Morgan Stanley Cuts Allbirds (NASDAQ:BIRD) Price Target to $4.00

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

Several other equities analysts have also commented on BIRD. Robert W. Baird lowered their price objective on shares of Allbirds from $8.00 to $7.00 and set an outperform rating for the company in a research report on Wednesday, November 9th. Cowen reduced their target price on shares of Allbirds from $7.00 to $5.00 and set an outperform rating on the stock in a research note on Friday, September 2nd. Telsey Advisory Group reduced their target price on shares of Allbirds from $7.00 to $5.00 and set an outperform rating on the stock in a research note on Wednesday, November 9th. Stifel Nicolaus reduced their target price on shares of Allbirds from $5.00 to $4.00 in a research note on Wednesday, November 9th. Finally, Piper Sandler reduced their target price on shares of Allbirds to $5.00 in a research note on Tuesday, November 15th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Allbirds has a consensus rating of Moderate Buy and a consensus price target of $8.43.

Allbirds Stock Up 3.0 %

BIRD stock opened at $2.79 on Tuesday. Allbirds has a 52 week low of $2.50 and a 52 week high of $20.60. The company has a fifty day simple moving average of $3.14 and a two-hundred day simple moving average of $4.14. The firm has a market capitalization of $416.69 million and a P/E ratio of -4.57.

Institutional Investors Weigh In On Allbirds

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIRD. Lord Abbett & CO. LLC boosted its stake in 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 boosted its stake in 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. State Street Corp boosted its stake in Allbirds by 1,721.5% during the 2nd quarter. State Street Corp now owns 1,510,865 shares of the company’s stock worth $5,938,000 after purchasing an additional 1,427,920 shares during the last quarter. Bank of America Corp DE boosted its stake in Allbirds by 847.6% during the 1st quarter. Bank of America Corp DE now owns 1,581,750 shares of the company’s stock worth $9,507,000 after purchasing an additional 1,414,831 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Allbirds by 1,692.3% during the 2nd quarter. Northern Trust Corp now owns 810,282 shares of the company’s stock valued at $3,185,000 after acquiring an additional 765,072 shares during the last quarter. Institutional investors and hedge funds own 34.82% of the company’s stock.

Allbirds Company Profile

(Get Rating)

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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