Sweetgreen, Inc. (SG) Stock Sinks As Market Gains: What You Should Know
In the latest market close, Sweetgreen, Inc. (SG) reached $35.45, with a -1.39% movement compared to the previous day. The stock's performance was behind the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.38%.
Shares of the company have appreciated by 13.73% over the course of the past month, outperforming the Retail-Wholesale sector's gain of 6.34% and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of Sweetgreen, Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of -$0.16, showcasing a 27.27% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $174.92 million, reflecting a 14.01% rise from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.75 per share and revenue of $678.12 million, indicating changes of +22.68% and +16.11%, respectively, compared to the previous year.
Any recent changes to analyst estimates for Sweetgreen, Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Sweetgreen, Inc. is currently sporting a Zacks Rank of #3 (Hold).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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