Warby Parker (NYSE:WRBY) Raised to “Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Warby Parker (NYSE:WRBY) from a neutral rating to a buy rating in a research report report published on Monday, MarketBeat reports. They currently have $18.00 price target on the stock, up from their prior price target of $15.00.

Other research analysts have also recently issued research reports about the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a report on Thursday, August 8th. Piper Sandler assumed coverage on shares of Warby Parker in a report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 price objective for the company. Loop Capital lifted their price objective on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, July 10th. 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 note on Friday, August 9th. Finally, JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research note on Friday, August 23rd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Warby Parker Price Performance

NYSE WRBY opened at $18.20 on Monday. The company has a market capitalization of $1.83 billion, a PE ratio of -46.67 and a beta of 1.82. The company has a fifty day moving average of $14.97 and a 200 day moving average of $15.11. Warby Parker has a 1 year low of $9.83 and a 1 year high of $18.21.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, beating 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 analysts’ expectations of $186.89 million. Research analysts expect that Warby Parker will post -0.04 earnings per share for the current year.

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares of the company’s stock, valued at approximately $2,467,083.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bradley E. Singer acquired 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $13.00 per share, with a total value of $650,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at $1,300,000. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 99,178 shares of company stock valued at $1,339,901. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of WRBY. Advisors Asset Management Inc. lifted its holdings in shares of Warby Parker by 79.9% in the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after acquiring an additional 2,276 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Warby Parker in the 2nd quarter worth approximately $131,000. Sciencast Management LP acquired a new position in shares of Warby Parker in the 1st quarter worth approximately $145,000. Principal Financial Group Inc. acquired a new position in shares of Warby Parker in the 1st quarter worth approximately $158,000. Finally, Choreo LLC acquired a new position in shares of Warby Parker in the 2nd quarter worth approximately $167,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.