Jim Cramer’s Latest Lightning Round: 12 Stocks to Watch

10. Sweetgreen, Inc. (NYSE:SG)

Number of Hedge Fund Holders: 27

Talking about Sweetgreen, Inc. (NYSE:SG), Cramer said, “Sweetgreen is terrific, I really like it.” The company is making significant strides in the fast-casual dining sector with its focus on healthy foods. Since launching in 2007, it has expanded to over 225 locations across the U.S.

In the second quarter, the company reported a 21% increase in total revenue, reaching $184.6 million compared to $152.5 million the previous year. It opened 4 new restaurants during this quarter and is targeting 24-26 net new openings for the fiscal year 2024. For the full year, the company projects revenue between $670 million and $680 million, with a restaurant-level profit margin of 19%-20% and adjusted EBITDA between $16 million and $19 million.

Jonathan Neman, Co-Founder and CEO of Sweetgreen (NYSE:SG), stated that the company is successfully opening new restaurants nationwide, and the new Caramelized Garlic Steak has quickly gained popularity among customers. Neman emphasized that the company’s expanding menu resonates well with customers by offering crave-worthy dishes that prioritize quality and value.

During the Goldman Sachs 31st Annual Global Retailing Conference on September 5, Sweetgreen (NYSE:SG) expressed strong confidence in the aspects it can manage, such as its menu, marketing strategies, improvements in throughput, and the performance of new locations. However, the company also acknowledged the fluctuations present in the external environment.