Piper Sandler research analysts have started covering stocks of Allbirds (NASDAQ:BIRD – Get a Rating) in a research report delivered to clients and investors on Friday, reports MarketBeat Ratings. The brokerage set an “overweight” rating and a price target of $10.00 on the stock. Piper Sandler’s price target indicates a potential upside of 95.69% from the company’s current price.
Several other analysts also released reports on the stock. Robert W. Baird rephrased an “outperform” rating and issued a $10.00 price target on Allbirds stock in a research report on Wednesday, June 1. Cowen cut his price target on Allbirds shares from $16.00 to $7.00 in a Wednesday, May 11 research report. KeyCorp launched a hedge on Allbirds stock in a research report on Wednesday. They issued a “sector weight” rating on the stock. Cowen cut his price target on Allbirds shares from $16.00 to $7.00 in a Wednesday, May 11 research report. Finally, Stifel Nicolaus downgraded Allbirds shares from a “buy” rating to a “hold” rating and lowered his price target for the stock from $7.00 to $5.00 in a research report Wednesday. Five research analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.57.
Allbirds is trading down 5.5%
NASDAQ:BIRD opened at $5.11 on Friday. Allbirds has a 1 year minimum of $3.64 and a 1 year maximum of $32.44. The company’s fifty-day simple moving average is $4.82 and its 200-day simple moving average is $6.99.
Allbirds (NASDAQ:BIRD – Get Rating) last released its results on Tuesday, May 10. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.12) by ($0.03). The company posted revenue of $62.76 million for the quarter, versus analyst estimates of $61.97 million. In the same quarter of the previous year, the company achieved EPS of ($0.25). The company’s revenue increased by 26.4% compared to the same quarter last year. As a group, equity research analysts expect Allbirds to post -0.46 earnings per share for the current year.
Insider activity at Allbirds
In other news, CEO Timothy O. Brown bought 50,000 shares of the company in a deal that took place on Tuesday, May 17. The shares were purchased at an average cost of $4.86 per share, with a total value of $243,000.00. As a result of the acquisition, the CEO now directly owns 50,000 shares of the company, valued at approximately $243,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this hyperlink. 31.93% of the shares are currently held by insiders.
Hedge funds weigh on Allbirds
A number of institutional investors have recently changed their stock portfolios. Ritter Daniher Financial Advisory LLC bought a new position in Allbirds stock in the fourth quarter worth about $30,000. Captrust Financial Advisors increased its stake in Allbirds shares to 90.8% in the first quarter. Captrust Financial Advisors now owns 6,514 shares of the company worth $39,000 after acquiring 3,100 additional shares in the last quarter. FourThought Financial LLC bought a new position in Allbirds stock in the first quarter worth about $37,000. Northern Trust Corp increased its stake in Allbirds shares by 26.5% in the first quarter. Northern Trust Corp now owns 45,210 shares of the company worth $272,000 after acquiring 9,478 additional shares in the last quarter. Finally, Avalon Investment & Advisory bought a new position in Allbirds stock in the first quarter worth about $63,000. 26.75% of the shares are held by institutional investors.
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Allbirds, Inc. manufactures and sells footwear and apparel for men and women. It offers shoes, such as running shoes, everyday sneakers, high-top shoes, slip-on shoes, boat shoes, flat shoes, waterproof shoes, and sandals. The Company’s apparel products include sportswear, tops, bottoms, dresses, sweaters, underwear and socks.
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