Warby Parker Inc. (NYSE:WRBY) Receives $17.11 Average Target Price from Brokerages

Warby Parker Inc. (NYSE:WRBY) has been assigned an average rating of “Moderate Buy” from the nine analysts that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $17.11.

Several research analysts have weighed in on the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. Loop Capital increased their price objective on Warby Parker from $15.00 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a research report on Friday, August 23rd. Stifel Nicolaus boosted their target price on shares of Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday, August 9th. Finally, Piper Sandler initiated coverage on shares of Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 price target on the stock.

Insider Activity

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $13.89, for a total value of $694,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $169,138.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $13.89, for a total transaction of $694,500.00. Following the completion of the transaction, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $169,138.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now directly owns 184,251 shares in the company, valued at approximately $2,395,263. The disclosure for this sale can be found here. Insiders have sold a total of 5,592,415 shares of company stock valued at $87,375,895 over the last 90 days. 26.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its holdings in Warby Parker by 79.9% in the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock valued at $70,000 after purchasing an additional 2,276 shares during the period. First Eagle Investment Management LLC bought a new stake in shares of Warby Parker in the second quarter valued at about $131,000. Sciencast Management LP acquired a new stake in Warby Parker during the first quarter worth about $145,000. Principal Financial Group Inc. bought a new position in Warby Parker during the first quarter valued at about $158,000. Finally, Victory Capital Management Inc. acquired a new position in Warby Parker in the 4th quarter valued at approximately $160,000. Institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

WRBY stock opened at $14.04 on Monday. The firm has a 50 day simple moving average of $15.01 and a 200 day simple moving average of $14.53. Warby Parker has a 52 week low of $9.83 and a 52 week high of $17.95. The stock has a market cap of $1.39 billion, a P/E ratio of -29.87 and a beta of 1.81.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. The company had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. Sell-side analysts predict that Warby Parker will post -0.04 EPS for the current year.

About Warby Parker

Warby Parker Inc provides eyewear products in the United States and Canada. The company offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, non-prescription lenses, and contact lenses. It also provides accessories, such as cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray through its retail stores, website, and mobile apps.