In the latest trading session, Sweetgreen, Inc. (SG) closed at $6.66, marking a -6.98% move from the previous day. This change lagged the S&P 500's 0.5% gain on the day. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 0.43%.
The company's stock has climbed by 2.73% in the past month, falling short of the Retail-Wholesale sector's gain of 5.24% and outpacing the S&P 500's gain of 0.18%.
The investment community will be closely monitoring the performance of Sweetgreen, Inc. in its forthcoming earnings report. In that report, analysts expect Sweetgreen, Inc. to post earnings of -$0.32 per share. This would mark a year-over-year decline of 28%. Alongside, our most recent consensus estimate is anticipating revenue of $159.29 million, indicating a 1% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of -$0.87 per share and a revenue of $683.56 million, signifying shifts of -10.13% and 0%, respectively, from the 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 business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.6% lower. Sweetgreen, Inc. presently features a Zacks Rank of #3 (Hold).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 202, positioning it in the bottom 18% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sweetgreen, Inc. (SG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
