Analysts are Split on Allbirds Ahead of Its First-Ever Earnings Report

Allbirds is set to report financial results for the first time ever as a public company. Ahead of its announcement on Tuesday, analysts are split on their recommendations regarding the eco-friendly footwear company and are making recommendations on whether or not to buy shares of the company. Allbirds, the eco-friendly brand founded in 2015, made its market debut earlier this month. The company sold 20,192,307 shares of its Class A common stock at $15 per share and raised more than $300 million ahead of its market debut, beating initial expectations to raise $269 million for an IPO. Within hours of trading under the Nasdaq Global Select Market under the symbol BIRD, Allbirds stock was soaring above 60%. Allbirds stock was down over 3% in the early afternoon on Monday ahead of its earnings report. In recent notes, analysts from Stifel and Cowen maintained positive views on the potential for the brand, promoting “Buy” and “Outperform” ratings, respectively. “Allbirds is a sustainability pioneer, and the brand ethos aligns with consumer megatrends for conscious consumerism and casualization,” wrote Stifel analyst Jim Duffy. “With just 11% brand awareness in the U.S. market, we see the brand early in development. Also, compelling digital trends and retail economics suggest a long

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