Wedbush Weighs in on Allbirds, Inc.’s Q2 2022 Earnings (NASDAQ:BIRD)

Allbirds, Inc. (NASDAQ:BIRDGet Rating) – Wedbush dropped their Q2 2022 earnings estimates for Allbirds in a report released on Tuesday, May 10th. Wedbush analyst T. Nikic now anticipates that the company will post earnings per share of ($0.14) for the quarter, down from their prior estimate of ($0.06). Wedbush currently has a “Outperform” rating and a $8.00 price objective on the stock. Wedbush also issued estimates for Allbirds’ Q3 2022 earnings at ($0.12) EPS, Q4 2022 earnings at ($0.02) EPS, FY2022 earnings at ($0.43) EPS and FY2023 earnings at ($0.38) EPS.

Allbirds (NASDAQ:BIRDGet Rating) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $61.97 million. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.25) EPS.

A number of other research firms have also recently issued reports on BIRD. Piper Sandler cut their target price on Allbirds from $26.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, February 24th. Stifel Nicolaus cut their target price on Allbirds from $20.00 to $7.00 in a research note on Wednesday. KeyCorp cut their price objective 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. Cowen cut their price objective on shares of Allbirds from $16.00 to $7.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Allbirds from $17.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $14.33.

BIRD stock opened at $4.18 on Friday. Allbirds has a 1 year low of $3.71 and a 1 year high of $32.44. The company has a fifty day moving average of $5.61.

Institutional investors and hedge funds have recently modified their holdings of the stock. Ritter Daniher Financial Advisory LLC purchased a new position in Allbirds in the 4th quarter worth about $30,000. FourThought Financial LLC purchased a new position in Allbirds during the 1st quarter valued at about $37,000. Koshinski Asset Management Inc. purchased a new position in Allbirds during the 4th quarter valued at about $52,000. Commonwealth Equity Services LLC purchased a new position in Allbirds during the 1st quarter valued at about $67,000. Finally, Game Plan Financial Advisors LLC purchased a new position in Allbirds during the 1st quarter valued at about $72,000. 26.75% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Michael J. Bufano purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The shares were purchased at an average price of $5.17 per share, with a total value of $129,250.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

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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Earnings History and Estimates for Allbirds (NASDAQ:BIRD)

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