BIRD Forecasted to Post Q2 2023 Earnings of ($0.12) Per Share
$Allbirds, Inc.(BIRD)$ – Equities researchers at Wedbush lowered their Q2 2023 earnings estimates for Allbirds in a report issued on Monday, March 6th. Wedbush analyst T. Nikic now forecasts that the company will post earnings per share of ($0.12) for the quarter, down from their prior forecast of ($0.11). Wedbush currently has a “Neutral” rating and a $3.00 price target on the stock. The consensus estimate for Allbirds’ current full-year earnings is ($0.54) per share. Wedbush also issued estimates for Allbirds’ FY2023 earnings at ($0.45) EPS and FY2024 earnings at ($0.37) EPS.
Several other equities research analysts also recently commented on BIRD. Morgan Stanley lowered their target price on shares of Allbirds from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 22nd. BTIG Research assumed coverage on shares of Allbirds in a research report on Monday, February 6th. They set a “neutral” rating on the stock. Stifel Nicolaus reduced their price target on shares of Allbirds from $5.00 to $4.00 in a research note on Wednesday, November 9th. Guggenheim cut their target price on shares of Allbirds to $9.00 in a research report on Tuesday, November 15th. Finally, Piper Sandler lowered shares of Allbirds from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $5.00 to $4.00 in a report on Thursday, January 5th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Allbirds currently has an average rating of “Hold” and an average price target of $5.09.
Allbirds Price Performance
Shares ofBIRDopened at $2.56 on Wednesday. The company has a market capitalization of $382.34 million, a PE ratio of -4.20 and a beta of 1.90. The company’s fifty day moving average price is $2.69 and its 200 day moving average price is $3.03. Allbirds has a one year low of $2.14 and a one year high of $6.85.Institutional Investors Weigh In On Allbirds
Large investors have recently modified their holdings of the stock. Captrust Financial Advisors boosted its stake in shares of Allbirds by 90.8% during the first quarter. Captrust Financial Advisors now owns 6,514 shares of the company’s stock valued at $39,000 after acquiring an additional 3,100 shares during the last quarter. Centaurus Financial Inc. purchased a new position in Allbirds in the 3rd quarter worth approximately $31,000. Avalon Investment & Advisory purchased a new stake in Allbirds during the 1st quarter worth approximately $63,000. PFS Investments Inc. purchased a new stake in Allbirds during the 2nd quarter worth approximately $41,000. Finally, Victory Capital Management Inc. purchased a new stake in Allbirds during the 3rd quarter worth approximately $32,000. Hedge funds and other institutional investors own 33.14% of the company’s stock.
Insider Activity at Allbirds
In other news, CFO Michael J. Bufano sold 10,570 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $2.82, for a total transaction of $29,807.40. Following the completion of the transaction, the chief financial officer now directly owns 323,188 shares of the company’s stock, valued at $911,390.16. The sale was disclosed in a filing with the SEC, which is accessible throughthis link. In related news, CFO Michael J. Bufano sold 10,570 shares of the company’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $2.82, for a total value of $29,807.40. Following the completion of the transaction, the chief financial officer now directly owns 323,188 shares of the company’s stock, valued at $911,390.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible throughthe SEC website. Also, CEO Joseph Zwillinger sold 92,643 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $2.78, for a total value of $257,547.54. The disclosure for this sale can be foundhere. In the last ninety days, insiders have sold 162,896 shares of company stock worth $452,220. Company insiders own 31.93% of the company’s stock.
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.
source:defenseworld
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