitch, CHIEF FINANCIAL OFFICER sold 29,475 shares of the company’s stock on Mar 12 ’24. The stock was sold for $619,270 at an average price of $21.01. Upon completion of the transaction, the CHIEF FINANCIAL OFFICER now directly owns 405,584 shares in the company, valued at $12.8 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 01 ’24, CHIEF EXECUTIVE OFFICER Neman Jonathan sold 58,067 shares of the business’s stock. A total of $950,120 was realized by selling the stock at an average price of $16.36. A total of 14.66% of the company’s stock is owned by insiders.
During the past 12 months, Sweetgreen Inc has had a low of $8.64 and a high of $26.45. As of last week, the company has a debt-to-equity ratio of 0.65, a current ratio of 3.02, and a quick ratio of 3.00.
According to the Restaurants Company, earnings per share came in at -0.19, missing analysts’ expectations of -0.16 by -0.03. This compares to -$0.44 EPS in the same period last year. The net profit margin was -17.15% and return on equity was -21.31% for SG. The company reported revenue of $153.03 million for the quarter, compared to $118.57 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 29.06 percent. For the current quarter, analysts expect SG to generate $179.2M in revenue.
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