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In the latest market close, Sweetgreen, Inc. (SG) reached $25.02, with a -2% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.55% for the day. At the same time, the Dow added 1.01%, and the tech-heavy Nasdaq lost 0.14%.
Coming into today, shares of the company had gained 12.17% in the past month. In that same time, the Retail-Wholesale sector lost 8.04%, while the S&P 500 lost 6.22%.
The investment community will be paying close attention to the earnings performance of Sweetgreen, Inc. in its upcoming release. The company's upcoming EPS is projected at -$0.22, signifying a 4.35% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $164.57 million, up 4.26% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of -$0.59 per share and a revenue of $764.46 million, demonstrating changes of +25.32% and +12.95%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Sweetgreen, Inc. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 14.73% lower. At present, Sweetgreen, Inc. boasts a Zacks Rank of #4 (Sell).
The Retail - Restaurants industry is part of the Retail-Wholesale sector. Currently, this industry holds a Zacks Industry Rank of 184, positioning it in the bottom 27% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.