Morgan Stanley Lowers Allbirds (NASDAQ:BIRD) Price Target to $8.00

Allbirds (NASDAQ:BIRD) had its target price cut by Morgan Stanley from $12.00 to $8.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 22.70% from the company’s previous close.

Allbirds Stock Performance

Shares of BIRD opened at $6.52 on Tuesday. The stock has a market capitalization of $51.70 million, a P/E ratio of -0.41 and a beta of 1.61. The company’s fifty day moving average is $7.44 and its two-hundred day moving average is $10.30. Allbirds has a 1 year low of $6.11 and a 1 year high of $22.40.

Allbirds (NASDAQ:BIRD) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($2.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.13) by $0.45. Allbirds had a negative net margin of 60.43% and a negative return on equity of 65.30%. The business had revenue of $43.00 million for the quarter, compared to analysts’ expectations of $42.11 million. During the same period in the prior year, the company posted ($4.20) EPS. Sell-side analysts predict that Allbirds will post -11.89 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Allbirds stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Allbirds, Inc. (NASDAQ:BIRD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 129,694 shares of the company’s stock, valued at approximately $65,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.08% of Allbirds as of its most recent filing with the Securities and Exchange Commission. 44.07% of the stock is owned by institutional investors and hedge funds.

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.