Analysts Set Warby Parker Inc. (NYSE:WRBY) PT at $27.38

Warby Parker Inc. (NYSE:WRBY) has been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $27.3846.

Several equities research analysts have commented on WRBY shares. Stifel Nicolaus boosted their price target on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $32.00 target price on shares of Warby Parker in a report on Wednesday, December 17th. Citigroup raised shares of Warby Parker from a “hold” rating to an “outperform” rating in a research note on Wednesday, December 10th. BTIG Research raised their target price on shares of Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, The Goldman Sachs Group upped their price target on Warby Parker from $27.00 to $31.00 and gave the company a “buy” rating in a report on Monday, October 6th.

Insider Transactions at Warby Parker

In other news, Director Youngme E. Moon sold 38,832 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $29.07, for a total transaction of $1,128,846.24. Following the completion of the sale, the director directly owned 27,057 shares of the company’s stock, valued at $786,546.99. This represents a 58.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joel E. Cutler sold 19,932 shares of Warby Parker stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total value of $518,431.32. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at $520,200. This represents a 49.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 359,424 shares of company stock valued at $9,813,571 over the last three months. Company insiders own 18.24% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in Warby Parker during the 4th quarter worth approximately $411,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Warby Parker by 8.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,744 shares of the company’s stock valued at $692,000 after purchasing an additional 2,400 shares in the last quarter. First Horizon Corp boosted its position in shares of Warby Parker by 96.7% in the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock worth $26,000 after buying an additional 595 shares during the period. PFG Investments LLC purchased a new position in shares of Warby Parker during the fourth quarter valued at $201,000. Finally, Farther Finance Advisors LLC raised its position in Warby Parker by 41.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after buying an additional 494 shares during the period. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Price Performance

WRBY opened at $25.34 on Thursday. The business has a 50 day moving average price of $24.41 and a two-hundred day moving average price of $24.04. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 2,533.50 and a beta of 2.05. Warby Parker has a 1-year low of $13.63 and a 1-year high of $31.00.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $221.68 million during the quarter, compared to the consensus estimate of $224.49 million. Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) EPS. Equities analysts expect 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.