Allbirds stock has plunged 50% in two months, now one top analyst says buy it [Yahoo! Finance News]
Allbirds, Inc. (BIRD)
Company Research
Source: Yahoo! Finance News
With shares of newly minted IPO Allbirds (BIRDdown a whopping 50% from their highs"Valuation appears compelling, at ~4 times consensus 2023 estimated EV/Sales compared to its ~10 times post-IPO high and peers with comparable revenue growth at 5 times plus. Tempered valuation makes for an attractive entry point, particularly as an opportunity for BIRD [exists] to accelerate revenue growth to 28% in 2022 estimated from 24% in 2021 estimates," said Morgan Stanley retail analyst Kimberly Greenberger in a note out on Thursday.Greenberger upgraded her rating on Allbirds to Overweight (Buy equivalent) with a $17 price target.Shares of Allbirds rose nearly 7% to $14.50 in trading on Thursday.Greenberger's buy-the-dip call appears to make sense for a few reasons.First, Allbirds has shown it has strong promise in its early days as a public company even if profits still remain elusive as it invests in growth. Third quarter net sales rose 33% from a year ago. Gross profit margins rose 120 basis p
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BIRD
News
- These Are The 23 Best Deals In REI's Sale Section Right Now [Forbes]Forbes
- Allbirds Announces First Quarter 2024 Earnings Conference CallGlobeNewswire
- Adidas Sambas might be the hottest sneaker of the year—but are they worth it? [USA TODAY]USA TODAY
- Easy ways to go green for Earth Day 2024 and beyond [USA TODAY]USA TODAY
- 15 sustainable clothing brands to help you feel better about your closet [CNN]CNN
BIRD
Earnings
- 3/12/24 - Miss
BIRD
Sec Filings
- 4/8/24 - Form 8-K
- 3/19/24 - Form 4
- 3/13/24 - Form 10-K
- BIRD's page on the SEC website