Fintel reports that on July 31, 2023, Piper Sandler upgraded their outlook for Sweetgreen Inc – (NYSE:SG) from Neutral to Overweight.

Analyst Price Forecast Suggests 22.49% Downside

As of July 6, 2023, the average one-year price target for Sweetgreen Inc – is 10.93. The forecasts range from a low of 9.09 to a high of $15.75. The average price target represents a decrease of 22.49% from its latest reported closing price of 14.10.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Sweetgreen Inc – is 654MM, an increase of 25.68%. The projected annual non-GAAP EPS is -1.17.

What is the Fund Sentiment?

There are 304 funds or institutions reporting positions in Sweetgreen Inc -. This is a decrease of 17 owner(s) or 5.30% in the last quarter. Average portfolio weight of all funds dedicated to SG is 0.22%, a decrease of 11.01%. Total shares owned by institutions decreased in the last three months by 2.72% to 90,716K shares. The put/call ratio of SG is 1.10, indicating a bearish outlook.

What are Other Shareholders Doing?

Baillie Gifford holds 9,102K shares representing 8.17% ownership of the company. In it’s prior filing, the firm reported owning 5,245K shares, representing an increase of 42.38%. The firm increased its portfolio allocation in SG by 1.13% over the last quarter.

FBGRX – Fidelity Blue Chip Growth Fund holds 6,984K shares representing 6.27% ownership of the company. In it’s prior filing, the firm reported owning 7,086K shares, representing a decrease of 1.45%. The firm decreased its portfolio allocation in SG by 27.54% over the last quarter.

PRNHX – T. Rowe Price New Horizons Fund holds 6,018K shares representing 5.40% ownership of the company. In it’s prior filing, the firm reported owning 10,563K shares, representing a decrease of 75.54%. The firm decreased its portfolio allocation in SG by 72.97% over the last quarter.

Anchorage Capital Group, L.L.C. holds 4,795K shares representing 4.30% ownership of the company. No change in the last quarter.

Revolution Growth Management holds 4,681K shares representing 4.20% ownership of the company. No change in 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.

This article originally appeared on Fintel

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