Stock Groups

Sweetgreen Gains Following Goldman Sachs Upgrade -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — The shares of Sweetgreen Inc (NYSE:) rose 10% after positive comments on the company from Goldman Sachs analyst Jared Garber.

Jonathan Neman, CEO and co-founder of the company and Rebecca Nounou (investor relations head), hosted a meeting for analysts. 

Sweetgreen reported its fourth quarter earnings recently, with an impressive sales increase and positive outlook.

Garber informed investors that Garber was “broadly constructive” at the meeting and that Sweetgreen “continues to execute its top unit growth.”

According to the analyst, “Top-line Trends broadly recovered from Dec/Jan challenges from Omicron wave. Management was positive about the pace and direction of urban recovery (especially NYC) as markets reopen. Return-to-work trends also accelerate.”

He concluded that Goldman’s was “incrementally positive about SG’s strategy for growth and vision to create a top restaurant-lifestyle brand”

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