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Sweetgreen, Inc. (SG) Ascends While Market Falls: Some Facts to Note
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Sweetgreen, Inc. (SG - Free Report) closed the latest trading day at $24.20, indicating a +1.38% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.71%. On the other hand, the Dow registered a loss of 0.93%, and the technology-centric Nasdaq decreased by 0.81%.
The company's shares have seen a decrease of 18.75% over the last month, not keeping up with the Retail-Wholesale sector's loss of 0.03% and the S&P 500's gain of 1.08%.
Investors will be eagerly watching for the performance of Sweetgreen, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 8, 2024. In that report, analysts expect Sweetgreen, Inc. to post earnings of -$0.11 per share. This would mark year-over-year growth of 45%. At the same time, our most recent consensus estimate is projecting a revenue of $180.03 million, reflecting a 18.03% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.72 per share and revenue of $671.95 million, which would represent changes of +25.77% and +15.05%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Sweetgreen, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.34% rise in the Zacks Consensus EPS estimate. Sweetgreen, Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 42% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Sweetgreen, Inc. (SG) Ascends While Market Falls: Some Facts to Note
Sweetgreen, Inc. (SG - Free Report) closed the latest trading day at $24.20, indicating a +1.38% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.71%. On the other hand, the Dow registered a loss of 0.93%, and the technology-centric Nasdaq decreased by 0.81%.
The company's shares have seen a decrease of 18.75% over the last month, not keeping up with the Retail-Wholesale sector's loss of 0.03% and the S&P 500's gain of 1.08%.
Investors will be eagerly watching for the performance of Sweetgreen, Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 8, 2024. In that report, analysts expect Sweetgreen, Inc. to post earnings of -$0.11 per share. This would mark year-over-year growth of 45%. At the same time, our most recent consensus estimate is projecting a revenue of $180.03 million, reflecting a 18.03% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.72 per share and revenue of $671.95 million, which would represent changes of +25.77% and +15.05%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Sweetgreen, Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.34% rise in the Zacks Consensus EPS estimate. Sweetgreen, Inc. is holding a Zacks Rank of #2 (Buy) right now.
The Retail - Restaurants industry is part of the Retail-Wholesale sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 42% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.