Robert W. Baird Reaffirms Outperform Rating for Allbirds (NASDAQ:BIRD)

Robert W. Baird reaffirmed their outperform rating on shares of Allbirds (NASDAQ:BIRD – Get Rating) in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have a $9.00 price objective on the stock.

A number of other equities analysts have also recently issued reports on BIRD. Berenberg Bank restated a hold rating and issued a $5.00 target price on shares of Allbirds in a report on Friday, May 20th. Piper Sandler assumed coverage on Allbirds in a report on Friday, July 22nd. They set an overweight rating and a $10.00 price target on the stock. Stifel Nicolaus downgraded Allbirds from a buy rating to a hold rating and lowered their price target for the company from $7.00 to $5.00 in a report on Wednesday, July 20th. Telsey Advisory Group lowered their price target on Allbirds from $9.00 to $7.00 and set an outperform rating on the stock in a report on Tuesday. Finally, Wedbush assumed coverage on Allbirds in a report on Thursday, April 28th. They set an outperform rating and a $8.00 price target on the stock. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $11.86.

Allbirds Stock Performance

Shares of NASDAQ BIRD opened at $5.27 on Wednesday. The stock’s fifty day simple moving average is $4.87 and its 200 day simple moving average is $6.41. Allbirds has a 52-week low of $3.64 and a 52-week high of $32.44.

Allbirds (NASDAQ:BIRD – Get Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03). The company had revenue of $62.76 million during the quarter, compared to analyst estimates of $61.97 million. The firm’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.25) EPS. 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 purchased 50,000 shares of Allbirds stock in a transaction on Tuesday, May 17th. The stock was bought at an average price of $4.86 per share, with a total value of $243,000.00. Following the completion of the transaction, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $243,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 31.93% of the company’s stock.

Institutional Trading of Allbirds

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ritter Daniher Financial Advisory LLC acquired a new stake in shares of Allbirds in the fourth quarter worth about $30,000. FourThought Financial LLC acquired a new stake in shares of Allbirds in the first quarter worth about $37,000. Captrust Financial Advisors lifted its position in shares of 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 buying an additional 3,100 shares during the last quarter. Avalon Investment & Advisory acquired a new stake in shares of Allbirds in the first quarter worth about $63,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Allbirds in the second quarter worth about $41,000. Institutional investors and hedge funds own 26.75% of the company’s stock.

Allbirds Company Profile

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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.