William Blair analyst Sharon Zackfia has maintained their bullish stance on SG stock, giving a Buy rating on March 13.
Sharon Zackfia’s rating is based on Sweetgreen’s promising growth prospects and strategic initiatives. The company’s successful geographic expansion and the introduction of Infinite Kitchens, which enhance operational efficiency, are key factors in its potential for significant revenue growth. Additionally, Sweetgreen’s efforts to diversify its customer base and increase customer engagement through menu innovation and a new loyalty program are expected to drive sales and profitability.
Furthermore, Zackfia highlights the opportunity for Sweetgreen to expand its unit base significantly, with a potential fivefold increase. The company’s conservative saturation analysis suggests room for growth, especially with the potential of drive-thru locations and licensing opportunities. These factors collectively support the Buy rating, reflecting confidence in Sweetgreen’s ability to achieve substantial financial growth in the coming years.
According to TipRanks, Zackfia is a 5-star analyst with an average return of 13.4% and a 53.08% success rate. Zackfia covers the Consumer Cyclical sector, focusing on stocks such as Sweetgreen, Carnival, and Potbelly.
In another report released on March 13, Bank of America Securities also maintained a Buy rating on the stock with a $36.00 price target.