$77.58 Million in Sales Expected for Allbirds, Inc. (NASDAQ:BIRD) This Quarter

Equities research analysts expect Allbirds, Inc. (NASDAQ:BIRDGet Rating) to report sales of $77.58 million for the current quarter, Zacks reports. Seven analysts have made estimates for Allbirds’ earnings, with estimates ranging from $77.00 million to $78.80 million. The firm is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Allbirds will report full year sales of $340.31 million for the current fiscal year, with estimates ranging from $337.80 million to $344.40 million. For the next financial year, analysts expect that the business will report sales of $436.82 million, with estimates ranging from $421.03 million to $451.10 million. Zacks’ sales averages are an average based on a survey of research analysts that follow Allbirds.

Allbirds (NASDAQ:BIRDGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.25) earnings per share.

A number of equities research analysts have recently weighed in on BIRD shares. Cowen cut their price target on Allbirds from $16.00 to $7.00 in a report on Wednesday. Wedbush began coverage on Allbirds in a report on Thursday, April 28th. They set an “outperform” rating and a $8.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Allbirds from $17.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, February 24th. Cowen dropped their target price on Allbirds from $16.00 to $7.00 in a report on Wednesday. Finally, Stifel Nicolaus dropped their target price on Allbirds from $20.00 to $7.00 in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Allbirds presently has a consensus rating of “Buy” and a consensus price target of $14.33.

In other news, CFO Michael J. Bufano acquired 25,000 shares of the stock in a transaction on Monday, March 14th. The shares were purchased at an average cost of $5.17 per share, for a total transaction of $129,250.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

A number of hedge funds and other institutional investors have recently bought and sold shares of BIRD. Lord Abbett & CO. LLC grew its holdings in shares of Allbirds by 651.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 2,902,677 shares of the company’s stock valued at $17,445,000 after acquiring an additional 2,516,177 shares in the last quarter. Pictet Asset Management SA purchased a new position in shares of Allbirds during the 4th quarter valued at $22,075,000. Banque Pictet & Cie SA purchased a new position in shares of Allbirds during the 4th quarter valued at $18,398,000. Capital World Investors purchased a new position in shares of Allbirds during the 4th quarter valued at $18,096,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Allbirds during the 4th quarter valued at $16,671,000. Hedge funds and other institutional investors own 26.75% of the company’s stock.

BIRD opened at $4.25 on Friday. The company’s 50 day simple moving average is $5.61. Allbirds has a twelve month low of $3.71 and a twelve month high of $32.44.

About Allbirds (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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