Warby Parker Inc. (NYSE:WRBY) Receives $26.75 Consensus Target Price from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have earned an average rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.75.

A number of research analysts have issued reports on WRBY shares. Piper Sandler increased their target price on shares of Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Zacks Research raised Warby Parker from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Warby Parker in a report on Wednesday, December 17th. Citigroup raised Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Finally, UBS Group dropped their price target on Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, November 7th.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 100,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $30.29, for a total value of $3,029,000.00. Following the completion of the transaction, the chief executive officer owned 37,119 shares of the company’s stock, valued at approximately $1,124,334.51. The trade was a 72.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the company’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total value of $518,431.32. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at $520,200. The trade was a 49.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 158,764 shares of company stock valued at $4,676,278 over the last three months. 18.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its holdings in shares of Warby Parker by 259.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock valued at $33,000 after buying an additional 861 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Warby Parker by 400.3% during the second quarter. PNC Financial Services Group Inc. now owns 1,601 shares of the company’s stock valued at $35,000 after purchasing an additional 1,281 shares during the period. Huntington National Bank lifted its position in shares of Warby Parker by 111.0% during the second quarter. Huntington National Bank now owns 1,675 shares of the company’s stock worth $37,000 after purchasing an additional 881 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Warby Parker by 56.7% in the third quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock valued at $65,000 after purchasing an additional 850 shares during the period. Finally, Anderson Financial Strategies LLC boosted its stake in shares of Warby Parker by 39.0% in the first quarter. Anderson Financial Strategies LLC now owns 3,954 shares of the company’s stock valued at $72,000 after purchasing an additional 1,109 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Trading Down 0.8%

Shares of WRBY opened at $21.84 on Friday. The company’s 50 day simple moving average is $21.25 and its 200-day simple moving average is $23.37. The firm has a market cap of $2.31 billion, a PE ratio of 2,184.00 and a beta of 2.05. Warby Parker has a 12-month low of $13.63 and a 12-month high of $31.00.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The company had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. During the same quarter last year, the firm earned ($0.03) EPS. The business’s revenue was up 15.2% on a year-over-year basis. As a group, equities research analysts forecast that Warby Parker will post -0.12 EPS for the current fiscal year.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.