Is Sweetgreen Stock a Buy After Earnings? 3 Analysts Weigh In on SG.

Sweetgreen (NYSE:SG) stock is rising higher after releasing its earnings report for the fourth quarter of 2021 and we’re seeing what analysts have to say about the fast-casual restaurant company.

The front of a Sweetgreen (SG Stock) store in Arlington, Virginia.

Source: melissamn / Shutterstock.com

The most recent Sweetgreen earnings report includes revenue of $96.43 million. For comparison, Wall Street was expecting revenue of $84.68 million during the period.

That strong revenue beat is boosting investor confidence in the company’s stock. Now let’s see if analysts are feeling the same with a quick look at the most recent ratings for SG stock.

Is Sweetgreen Stock a Buy After Earnings?

  • Oppenheimer starts us off as the firm maintains its “outperform” rating for the shares but lowers its price target to $37 per share. Even so, that still has it expecting a 73.3% upside from the stock’s closing price on Thursday.
  • William Blair is next with the firm initiating coverage of SG stock with an “outperform” rating but no price target for investors to take guidance from.
  • Morgan Stanley closes out our list with the firm initiating coverage of the shares with an “overweight” rating and $39 price target. That represents a potential 82.7% increase for the stock compared to its previous closing price.

The Sweetgreen earnings report also brings heavy trading to SG stock today. As of this writing, more than 2 million shares of the stock have changed hands. That’s a jump from the about 950,000 shares that trade on average every day.

SG stock is up 20.4% as of Friday afternoon but is still down 18.5% since the start of the year.

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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/03/is-sweetgreen-stock-a-buy-after-earnings-3-analysts-weigh-in-on-sg/.

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