Fintel reports that on July 17, 2024, UBS initiated coverage of Sweetgreen (NYSE:SG) with a Buy recommendation.
Analyst Price Forecast Suggests 32.85% Upside
As of July 4, 2024, the average one-year price target for Sweetgreen is $33.53/share. The forecasts range from a low of $17.17 to a high of $47.25. The average price target represents an increase of 32.85% from its latest reported closing price of $25.24 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Sweetgreen is 836MM, an increase of 35.50%. The projected annual non-GAAP EPS is -0.96.
What is the Fund Sentiment?
There are 429 funds or institutions reporting positions in Sweetgreen. This is an increase of 64 owner(s) or 17.53% in the last quarter. Average portfolio weight of all funds dedicated to SG is 0.25%, an increase of 88.09%. Total shares owned by institutions increased in the last three months by 2.03% to 98,308K shares. 
The put/call ratio of SG is 0.79, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 11,605K shares representing 10.24% ownership of the company. In its prior filing, the firm reported owning 11,593K shares , representing an increase of 0.10%. The firm increased its portfolio allocation in SG by 119.65% over the last quarter.
FBGRX - Fidelity Blue Chip Growth Fund holds 6,674K shares representing 5.89% ownership of the company. In its prior filing, the firm reported owning 7,119K shares , representing a decrease of 6.66%. The firm increased its portfolio allocation in SG by 81.17% over the last quarter.
VWUSX - Vanguard U.S. Growth Fund Investor Shares holds 5,896K shares representing 5.20% ownership of the company. No change in the last quarter.
Invesco holds 2,694K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 2,044K shares , representing an increase of 24.13%. The firm decreased its portfolio allocation in SG by 75.65% over the last quarter.
Neuberger Berman Group holds 2,673K shares representing 2.36% ownership of the company. In its prior filing, the firm reported owning 3,267K shares , representing a decrease of 22.21%. The firm decreased its portfolio allocation in SG by 12.00% over the last quarter.
Sweetgreen Background Information
(This description is provided by the company.)
Sweetgreen is an American fast casual restaurant chain that serves salads. It was founded in August 2007 by Nicolas Jammet, Nathaniel Ru, and Jonathan Neman, three months after they graduated from the McDonough School of Business at Georgetown University.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
