Sweetgreen (SG) Surges 12.8%: Is This an Indication of Further Gains?

Company Overview - Sweetgreen, Inc. (SG) shares increased by 12.8% to $34.98 in the last trading session, with a notable trading volume and a 33.3% gain over the past four weeks [1][2] - The company is expected to report a quarterly loss of $0.12 per share, reflecting a year-over-year improvement of 40%, with revenues projected at $180.2 million, an 18.1% increase from the previous year [4] Financial Performance - The consensus EPS estimate for Sweetgreen has been revised 4.2% higher in the last 30 days, indicating a positive trend that typically correlates with stock price appreciation [3][4] - The increase in fiscal 2024 outlook, driven by new restaurant openings, favorable menu pricing, and operational excellence, has contributed to bullish investor sentiment [2] Industry Context - Sweetgreen operates within the Zacks Retail - Restaurants industry, which includes other companies like Meritage Hospitality Group Inc. (MHGU), whose stock closed 0.6% lower at $17.40, with a -5.8% return over the past month [5] - Meritage Hospitality Group's EPS estimate remains unchanged at $0.17, representing a year-over-year change of 156.7% [6]