Allbirds, Inc. (NASDAQ:BIRD – Get Rating) – William Blair cut their Q2 2022 EPS estimates for Allbirds in a research note issued to investors on Tuesday, August 2nd. William Blair analyst S. Zackfia now expects that the company will post earnings of ($0.15) per share for the quarter, down from their previous forecast of ($0.13). The consensus estimate for Allbirds’ current full-year earnings is ($0.47) per share. William Blair also issued estimates for Allbirds’ Q3 2022 earnings at ($0.12) EPS, Q4 2022 earnings at ($0.05) EPS, FY2022 earnings at ($0.47) EPS and FY2023 earnings at ($0.44) EPS.
BIRD has been the subject of several other research reports. Wedbush assumed coverage on shares of Allbirds in a research note on Thursday, April 28th. They set an “outperform” rating and a $8.00 target price for the company. Berenberg Bank reiterated a “hold” rating and set a $5.00 target price on shares of Allbirds in a research note on Friday, May 20th. KeyCorp began coverage on shares of Allbirds in a research report on Wednesday, July 20th. They set a “sector weight” rating for the company. Stifel Nicolaus lowered shares of Allbirds from a “buy” rating to a “hold” rating and lowered their price target for the stock from $7.00 to $5.00 in a research report on Wednesday, July 20th. Finally, Robert W. Baird restated an “outperform” rating and set a $9.00 price target on shares of Allbirds in a research report on Wednesday. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.86.
Allbirds Trading Up 6.2 %
Allbirds (NASDAQ:BIRD – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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. During the same period last year, the firm posted ($0.25) EPS. Allbirds’s revenue was up 26.4% compared to the same quarter last year.
Institutional Investors Weigh In On Allbirds
Institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP acquired a new stake in Allbirds in the 1st quarter valued at about $1,123,000. Lombard Odier Asset Management Europe Ltd purchased a new stake in Allbirds during the fourth quarter valued at about $3,720,000. Wesbanco Bank Inc. acquired a new position in shares of Allbirds in the 1st quarter valued at about $116,000. Advisor Group Holdings Inc. acquired a new position in shares of Allbirds in the 4th quarter valued at about $253,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Allbirds in the 4th quarter valued at about $162,000. 26.75% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Timothy O. Brown acquired 50,000 shares of Allbirds stock in a transaction that occurred on Tuesday, May 17th. The stock was acquired at an average price of $4.86 per share, with a total value of $243,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at approximately $243,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 31.93% of the company’s stock.
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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