Allbirds (NASDAQ:BIRD) Given New $8.00 Price Target at Morgan Stanley

Allbirds (NASDAQ:BIRD) had its price target reduced by Morgan Stanley from $12.00 to $8.00 in a research report report published on Tuesday,Benzinga reports. They currently have an equal weight rating on the stock.

Allbirds Stock Performance

Shares of BIRD opened at $6.36 on Tuesday. The stock has a fifty day moving average price of $7.44 and a two-hundred day moving average price of $10.30. The company has a market cap of $50.45 million, a price-to-earnings ratio of -0.40 and a beta of 1.61. Allbirds has a 52-week low of $6.11 and a 52-week high of $22.40.

Allbirds (NASDAQ:BIRD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.68) EPS for the quarter, beating analysts’ consensus estimates of ($3.13) by $0.45. The firm had revenue of $43.00 million for the quarter, compared to analyst estimates of $42.11 million. Allbirds had a negative return on equity of 65.30% and a negative net margin of 60.43%. During the same period last year, the company earned ($4.20) EPS. As a group, research analysts predict that Allbirds will post -11.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Allbirds

A hedge fund recently bought a new stake in Allbirds stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Allbirds, Inc. (NASDAQ:BIRD) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 129,694 shares of the company’s stock, valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. owned about 0.08% of Allbirds as of its most recent SEC filing. 44.07% of the stock is owned by institutional investors.

Allbirds Company Profile

Allbirds, Inc manufactures and sells footwear and apparel products for men and women in the United States and internationally. The company offers a range of lifestyle and performance shoes; and apparel, including classic tees and sweats, socks, and underwear. It sells its products through its retail stores, as well as online.