Maxim Group analyst Tom Forte maintained a Buy rating on Allbirds yesterday and set a price target of $14.00.
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Tom Forte has given his Buy rating due to a combination of factors including Allbirds’ strategic restructuring efforts and the potential for future growth. Despite a challenging third quarter with revenue at the lower end of guidance, the company showed resilience with new product launches performing well and adjusted EBITDA exceeding expectations.
Forte acknowledges the company’s reduced revenue guidance for 2025 but remains optimistic about the anticipated improvement in revenue trends for the fourth quarter and beyond. He highlights the company’s ongoing restructuring efforts and its ability to capitalize on its brand for sustainable growth. Additionally, Allbirds’ shares are trading at a discount compared to peers, which, combined with the company’s strategic initiatives, supports the Buy rating and a price target of $14.
Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BIRD in relation to earlier this year.