JMP Securities Initiates Coverage on Warby Parker (NYSE:WRBY)

JMP Securities began coverage on shares of Warby Parker (NYSE:WRBY – Get Rating) in a research report issued on Wednesday, The Fly reports. The brokerage set a “market perform” rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Robert W. Baird cut their price target on Warby Parker from $20.00 to $18.00 in a research note on Wednesday, May 10th. BTIG Research started coverage on shares of Warby Parker in a research report on Monday, February 6th. They set a “neutral” rating for the company. Telsey Advisory Group restated an “outperform” rating and set a $25.00 price objective on shares of Warby Parker in a research report on Tuesday, February 28th. Cowen lowered their price objective on shares of Warby Parker from $23.00 to $17.00 in a research report on Wednesday, March 1st. Finally, Citigroup downgraded shares of Warby Parker from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $26.00 to $13.00 in a research report on Wednesday, March 1st. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.82.

Warby Parker Stock Down 0.7 %

Shares of NYSE:WRBY opened at $11.20 on Wednesday. Warby Parker has a 12-month low of $9.50 and a 12-month high of $18.99. The stock has a market cap of $1.08 billion, a PE ratio of -14.74 and a beta of 1.88. The business has a 50 day moving average of $10.95 and a 200-day moving average of $13.56.

Warby Parker (NYSE:WRBY – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.06). The company had revenue of $146.49 million during the quarter, compared to the consensus estimate of $143.18 million. Warby Parker had a negative net margin of 14.11% and a negative return on equity of 25.89%. Equities research analysts expect that Warby Parker will post -0.29 earnings per share for the current year.

Insider Activity at Warby Parker

In other news, Director Teresa Briggs sold 18,900 shares of Warby Parker stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $12.05, for a total value of $227,745.00. Following the completion of the transaction, the director now directly owns 19,246 shares of the company’s stock, valued at approximately $231,914.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 25.36% of the stock is currently owned by company insiders.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arizona State Retirement System lifted its holdings in Warby Parker by 4.4% during the fourth quarter. Arizona State Retirement System now owns 18,918 shares of the company’s stock valued at $255,000 after purchasing an additional 791 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Warby Parker by 1.4% in the third quarter. New York State Common Retirement Fund now owns 58,700 shares of the company’s stock worth $783,000 after purchasing an additional 800 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Warby Parker by 11.6% during the third quarter. Tower Research Capital LLC TRC now owns 11,493 shares of the company’s stock valued at $154,000 after acquiring an additional 1,191 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Warby Parker by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 51,149 shares of the company’s stock valued at $1,730,000 after acquiring an additional 1,251 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Warby Parker by 9.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 15,865 shares of the company’s stock valued at $168,000 after acquiring an additional 1,304 shares during the last quarter.

About Warby Parker

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Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.