Allbirds’ (NASDAQ:BIRD) quiet period is set to end on Monday, December 13th. Allbirds had issued 20,192,307 shares in its public offering on November 3rd. The total size of the offering was $302,884,605 based on an initial share price of $15.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of Allbirds in a research note on Monday, November 29th. They set a “neutral” rating and a $21.00 target price for the company. Morgan Stanley began coverage on Allbirds in a report on Monday, November 29th. They set an “equal weight” rating and a $23.00 price target on the stock. Guggenheim assumed coverage on shares of Allbirds in a research note on Monday, November 29th. They issued a “buy” rating and a $30.00 price objective for the company. William Blair started coverage on shares of Allbirds in a research note on Monday, November 29th. They set an “outperform” rating for the company. Finally, Robert W. Baird initiated coverage on shares of Allbirds in a research report on Monday, November 29th. They issued an “outperform” rating and a $26.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Allbirds currently has an average rating of “Buy” and an average target price of $24.91.
Shares of NASDAQ:BIRD opened at $14.19 on Monday. Allbirds has a 52-week low of $13.91 and a 52-week high of $32.44.
Allbirds (NASDAQ:BIRD) last released its quarterly earnings data on Tuesday, November 30th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The company had revenue of $62.00 million during the quarter, compared to analysts’ expectations of $61.96 million. Equities analysts anticipate that Allbirds will post -0.35 EPS for the current fiscal year.
In other news, major shareholder Maveron Equity Partners V, L.P sold 2,000,000 shares of the company’s stock in a transaction that occurred on Friday, November 5th. The stock was sold at an average price of $15.00, for a total transaction of $30,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 23,500 shares of Allbirds stock in a transaction that occurred on Tuesday, November 23rd. The shares were sold at an average price of $19.27, for a total value of $452,845.00. The disclosure for this sale can be found here.
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.