For Sweetgreen Inc [SG], Analyst sees a drop to $10. What next?

Sweetgreen Inc [NYSE: SG] surged by $1.57 during the normal trading session on while it closed the day at $21.37. The company report on March 5, 2024 at 9:00 AM that Sweetgreen to Present at Upcoming Investor Conference.

Sweetgreen, Inc. (NYSE: SG), the mission-driven restaurant brand serving healthy food at scale, today announced that the company will present at the following investor conference:.

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Bank of America Consumer & Retail Technology Conference on Tuesday, March 12th, 2024. The fireside chat will be held at the 1 Hotel South Beach in Miami on that day at 2:40pm ET.

Sweetgreen Inc stock has also gained 14.71% of its value over the past 7 days. However, SG stock has inclined by 106.47% in the 3 months of the year. Over the past six months meanwhile, it has gained 60.68% and gained 89.12% year-on date.

The market cap for SG stock reached $2.41 billion, with 99.70 million shares outstanding and 95.93 million shares in the current float. Compared to the average trading volume of 2.07M shares, SG reached a trading volume of 4275880 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 $17.25 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 1.89. 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.

Morgan Stanley have made an estimate for Sweetgreen Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 16, 2024. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $13 to $19. The new note on the price target was released on July 31, 2023, representing the official price target for Sweetgreen Inc stock. Previously, the target price had yet another raise from $9 to $17, while BofA Securities kept a Buy rating on SG stock.

The Average True Range (ATR) for Sweetgreen Inc is set at 1.03, with the Price to Sales ratio for SG stock in the period of the last 12 months amounting to 4.12. The Price to Book ratio for the last quarter was 4.99, with the Price to Cash per share for the same quarter was set at 2.28.

SG stock trade performance evaluation

Sweetgreen Inc [SG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.71. With this latest performance, SG shares gained by 71.10% in over the last four-week period, additionally plugging by 60.68% over the last 6 months – not to mention a rise of 206.60% 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 86.69, with the RSI for the last a single of trading hit 90.59, and the three-weeks RSI is set at 82.98 for Sweetgreen Inc [SG]. The present Moving Average for the last 50 days of trading for this stock 12.49, while it was recorded at 19.48 for the last single week of trading, and 12.11 for the last 200 days.

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

Sweetgreen Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.99 and a Current Ratio set at 3.01.

Earnings per share (EPS) analysis for Sweetgreen Inc [SG] stock

With the latest financial reports released by the company, Sweetgreen Inc posted -0.29/share EPS, while the average EPS was predicted by analysts to be reported at -0.35/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Sweetgreen Inc go to 27.00%.

Sweetgreen Inc [SG]: Institutional Ownership

The top three institutional holders of SG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SG stock with ownership which is approximately 5.8325%.