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

Robert W. Baird reaffirmed their outperform rating on shares of Allbirds (NASDAQ:BIRDGet 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:BIRDGet 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

(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.

See Also

Analyst Recommendations for Allbirds (NASDAQ:BIRD)

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