Allbirds (BIRD) Stock: $23 Price Target From Morgan Stanley

By Amit Chowdhry ● Dec 1, 2021
  • The shares of Allbirds Inc (NASDAQ: BIRD) have received a price target of $23 from Morgan Stanley. These are the details.

The shares of Allbirds Inc (NASDAQ: BIRD) have received a price target of $23 from Morgan Stanley. And Morgan Stanley analyst Kimberly Greenberger assigned the company an “Equal-Weight” rating.

Greenberger noted that Allbirds’ third-quarter results were at or slightly above the high end of the ranges given in the company’s S-1 filing for the IPO. But the after-market pullback in the stock price suggested that investors may have anticipated a bigger beat or higher initial fiscal year guidance.

Even though Greenberger sees near-term upside, the medium-term path to profitability is less clear and the stock’s rich valuation reflects the longer-term opportunity.

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