Morgan Stanley Has Lowered Expectations for Allbirds (NASDAQ:BIRD) Stock Price

Allbirds (NASDAQ:BIRD) had its price target decreased by stock analysts at Morgan Stanley from $6.00 to $5.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 7.15% from the company’s current price.

Separately, Maxim Group started coverage on shares of Allbirds in a research note on Friday, April 11th. They issued a “buy” rating and a $14.00 price target on the stock.

Allbirds Stock Performance

Shares of NASDAQ BIRD traded up $0.14 during trading on Monday, hitting $5.39. 12,598 shares of the company were exchanged, compared to its average volume of 59,244. Allbirds has a 12-month low of $3.93 and a 12-month high of $18.33. The company has a fifty day moving average price of $5.37 and a 200-day moving average price of $6.83. The firm has a market capitalization of $43.09 million, a PE ratio of -0.33 and a beta of 1.47.

Allbirds (NASDAQ:BIRD) last issued its earnings results on Thursday, May 8th. The company reported ($2.73) EPS for the quarter, topping analysts’ consensus estimates of ($3.85) by $1.12. The company had revenue of $32.11 million for the quarter, compared to the consensus estimate of $29.98 million. Allbirds had a negative net margin of 60.43% and a negative return on equity of 65.30%. Research analysts anticipate that Allbirds will post -11.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BIRD. Performa Ltd US LLC lifted its stake in shares of Allbirds by 64.0% in the 4th quarter. Performa Ltd US LLC now owns 8,200 shares of the company’s stock worth $57,000 after acquiring an additional 3,200 shares during the period. JPMorgan Chase & Co. raised its holdings in Allbirds by 169.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company’s stock worth $43,000 after purchasing an additional 3,919 shares in the last quarter. Jane Street Group LLC acquired a new stake in Allbirds in the fourth quarter valued at about $104,000. Cubist Systematic Strategies LLC acquired a new position in Allbirds during the 4th quarter worth approximately $70,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Allbirds by 262.5% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company’s stock worth $296,000 after acquiring an additional 30,791 shares during the period. Hedge funds and other institutional investors own 44.07% of the company’s stock.

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.