Sweetgreen, Inc. (SG) closed at $6.93 in the latest trading session, marking a +2.51% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.19%. On the other hand, the Dow registered a gain of 0.66%, and the technology-centric Nasdaq decreased by 0.03%.
Heading into today, shares of the company had lost 2.03% over the past month, lagging the Retail-Wholesale sector's loss of 1.45% and the S&P 500's gain of 0.54%.
Investors will be eagerly watching for the performance of Sweetgreen, Inc. in its upcoming earnings disclosure. On that day, Sweetgreen, Inc. is projected to report earnings of -$0.31 per share, which would represent a year-over-year decline of 24%. Simultaneously, our latest consensus estimate expects the revenue to be $159.89 million, showing a 0.63% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.86 per share and revenue of $684.16 million, which would represent changes of -8.86% and 0%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Sweetgreen, Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. currently has 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 205, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Sweetgreen, Inc. (SG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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