Allbirds (NASDAQ:BIRD) Price Target Cut to $7.00

Allbirds (NASDAQ:BIRDGet Rating) had its target price decreased by Telsey Advisory Group from $9.00 to $7.00 in a report released on Tuesday, MarketBeat reports. Telsey Advisory Group currently has an outperform rating on the stock. Telsey Advisory Group also issued estimates for Allbirds’ Q3 2022 earnings at ($0.10) EPS, Q4 2022 earnings at ($0.07) EPS, FY2022 earnings at ($0.48) EPS and FY2023 earnings at ($0.34) EPS.

BIRD has been the topic of several other reports. KeyCorp assumed coverage on Allbirds in a research report on Wednesday, July 20th. They issued a sector weight rating on the stock. Cowen decreased their price objective on Allbirds from $16.00 to $7.00 in a report on Wednesday, May 11th. Robert W. Baird reissued an outperform rating and issued a $10.00 price objective on shares of Allbirds in a report on Wednesday, June 1st. Piper Sandler began coverage on Allbirds in a research report on Friday, July 22nd. They issued an overweight rating and a $10.00 target price for the company. Finally, Wedbush began coverage on Allbirds in a research note on Thursday, April 28th. They set an outperform rating and a $8.00 target price for the company. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $11.86.

Allbirds Stock Performance

Shares of NASDAQ BIRD opened at $5.27 on Tuesday. Allbirds has a fifty-two week low of $3.64 and a fifty-two week high of $32.44. The business has a 50 day moving average price of $4.87 and a two-hundred day moving average price of $6.41.

Allbirds (NASDAQ:BIRDGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The firm had revenue of $62.76 million during the quarter, compared to the consensus estimate of $61.97 million. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the firm posted ($0.25) EPS. As a group, sell-side analysts expect that Allbirds will post -0.47 EPS for the current fiscal year.

Insider Activity at Allbirds

In related news, CEO Timothy O. Brown acquired 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The shares were acquired at an average cost of $4.86 per share, with a total value of $243,000.00. Following the purchase, the chief executive officer now owns 50,000 shares of the company’s stock, valued at $243,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 31.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Ritter Daniher Financial Advisory LLC bought a new position in Allbirds in the 4th quarter worth approximately $30,000. FourThought Financial LLC bought a new position in Allbirds in the 1st quarter worth approximately $37,000. Captrust Financial Advisors increased its position in Allbirds by 90.8% in the 1st quarter. Captrust Financial Advisors now owns 6,514 shares of the company’s stock worth $39,000 after buying an additional 3,100 shares during the period. ProShare Advisors LLC acquired a new stake in shares of Allbirds during the 2nd quarter worth approximately $41,000. Finally, Stephens Inc. AR acquired a new stake in shares of Allbirds during the 2nd quarter worth approximately $45,000. 26.75% of the stock is owned by institutional investors.

Allbirds Company Profile

(Get Rating)

Allbirds, Inc manufactures and sells footwear and apparel products for men and women. It offers shoes, such as running shoes, everyday sneakers, high-tops, slip-ons, boat shoes, flats, weather repellent shoes, and sandals. The company's apparel products include activewear, tops, bottoms, dresses, sweaters, underwear, and socks.

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Analyst Recommendations for Allbirds (NASDAQ:BIRD)

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