The Ozempic Effect Gives Sweetgreen a Boost, Survey Finds [BNN Bloomberg (Canada)]
Sweetgreen, Inc. (SG)
Company Research
Source: BNN Bloomberg
reported going to Sweetgreen Inc. more frequently after starting GLP-1 medications, according to a 300-person survey conducted by William Blair. It was the only restaurant in the survey that saw a net increase in frequency of visits from those taking the shots. Weight-loss shots have been a boon for drugmakers Eli Lilly & Co. and Novo Nordisk A/S, but food brands are fretting about the prospect of a less hungry customer base. Some food CEOs have gone so far as to call Ozempic-maker Novo Nordisk for answers. “They are scared about it,” Novo Chief Executive Officer Lars Fruergaard Jorgensen told Bloomberg recently. Read more: Ozempic Means Foodmakers Will Have to Get Healthier Veggie-forward brands, like Sweetgreen and Cava Group Inc., are in a better position to withstand any potential impact, according to the William Blair survey. Studies have shown that people are more likely to crave fruits and vegetables over junk food when taking the drugs. Fast-food chains, like Shake Sha
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SG
News
- Sweetgreen, Inc. (NYSE: SG) had its price target raised by analysts at Citigroup Inc. from $16.00 to $25.00. They now have a "neutral" rating on the stock.MarketBeat
- Sweetgreen, Inc. (NYSE: SG) had its price target raised by analysts at Morgan Stanley from $11.00 to $16.00. They now have an "underweight" rating on the stock.MarketBeat
- Sweetgreen to Announce First Quarter 2024 Results on May 9, 2024Business Wire
- Sweetgreen, Inc. (NYSE: SG) had its "hold" rating re-affirmed by analysts at TD Cowen. They now have a $17.00 price target on the stock.MarketBeat
- Sweetgreen, Inc. (NYSE: SG) had its price target raised by analysts at Oppenheimer Holdings Inc. from $17.00 to $34.00. They now have an "outperform" rating on the stock.MarketBeat
SG
Earnings
- 2/29/24 - Miss
SG
Sec Filings
- 4/22/24 - Form DEFR14A
- 4/19/24 - Form ARS
- 4/19/24 - Form DEFA14A
- SG's page on the SEC website