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Allbirds, despite beating loss expectations, sees stock drop as revenue falls 22.4%.
Allbirds Inc., an eco-friendly shoe and apparel company, reported a narrower quarterly loss of ($3.23) per share, better than the predicted ($3.40), but its stock dropped to $6.16.
Morgan Stanley lowered its price target for Allbirds from $12.00 to $8.00 and rated the stock "equal weight."
Despite beating analyst expectations, the company's revenue fell 22.4% to $55.9 million, and its full-year revenue declined 25.3% to $189.8 million.
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Allbirds, a pesar de superar las expectativas de pérdida, ve la caída de stock como los ingresos caen 22.4%.