Zacks: Brokerages Expect Allbirds Inc (NASDAQ:BIRD) Will Post Quarterly Sales of $91.91 Million

Analysts expect Allbirds Inc (NASDAQ:BIRD) to post sales of $91.91 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Allbirds’ earnings, with the lowest sales estimate coming in at $91.20 million and the highest estimate coming in at $93.34 million. The business is scheduled to announce its next earnings report on Tuesday, March 1st.

According to Zacks, analysts expect that Allbirds will report full year sales of $272.18 million for the current year, with estimates ranging from $271.40 million to $273.59 million. For the next financial year, analysts anticipate that the company will post sales of $351.48 million, with estimates ranging from $349.95 million to $353.74 million. Zacks’ sales averages are an average based on a survey of research analysts that cover Allbirds.

Allbirds (NASDAQ:BIRD) last announced its earnings results on Tuesday, November 30th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.13). The company had revenue of $62.00 million for the quarter, compared to analyst estimates of $61.96 million.

A number of brokerages recently issued reports on BIRD. KeyCorp began coverage on shares of Allbirds in a research report on Monday, November 29th. They set an “overweight” rating and a $28.00 target price on the stock. Berenberg Bank began coverage on shares of Allbirds in a research report on Monday, November 22nd. They set a “hold” rating and a $23.00 target price on the stock. They noted that the move was a valuation call. Robert W. Baird began coverage on shares of Allbirds in a research report on Monday, November 29th. They set an “outperform” rating and a $26.00 target price on the stock. Morgan Stanley upgraded shares of Allbirds from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $23.00 to $17.00 in a research note on Thursday, January 6th. Finally, Stifel Nicolaus began coverage on shares of Allbirds in a research note on Monday, November 29th. They set a “buy” rating and a $25.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $24.36.

In other Allbirds news, major shareholder Goldman Sachs Group Inc sold 23,500 shares of the business’s stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $19.27, for a total transaction of $452,845.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Maveron Equity Partners V, L.P sold 2,000,000 shares of the company’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $15.00, for a total value of $30,000,000.00. The disclosure for this sale can be found here.

A hedge fund recently bought a new stake in Allbirds stock. Koshinski Asset Management Inc. bought a new position in shares of Allbirds Inc (NASDAQ:BIRD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,421 shares of the company’s stock, valued at approximately $52,000. 18.89% of the stock is owned by institutional investors.

BIRD stock traded up $0.46 on Tuesday, reaching $13.92. 1,026,291 shares of the company were exchanged, compared to its average volume of 1,657,712. Allbirds has a 12 month low of $12.56 and a 12 month high of $32.44. The company has a fifty day simple moving average of $17.62.

About Allbirds

Allbirds Inc is a lifestyle brand with naturally derived materials to make footwear and apparel products. Allbirds Inc is based in SAN FRANCISCO.

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Earnings History and Estimates for Allbirds (NASDAQ:BIRD)

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