Sweetgreen Surpasses Analyst Target: What’s Next for Investors?
In recent trading, Sweetgreen Inc (Symbol: SG) shares climbed above the average analyst 12-month target price of $38.30, currently selling for $39.30 per share. When a stock meets an analyst’s target, they have two options: either downgrade their valuation or raise their target price. Their choice may depend on recent positive developments within the company, indicating a possible price increase.
Analysts Weigh In: A Range of Targets for Sweetgreen
A total of 10 analysts within the Zacks coverage universe provided input for the average target price for Sweetgreen Inc. While their average price is $38.30, some analysts have set lower targets—like one who predicts a price of $27.00. Meanwhile, another analyst is considerably more optimistic, projecting a target as high as $45.00. The standard deviation for these estimates stands at $5.396.
Investor Insight: Time to Reassess Sweetgreen?
The significance of examining the average price target stems from the collective judgment of multiple analysts, reflecting a “wisdom of crowds” approach. With SG now trading above this target price of $38.30, investors must evaluate whether this point is a temporary stop before reaching higher targets, or if valuations have stretched too far, prompting a reassessment of their holdings.
| Recent SG Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 7 | 7 | 7 | 6 |
| Buy ratings: | 1 | 1 | 1 | 1 |
| Hold ratings: | 3 | 3 | 3 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 1 |
| Average rating: | 1.64 | 1.64 | 1.64 | 1.83 |
The average rating shown above ranges from 1 to 5, where 1 is a Strong Buy and 5 is a Strong Sell. This article utilized data from Zacks Investment Research through Quandl.com. Read the latest Zacks research report on SG—FREE.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
