Sweetgreen Inc. [SG] Stock trading around $18.20 per share: What’s Next?

Sweetgreen Inc. [NYSE: SG] surged by $1.35 during the normal trading session on Wednesday and reaching a high of $18.46 during the day while it closed the day at $18.20. The company report on August 9, 2022 that Sweetgreen, Inc. Announces Second Quarter 2022 Financial Results.

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Sweetgreen, Inc. (NYSE: SG) (the “Company”), the mission-driven, next generation restaurant and lifestyle brand that serves healthy food at scale, today announced financial results for its second fiscal quarter ended June 26, 2022.

“Thanks to our team’s execution, second quarter revenue grew 45% year over year and restaurant level margins increased to 18.5%,” said Co-Founder and CEO Jonathan Neman. “The team remains laser focused on operational discipline and our path to profitability. We will continue to invest in our key strategic initiatives to drive long term growth and are committed to being a positive force on the food system, while creating a sustainable and durable brand and business loved by customers.”.

Sweetgreen Inc. stock has also loss -6.81% of its value over the past 7 days. However, SG stock has declined by -11.31% in the 3 months of the year. Over the past six months meanwhile, it has lost -36.81% and lost -43.12% year-on date.

The market cap for SG stock reached $2.02 billion, with 109.47 million shares outstanding and 93.28 million shares in the current float. Compared to the average trading volume of 1.50M shares, SG reached a trading volume of 5878889 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Sweetgreen Inc. [SG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SG shares is $25.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Sweetgreen Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 27, 2022. While these analysts kept the previous recommendation, Cowen dropped their target price from $28 to $22. The new note on the price target was released on June 15, 2022, representing the official price target for Sweetgreen Inc. stock. Previously, the target price had yet another raise to $32, while Citigroup analysts kept a Neutral rating on SG stock. On March 04, 2022, analysts decreased their price target for SG shares from 41 to 37.

The Average True Range (ATR) for Sweetgreen Inc. is set at 1.31, with the Price to Sales ratio for SG stock in the period of the last 12 months amounting to 5.29. The Price to Book ratio for the last quarter was 3.18, with the Price to Cash per share for the same quarter was set at 3.94.

SG stock trade performance evaluation

Sweetgreen Inc. [SG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.81. With this latest performance, SG shares gained by 27.09% in over the last four-week period, additionally sinking by -36.81% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SG stock in for the last two-week period is set at 60.77, with the RSI for the last a single of trading hit 62.48, and the three-weeks RSI is set at 57.23 for Sweetgreen Inc. [SG]. The present Moving Average for the last 50 days of trading for this stock 14.93, while it was recorded at 17.87 for the last single week of trading.

Sweetgreen Inc. [SG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Sweetgreen Inc. [SG] shares currently have an operating margin of -35.36 and a Gross Margin at +1.43. Sweetgreen Inc.’s Net Margin is presently recorded at -45.07.

Return on Equity for this stock declined to -35.98, with Return on Assets sitting at -28.60.

Sweetgreen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.40 and a Current Ratio set at 9.50.

Sweetgreen Inc. [SG]: Insider Ownership positions

There are presently around $1,246 million, or 71.60% of SG stock, in the hands of institutional investors. The top three institutional holders of SG stocks are: FMR LLC with ownership of 13,951,581, which is approximately 9.824% of the company’s market cap and around 3.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 13,543,968 shares of the stock with an approximate value of $246.5 million in SG stocks shares; and REVOLUTION GROWTH MANAGEMENT COMPANY, INC., currently with $113.6 million in SG stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Sweetgreen Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 90 institutional holders increased their position in Sweetgreen Inc. [NYSE:SG] by around 9,043,029 shares. Additionally, 54 investors decreased positions by around 5,595,893 shares, while 18 investors held positions by with 53,840,134 shares. The mentioned changes placed institutional holdings at 68,479,056 shares, according to the latest SEC report filing. SG stock had 56 new institutional investments in for a total of 2,022,997 shares, while 32 institutional investors sold positions of 2,017,997 shares during the same period.


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