Allbirds (NASDAQ:BIRD) PT Lowered to $7.00 at Cowen

Allbirds (NASDAQ:BIRD – Get Rating) had its price objective cut by Cowen from $16.00 to $7.00 in a note issued to investors on Wednesday, Stock Target Advisor reports. Cowen’s target price would indicate a potential upside of 65.48% from the company’s current price.

BIRD has been the topic of a number of other reports. Telsey Advisory Group dropped their price objective on shares of Allbirds from $25.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, February 18th. KeyCorp lowered their price target on shares of Allbirds from $28.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday, January 20th. Bank of America lowered their price target on shares of Allbirds from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, February 24th. Stifel Nicolaus lowered their price target on shares of Allbirds from $20.00 to $7.00 in a research note on Wednesday. Finally, Zacks Investment Research lowered shares of Allbirds from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $14.33.

BIRD stock traded down $0.29 during midday trading on Wednesday, reaching $4.23. The company’s stock had a trading volume of 160,571 shares, compared to its average volume of 2,083,092. Allbirds has a 52 week low of $4.42 and a 52 week high of $32.44. The stock’s 50-day moving average price is $5.70.

Allbirds (NASDAQ:BIRD – Get Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The business had revenue of $62.76 million for the quarter, compared to analysts’ expectations of $61.97 million. The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) earnings per share. As a group, analysts forecast that Allbirds will post -0.28 EPS for the current year.

In other news, CFO Michael J. Bufano acquired 25,000 shares of Allbirds stock in a transaction dated Monday, March 14th. The stock was bought at an average price of $5.17 per share, for a total transaction of $129,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several hedge funds have recently modified their holdings of the stock. Ritter Daniher Financial Advisory LLC bought a new stake in shares of Allbirds in the fourth quarter valued at approximately $30,000. Koshinski Asset Management Inc. bought a new stake in shares of Allbirds in the fourth quarter valued at approximately $52,000. FourThought Financial LLC acquired a new position in Allbirds during the first quarter valued at approximately $37,000. Cubist Systematic Strategies LLC acquired a new position in Allbirds during the fourth quarter valued at approximately $98,000. Finally, SG3 Management LLC acquired a new position in Allbirds during the fourth quarter valued at approximately $113,000. Institutional investors and hedge funds own 26.75% of the company’s stock.

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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