Sweetgreen, Inc. (SG) closed at $5.82 in the latest trading session, marking a +2.28% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 2.51%. At the same time, the Dow added 2.85%, and the tech-heavy Nasdaq gained 2.8%.
The company's stock has dropped by 0.18% in the past month, exceeding the Retail-Wholesale sector's loss of 4.13% and the S&P 500's loss of 1.66%.
Market participants will be closely following the financial results of Sweetgreen, Inc. in its upcoming release. In that report, analysts expect Sweetgreen, Inc. to post earnings of -$0.22 per share. This would mark a year-over-year decline of 4.76%. In the meantime, our current consensus estimate forecasts the revenue to be $166.01 million, indicating a 0.18% decline compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.74 per share and a revenue of $708.64 million, indicating changes of +35.09% and +4.29%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Sweetgreen, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.22% higher. As of now, Sweetgreen, Inc. holds a Zacks Rank of #3 (Hold).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 192, which puts it in the bottom 22% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Report
This article originally published on Zacks Investment Research (zacks.com).