Allbirds, Inc. (NASDAQ:BIRD – Get Rating)’s stock price fell 3.8% during mid-day trading on Friday after Cowen lowered their price target on the stock from $7.00 to $5.00. Cowen currently has an outperform rating on the stock. Allbirds traded as low as $3.85 and last traded at $3.85. 3,840 shares were traded during trading, a decline of 100% from the average session volume of 2,297,125 shares. The stock had previously closed at $4.00.
BIRD has been the subject of a number of other reports. Cowen decreased their price objective on Allbirds from $16.00 to $7.00 in a research report on Wednesday, May 11th. Stifel Nicolaus downgraded shares of Allbirds from a “buy” rating to a “hold” rating and lowered their price objective for the company from $7.00 to $5.00 in a research report on Wednesday, July 20th. Robert W. Baird reiterated an “outperform” rating and issued a $9.00 target price on shares of Allbirds in a research report on Wednesday, August 3rd. Piper Sandler lowered their price target on shares of Allbirds from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, August 9th. Finally, Telsey Advisory Group dropped their price target on shares of Allbirds from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 2nd. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.71.
Institutional Investors Weigh In On Allbirds
A number of large investors have recently added to or reduced their stakes in the stock. FourThought Financial LLC acquired a new stake in shares of Allbirds in the first quarter valued at about $37,000. Captrust Financial Advisors boosted its stake in Allbirds by 90.8% during the 1st quarter. Captrust Financial Advisors now owns 6,514 shares of the company’s stock valued at $39,000 after purchasing an additional 3,100 shares during the period. Avalon Investment & Advisory acquired a new stake in Allbirds in the 1st quarter valued at approximately $63,000. PFS Investments Inc. bought a new position in Allbirds in the 2nd quarter worth approximately $41,000. Finally, ProShare Advisors LLC acquired a new position in shares of Allbirds during the second quarter worth approximately $41,000. Institutional investors own 34.82% of the company’s stock.
Allbirds Stock Down 3.8 %
The firm has a 50-day moving average price of $4.70 and a two-hundred day moving average price of $5.48. The company has a market capitalization of $567.36 million and a P/E ratio of -5.80.
Allbirds (NASDAQ:BIRD – Get Rating) last released its earnings results on Monday, August 8th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.04. The firm had revenue of $78.17 million during the quarter, compared to analysts’ expectations of $77.78 million. Allbirds had a negative net margin of 25.09% and a negative return on equity of 23.75%. The firm’s revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Allbirds, Inc. will post -0.55 EPS for the current fiscal year.
Allbirds Company Profile
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.