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Sweetgreen, Inc. (SG) Soars 7.9%: Is Further Upside Left in the Stock?
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Sweetgreen, Inc. (SG - Free Report) shares rallied 7.9% in the last trading session to close at $21.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 67.8% gain over the past four weeks.
Sweetgreen’s rally is buoyed by optimism regarding the company’s strength in menu innovation, supply chain advancements and cutting-edge technology integration. Also, emphasis on strategic initiatives aimed at increasing traffic to drive positive same-store sales growth bode well. The strategy encompasses accelerating culinary innovation, refining the rewards program, optimizing throughput, ensuring excellent restaurant operations and increasing advertising expenditure.
This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of +27.6%. Revenues are expected to be $150.93 million, up 20.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sweetgreen, Inc., the consensus EPS estimate for the quarter has been revised 13% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SG going forward to see if this recent jump can turn into more strength down the road.
Sweetgreen, Inc. belongs to the Zacks Retail - Restaurants industry. Another stock from the same industry, Yum Brands (YUM - Free Report) , closed the last trading session 1.7% lower at $138.36. Over the past month, YUM has returned 7.3%.
For Yum, the consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $1.22. This represents a change of +15.1% from what the company reported a year ago. Yum currently has a Zacks Rank of #3 (Hold).
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Sweetgreen, Inc. (SG) Soars 7.9%: Is Further Upside Left in the Stock?
Sweetgreen, Inc. (SG - Free Report) shares rallied 7.9% in the last trading session to close at $21.37. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 67.8% gain over the past four weeks.
Sweetgreen’s rally is buoyed by optimism regarding the company’s strength in menu innovation, supply chain advancements and cutting-edge technology integration. Also, emphasis on strategic initiatives aimed at increasing traffic to drive positive same-store sales growth bode well. The strategy encompasses accelerating culinary innovation, refining the rewards program, optimizing throughput, ensuring excellent restaurant operations and increasing advertising expenditure.
This company is expected to post quarterly loss of $0.21 per share in its upcoming report, which represents a year-over-year change of +27.6%. Revenues are expected to be $150.93 million, up 20.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Sweetgreen, Inc., the consensus EPS estimate for the quarter has been revised 13% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Sweetgreen, Inc. belongs to the Zacks Retail - Restaurants industry. Another stock from the same industry, Yum Brands (YUM - Free Report) , closed the last trading session 1.7% lower at $138.36. Over the past month, YUM has returned 7.3%.
For Yum, the consensus EPS estimate for the upcoming report has changed -0.2% over the past month to $1.22. This represents a change of +15.1% from what the company reported a year ago. Yum currently has a Zacks Rank of #3 (Hold).