Yahoo Finance Sweetgreen, Inc. (SG) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Sweetgreen, Inc. (SG) closed at $23.99, marking a -1.72% move from the previous day. This move lagged the S&P 500's daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 1.09%, and the technology-dominated Nasdaq saw an increase of 1.18%.
The company's stock has dropped by 27.44% in the past month, falling short of the Retail-Wholesale sector's gain of 1.87% and the S&P 500's gain of 4.44%.
Analysts and investors alike will be keeping a close eye on the performance of Sweetgreen, Inc. in its upcoming earnings disclosure. On that day, Sweetgreen, Inc. is projected to report earnings of -$0.12 per share, which would represent year-over-year growth of 40%. In the meantime, our current consensus estimate forecasts the revenue to be $180.2 million, indicating a 18.14% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.73 per share and revenue of $672.14 million. These totals would mark changes of +24.74% and +15.08%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Sweetgreen, Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Sweetgreen, Inc. is currently a Zacks Rank #2 (Buy).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SG in the coming trading sessions, be sure to utilize Zacks.com.
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Sweetgreen, Inc. (SG) : Free Stock Analysis Report
