Sweetgreen, Inc. (SG) Registers a Bigger Fall Than the Market: Important Facts to Note

In the latest close session, Sweetgreen, Inc. (SG) was down 5.71% at $4.95. The stock's change was less than the S&P 500's daily loss of 1.74%. On the other hand, the Dow registered a loss of 1.01%, and the technology-centric Nasdaq decreased by 2.38%.

Heading into today, shares of the company had lost 10.41% over the past month, lagging the Retail-Wholesale sector's loss of 3.4% and the S&P 500's loss of 4.99%.

Market participants will be closely following the financial results of Sweetgreen, Inc. in its upcoming release. The company is forecasted to report an EPS of -$0.22, showcasing a 4.76% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $166.71 million, indicating a 0.25% upward movement from the same quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.73 per share and revenue of $709.35 million. These totals would mark changes of +35.96% and +4.4%, respectively, from last year.

It is also important to note the recent changes to analyst estimates for Sweetgreen, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has moved 1.08% higher. At present, Sweetgreen, Inc. boasts a Zacks Rank of #3 (Hold).

The Retail - Restaurants industry is part of the Retail-Wholesale sector. At present, this industry carries a Zacks Industry Rank of 180, placing it within the bottom 27% of over 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.

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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This article originally published on Zacks Investment Research (zacks.com).

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