Wall Street Analyst Initiated Sweetgreen Inc. [SG]. What else is Wall St. saying

Sweetgreen Inc. [NYSE: SG] gained 6.00% on the last trading session, reaching $9.72 price per share at the time. The company report on January 3, 2023 that sweetgreen Launches ‘Green January’ to Kickstart the New Year.

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New rewards and the Melissa Wood Health Bowl launch January 3.

Today, sweetgreen (NYSE: SG), the mission-driven restaurant brand serving healthy food at scale, announces its latest campaign, Green January, an opportunity for customers to jumpstart a healthy routine in the new year through real, fresh food.

Sweetgreen Inc. represents 110.38 million in outstanding shares, while the company has a total market value of $1.08 billion with the latest information. SG stock price has been found in the range of $9.15 to $9.94.

If compared to the average trading volume of 1.59M shares, SG reached a trading volume of 2585313 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $18.25 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 0.65, with the Price to Sales ratio for SG stock in the period of the last 12 months amounting to 2.41. The Price to Book ratio for the last quarter was 1.84, with the Price to Cash per share for the same quarter was set at 3.44.

Trading performance analysis for SG stock

Sweetgreen Inc. [SG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.35. With this latest performance, SG shares dropped by -10.33% in over the last four-week period, additionally sinking by -32.92% over the last 6 months – not to mention a drop of -64.54% in the past year of trading.

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 47.18, with the RSI for the last a single of trading hit 59.17, and the three-weeks RSI is set at 41.70 for Sweetgreen Inc. [SG]. The present Moving Average for the last 50 days of trading for this stock 11.99, while it was recorded at 8.92 for the last single week of trading, and 17.46 for the last 200 days.

Sweetgreen Inc. [SG]: A deeper dive into fundamental analysis

Sweetgreen Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 8.70 and a Current Ratio set at 8.70.

An analysis of insider ownership at Sweetgreen Inc. [SG]

There are presently around $908 million, or 96.30% of SG stock, in the hands of institutional investors. The top three institutional holders of SG stocks are: FMR LLC with ownership of 14,501,730, which is approximately 1.051% of the company’s market cap and around 8.20% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 13,016,307 shares of the stock with an approximate value of $126.52 million in SG stocks shares; and VANGUARD GROUP INC, currently with $67.69 million in SG stock with ownership of nearly 9.151% of the company’s market capitalization.

Positions in Sweetgreen Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 74 institutional holders increased their position in Sweetgreen Inc. [NYSE:SG] by around 22,641,304 shares. Additionally, 62 investors decreased positions by around 5,998,992 shares, while 26 investors held positions by with 64,769,407 shares. The mentioned changes placed institutional holdings at 93,409,703 shares, according to the latest SEC report filing. SG stock had 32 new institutional investments in for a total of 8,925,278 shares, while 36 institutional investors sold positions of 2,717,761 shares during the same period.

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