JMP Securities Forecasts Strong Price Appreciation for Warby Parker (NYSE:WRBY) Stock

Warby Parker (NYSE:WRBY) had its price objective boosted by equities research analysts at JMP Securities from $23.00 to $28.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ price target points to a potential upside of 15.27% from the stock’s current price.

WRBY has been the topic of a number of other reports. Robert W. Baird increased their price target on Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BTIG Research increased their target price on shares of Warby Parker from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the stock from $15.00 to $18.00 in a report on Monday, October 21st. The Goldman Sachs Group upped their price objective on shares of Warby Parker from $20.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Piper Sandler raised their target price on Warby Parker from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.73.

Warby Parker Trading Up 0.5 %

WRBY stock opened at $24.29 on Monday. The firm has a market cap of $2.47 billion, a PE ratio of -89.96 and a beta of 1.93. The stock has a 50-day moving average price of $20.11 and a 200-day moving average price of $17.05. Warby Parker has a 1-year low of $11.35 and a 1-year high of $24.71.

Insiders Place Their Bets

In related news, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $23.85, for a total transaction of $167,331.60. Following the transaction, the chief financial officer now directly owns 182,130 shares in the company, valued at approximately $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the completion of the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at approximately $287,986.05. This trade represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 108,032 shares of company stock valued at $2,503,303. Corporate insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of large investors have recently added to or reduced their stakes in the stock. Zweig DiMenna Associates LLC purchased a new stake in shares of Warby Parker during the 2nd quarter worth approximately $5,183,000. Bank of New York Mellon Corp grew its stake in shares of Warby Parker by 14.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 807,272 shares of the company’s stock worth $12,965,000 after acquiring an additional 104,360 shares during the period. Panagora Asset Management Inc. increased its holdings in Warby Parker by 8.6% in the 2nd quarter. Panagora Asset Management Inc. now owns 214,560 shares of the company’s stock worth $3,446,000 after acquiring an additional 16,939 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Warby Parker during the second quarter valued at about $675,000. Finally, Natixis Advisors LLC boosted its position in Warby Parker by 58.8% during the second quarter. Natixis Advisors LLC now owns 445,292 shares of the company’s stock worth $7,151,000 after purchasing an additional 164,879 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

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.