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SG · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Sweetgreen, Inc. (SG) stock moving?
Sweetgreen reported Q3 2026 results on November 5 with sales of $176.0M against a $169.4M estimate (about 3.9% above consensus) and a loss per share of $(0.26) against a $(0.27) estimate. In the following session, seven brokers raised their price targets: Citigroup to $15 (Buy), Oppenheimer to $14 (Outperform), Wells Fargo to $14 (Overweight), KeyBanc to $13 (Overweight), DA Davidson to $12 (Neutral), TD Cowen to $11 (Hold) and UBS to $11 (Neutral, raised from $6.50 on October 28). The stock has responded: it rose from $10.22 on October 22 to $13.24 on November 10, roughly 30%. November 6 traded about 12.9M shares, roughly two to three times the volume of the prior sessions, and November 9 added 11% to $13.36 on 7.8M shares. The November 10 session ranged from $13.15 to $13.89 and closed at $13.24, below the intraday high. The price now sits above the Neutral and Hold targets ($11 to $12) and close to the Overweight and Buy targets ($13 to $15), so much of the revision appears priced in. The news data does not include the full press release, guidance, or the 10-Q filed November 6, and the company remains loss-making per share, so the case rests on a single quarter of top-line and EPS beats.
News behind the analysis
- Citigroup Maintains Buy on Sweetgreen, Raises Price Target to $15Citigroup kept its Buy rating and raised its price target to $15 after the Q3 2026 report. It is the highest target among the brokers that updated their views.
- Oppenheimer Maintains Outperform on Sweetgreen, Raises Price Target to $14Oppenheimer kept its Outperform rating and raised its price target to $14, up from $8.50, after the Q3 results.
- Wells Fargo Maintains Overweight on Sweetgreen, Raises Price Target to $14Wells Fargo kept its Overweight rating and raised its price target to $14 following the quarterly report.
- Keybanc Maintains Overweight on Sweetgreen, Raises Price Target to $13KeyBanc kept its Overweight rating and raised its price target to $13 after the Q3 results.
- DA Davidson Maintains Neutral on Sweetgreen, Raises Price Target to $12DA Davidson kept a Neutral rating and raised its price target to $12 after the quarterly report.
- TD Cowen Maintains Hold on Sweetgreen, Raises Price Target to $11TD Cowen kept a Hold rating and raised its price target to $11 from $9 after the Q3 results.
- Sweetgreen, Inc. Announces Third Quarter 2026 Financial ResultsSweetgreen released its Q3 2026 financial results on November 5, 2026, with the press release furnished to the SEC in an 8-K filing. The full text of the results was not included in the available data.
- Sweetgreen Q3 2026 Earnings Call TranscriptManagement discussed the third-quarter 2026 results on the earnings call held November 5, 2026. The transcript was published by Benzinga.
- Sweetgreen Q3 EPS $(0.26) Beats $(0.27) Estimate, Sales $176.018M Beat $169.417M EstimateSweetgreen reported Q3 adjusted loss per share of $(0.26) versus a $(0.27) estimate and sales of $176.018M versus a $169.417M estimate. Both figures beat consensus.
- UBS Maintains Neutral on Sweetgreen, Raises Price Target to $11UBS kept a Neutral rating and raised its price target to $11 from $6.50 on October 28, ahead of the Q3 report.
About Sweetgreen, Inc.
Sweetgreen is a US fast-casual restaurant chain, founded in 2006, that sells salads and warm grain bowls made from seasonal, locally sourced ingredients. Its brand focuses on healthy eating and it puts heavy weight on digital ordering through its app and loyalty program. It recently sold its Spyce robotics unit (Infinite Kitchen) to Wonder Group, a deal completed in January 2026.
How it makes money
Nearly all of its revenue comes from food and drinks sold at the restaurants it owns and runs itself. It doesn't franchise. Customers order in the store, for pickup or for delivery, and a large share of orders come through its app and third-party delivery platforms. Revenue runs at roughly $700 million a year, and the company is still reporting net losses.
What usually moves SG
- Same-store sales and customer traffic trends
- Pace of new restaurant openings
- Consumer spending on dining out
- Restaurant-level margins, food and labor costs
- Food-safety incidents, such as the 2026 Cyclospora lettuce outbreak