Telsey Advisory Group Cuts Allbirds (NASDAQ:BIRD) Price Target to $7.00

Allbirds (NASDAQ:BIRDGet Rating) had its price target cut by Telsey Advisory Group from $9.00 to $7.00 in a research note published on Tuesday morning, MarketBeat reports. They currently have an outperform rating on the stock. Telsey Advisory Group also issued estimates for Allbirds’ Q3 2022 earnings at ($0.10) EPS, Q4 2022 earnings at ($0.07) EPS, FY2022 earnings at ($0.48) EPS and FY2023 earnings at ($0.34) EPS.

Other equities analysts have also issued reports about the stock. Robert W. Baird reissued an outperform rating and issued a $10.00 price objective on shares of Allbirds in a research report on Wednesday, June 1st. Piper Sandler began coverage on shares of Allbirds in a research note on Friday, July 22nd. They issued an overweight rating and a $10.00 price target on the stock. Berenberg Bank restated a hold rating and issued a $5.00 price target on shares of Allbirds in a research note on Friday, May 20th. Cowen reduced their price target on shares of Allbirds from $16.00 to $7.00 in a research note on Wednesday, May 11th. Finally, Stifel Nicolaus downgraded shares of Allbirds from a buy rating to a hold rating and reduced their price target for the company from $7.00 to $5.00 in a research note on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Allbirds has a consensus rating of Moderate Buy and a consensus target price of $11.86.

Allbirds Stock Up 6.2 %

Shares of BIRD opened at $5.27 on Tuesday. The stock’s fifty day simple moving average is $4.87 and its 200-day simple moving average is $6.41. Allbirds has a 12-month low of $3.64 and a 12-month high of $32.44.

Allbirds (NASDAQ:BIRDGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.03). The firm had revenue of $62.76 million for the quarter, compared to the consensus estimate of $61.97 million. During the same period last year, the company earned ($0.25) earnings per share. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. As a group, sell-side analysts predict that Allbirds will post -0.47 EPS for the current year.

Insider Buying and Selling at Allbirds

In related news, CEO Timothy O. Brown acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, May 17th. The stock was purchased at an average price of $4.86 per share, with a total value of $243,000.00. Following the completion of the purchase, the chief executive officer now owns 50,000 shares in the company, valued at approximately $243,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 31.93% of the company’s stock.

Institutional Trading of Allbirds

A number of institutional investors have recently made changes to their positions in the stock. Ritter Daniher Financial Advisory LLC purchased a new stake in Allbirds in the fourth quarter worth $30,000. Captrust Financial Advisors lifted its stake in Allbirds by 90.8% in the first quarter. Captrust Financial Advisors now owns 6,514 shares of the company’s stock worth $39,000 after acquiring an additional 3,100 shares during the period. Game Plan Financial Advisors LLC lifted its stake in Allbirds by 41.7% in the second quarter. Game Plan Financial Advisors LLC now owns 17,000 shares of the company’s stock worth $65,000 after acquiring an additional 5,000 shares during the period. FourThought Financial LLC purchased a new stake in Allbirds in the first quarter worth $37,000. Finally, Northern Trust Corp lifted its stake in Allbirds by 26.5% in the first quarter. Northern Trust Corp now owns 45,210 shares of the company’s stock worth $272,000 after acquiring an additional 9,478 shares during the period. Hedge funds and other institutional investors 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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Analyst Recommendations for Allbirds (NASDAQ:BIRD)

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