Allbirds, Inc. (NASDAQ:BIRD) Receives Consensus Rating of “Buy” from Brokerages

Shares of Allbirds, Inc. (NASDAQ:BIRDGet Rating) have been assigned a consensus rating of “Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.14.

BIRD has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price target on Allbirds from $20.00 to $7.00 in a research report on Wednesday, May 11th. Bank of America decreased their target price on Allbirds from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, February 24th. Wedbush started coverage on Allbirds in a research report on Thursday, April 28th. They set an “outperform” rating and a $8.00 target price for the company. Zacks Investment Research lowered Allbirds from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Finally, Robert W. Baird decreased their target price on Allbirds from $17.00 to $10.00 in a research report on Wednesday, May 11th.

Shares of NASDAQ:BIRD opened at $4.39 on Monday. The business’s 50-day moving average is $5.47 and its 200-day moving average is $11.11. Allbirds has a 1 year low of $3.71 and a 1 year high of $32.44.

Allbirds (NASDAQ:BIRDGet Rating) last issued its 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 firm’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.25) earnings per share. On average, equities research analysts forecast that Allbirds will post -0.46 EPS for the current fiscal year.

In related news, CEO Timothy O. Brown bought 50,000 shares of the business’s stock in a transaction on Tuesday, May 17th. The stock was acquired at an average price of $4.86 per share, for a total transaction of $243,000.00. Following the purchase, the chief executive officer now directly owns 50,000 shares in the company, valued at $243,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael J. Bufano bought 25,000 shares of the business’s stock in a transaction on Monday, March 14th. The stock was bought at an average price of $5.17 per share, with a total value of $129,250.00. The disclosure for this purchase can be found here.

Institutional investors and hedge funds have recently modified their holdings of the company. AGF Investments America Inc. bought a new stake in shares of Allbirds during the 4th quarter valued at about $2,974,000. Advisor Group Holdings Inc. bought a new stake in shares of Allbirds during the 4th quarter valued at about $253,000. Baillie Gifford & Co. bought a new stake in shares of Allbirds during the 4th quarter valued at about $8,030,000. Koshinski Asset Management Inc. bought a new stake in shares of Allbirds during the 4th quarter valued at about $52,000. Finally, Rheos Capital Works Inc. bought a new stake in shares of Allbirds during the 4th quarter valued at about $2,187,000. Hedge funds and other institutional investors own 26.75% of the company’s stock.

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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Analyst Recommendations for Allbirds (NASDAQ:BIRD)

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