Analyst Downgrades Allbirds Stock on Revenue, Competition

Analysts were split on the equity coming into today

Deputy Editor
Mar 6, 2023 at 10:25 AM
facebook twitter linkedin


Wedbush downgraded the shares of footwear and apparel manufacturer Allbirds Inc (NASDAQ:BIRD) to "neutral" form "outperform" and cut its target price by $1 to $3, citing slowing revenue growth and concerns about underperformance compared to its sector peers.

Coming into today, half of the 12 covering brokerages still recommended a "strong buy," so we could see a further shift in analyst sentiment in the near term. What's more, BIRD's 12-month average target price of $4.80 is a 60% premium to Friday's close, leaving room for more price adjustments to the lower end. 

Allbirds stock is taking a step back in response, last seen 4.4% lower to trade at $2.93. The stock just snapped a three-week losing streak, and stands 22.5% higher in 2023; however, year-over-year, BIRD is down more than 53%. 

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 


 


 
Special Offers from Schaeffer's Trading Partners