Warby Parker Inc. (NYSE:WRBY) Receives $16.75 Average Target Price from Analysts

Warby Parker Inc. (NYSE:WRBY) has been given a consensus rating of “Moderate Buy” by the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $16.75.

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

Insider Activity at Warby Parker

In related news, CFO Steven Clive Miller sold 15,272 shares of Warby Parker stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares of the company’s stock, valued at approximately $2,395,263. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Warby Parker news, CFO Steven Clive Miller sold 15,272 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following the transaction, the chief financial officer now owns 184,251 shares in the company, valued at $2,395,263. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bradley E. Singer bought 50,000 shares of Warby Parker stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average cost of $13.00 per share, with a total value of $650,000.00. Following the transaction, the director now owns 100,000 shares of the company’s stock, valued at $1,300,000. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 99,178 shares of company stock worth $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently made changes to their positions in WRBY. Vaughan Nelson Investment Management L.P. lifted its position in Warby Parker by 113.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock worth $39,787,000 after purchasing an additional 1,315,672 shares during the period. Marshall Wace LLP lifted its holdings in shares of Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock worth $22,852,000 after acquiring an additional 1,295,136 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after acquiring an additional 1,011,030 shares in the last quarter. Vanguard Group Inc. increased its stake in Warby Parker by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after acquiring an additional 607,352 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Warby Parker by 44.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after purchasing an additional 481,900 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Stock Performance

Shares of WRBY opened at $16.10 on Friday. The stock has a 50 day simple moving average of $14.69 and a 200 day simple moving average of $14.86. Warby Parker has a 52-week low of $9.83 and a 52-week high of $17.95. The firm has a market capitalization of $1.62 billion, a PE ratio of -34.26 and a beta of 1.82.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Equities research analysts predict that Warby Parker will post -0.04 EPS for the current fiscal year.

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.