Allbirds (NASDAQ:BIRD) Raised to Hold at Wall Street Zen

Key Points

• Allbirds has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a more optimistic outlook on the stock.
• Morgan Stanley raised its price target for Allbirds shares from $5.00 to $8.00, signaling confidence in the company despite its recent performance.
• Allbirds reported a quarterly revenue of $39.69 million, exceeding analysts' expectations, yet its earnings per share were still negative at ($1.92).

Allbirds (NASDAQ:BIRD - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Sunday.

Separately, Morgan Stanley increased their price target on shares of Allbirds from $5.00 to $8.00 and gave the company an "equal weight" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Allbirds presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Allbirds Stock Up 0.5%

NASDAQ:BIRD traded up $0.03 during mid-day trading on Friday, reaching $6.47. The company's stock had a trading volume of 58,045 shares, compared to its average volume of 71,030. Allbirds has a 1 year low of $3.93 and a 1 year high of $18.33. The stock has a fifty day moving average of $9.90 and a 200-day moving average of $7.52. The firm has a market capitalization of $52.73 million, a PE ratio of -0.61 and a beta of 1.90. The company has a quick ratio of 1.41, a current ratio of 2.55 and a debt-to-equity ratio of 0.07.

Allbirds (NASDAQ:BIRD - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($1.92) earnings per share for the quarter, topping analysts' consensus estimates of ($2.78) by $0.86. The company had revenue of $39.69 million during the quarter, compared to analyst estimates of $38.44 million. Allbirds had a negative net margin of 49.36% and a negative return on equity of 87.92%. Allbirds has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Equities research analysts forecast that Allbirds will post -11.87 earnings per share for the current year.

Insider Activity

In other news, CEO Joseph Vernachio sold 4,450 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $7.15, for a total transaction of $31,817.50. Following the transaction, the chief executive officer owned 98,032 shares in the company, valued at $700,928.80. This represents a 4.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 30.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allbirds

Several hedge funds have recently modified their holdings of BIRD. JPMorgan Chase & Co. increased its holdings in shares of Allbirds by 169.4% during the fourth quarter. JPMorgan Chase & Co. now owns 6,232 shares of the company's stock valued at $43,000 after acquiring an additional 3,919 shares in the last quarter. Jane Street Group LLC acquired a new position in Allbirds in the 4th quarter worth approximately $104,000. Cubist Systematic Strategies LLC acquired a new position in Allbirds in the 4th quarter worth approximately $70,000. Jacobs Levy Equity Management Inc. increased its holdings in Allbirds by 262.5% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 42,521 shares of the company's stock worth $296,000 after buying an additional 30,791 shares during the period. Finally, PDT Partners LLC acquired a new position in Allbirds in the 1st quarter worth approximately $76,000. Institutional investors and hedge funds 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.