Allbirds (NASDAQ:BIRD) PT Lowered to $4.00

Allbirds (NASDAQ:BIRDGet Rating) had its target price lowered by Morgan Stanley from $5.00 to $4.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages have also weighed in on BIRD. Cowen decreased their price objective on Allbirds from $7.00 to $5.00 and set an outperform rating on the stock in a report on Friday, September 2nd. Cowen decreased their price objective on Allbirds from $7.00 to $5.00 and set an outperform rating on the stock in a report on Friday, September 2nd. Piper Sandler decreased their price objective on Allbirds to $5.00 in a report on Tuesday, November 15th. Robert W. Baird decreased their price objective on Allbirds from $8.00 to $7.00 and set an outperform rating on the stock in a report on Wednesday, November 9th. Finally, Stifel Nicolaus decreased their price objective on Allbirds from $5.00 to $4.00 in a report on Wednesday, November 9th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Allbirds has a consensus rating of Moderate Buy and a consensus target price of $8.43.

Allbirds Price Performance

Shares of NASDAQ:BIRD opened at $2.71 on Tuesday. Allbirds has a 1 year low of $2.50 and a 1 year high of $22.33. The firm has a market capitalization of $404.75 million and a price-to-earnings ratio of -4.44. The business’s 50 day moving average price is $3.19 and its 200-day moving average price is $4.16.

Institutional Trading of Allbirds

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Allbirds by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 9,046,131 shares of the company’s stock worth $27,500,000 after purchasing an additional 535,424 shares during the last quarter. BlackRock Inc. increased its position in shares of Allbirds by 4.4% during the 3rd quarter. BlackRock Inc. now owns 6,507,837 shares of the company’s stock worth $19,783,000 after purchasing an additional 273,005 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Allbirds by 651.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 2,902,677 shares of the company’s stock worth $17,445,000 after purchasing an additional 2,516,177 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Allbirds by 850.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,492,582 shares of the company’s stock worth $7,578,000 after purchasing an additional 2,230,439 shares during the last quarter. Finally, State Street Corp increased its position in shares of Allbirds by 12.6% during the 3rd quarter. State Street Corp now owns 1,701,294 shares of the company’s stock worth $5,172,000 after purchasing an additional 190,429 shares during the last quarter. 34.82% of the stock is owned by institutional investors and hedge funds.

About Allbirds

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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.

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Analyst Recommendations for Allbirds (NASDAQ:BIRD)

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