Why Sweetgreen, Inc. (SG) Dipped More Than Broader Market Today

Sweetgreen, Inc. (SG) closed at $14.55 in the latest trading session, marking a -2.22% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.11%. Meanwhile, the Dow gained 0.91%, and the Nasdaq, a tech-heavy index, lost 0.82%.

Shares of the company witnessed a gain of 10.55% over the previous month, beating the performance of the Retail-Wholesale sector with its gain of 2.53%, and the S&P 500's gain of 5.17%.

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The upcoming earnings release of Sweetgreen, Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of -$0.11, marking a 15.38% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $193.6 million, reflecting a 4.85% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.63 per share and revenue of $744.76 million, which would represent changes of +20.25% and +10.04%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Sweetgreen, Inc. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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. Within the past 30 days, our consensus EPS projection has moved 0.96% lower. Sweetgreen, Inc. currently has 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 148, positioning it in the bottom 41% 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.

To follow SG in the coming trading sessions, be sure to utilize Zacks.com.

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

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