Warby Parker Inc. (NYSE:WRBY) Receives $29.50 Consensus Target Price from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $29.50.

WRBY has been the topic of several analyst reports. BTIG Research raised their target price on Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Warby Parker in a report on Tuesday, May 19th. Weiss Ratings raised Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, May 11th. Telsey Advisory Group raised their target price on Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Warby Parker in a report on Friday, May 22nd.

Warby Parker Stock Up 1.8%

Shares of NYSE:WRBY opened at $27.34 on Friday. Warby Parker has a 52-week low of $14.96 and a 52-week high of $31.00. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 1,367.43 and a beta of 1.96. The business has a 50-day moving average price of $25.19 and a 200-day moving average price of $24.77.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.08). The firm had revenue of $242.45 million during the quarter, compared to analysts’ expectations of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 earnings per share. As a group, equities analysts anticipate that Warby Parker will post 0.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Warby Parker news, Director Teresa Briggs sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $25.94, for a total value of $129,700.00. Following the sale, the director directly owned 48,883 shares of the company’s stock, valued at approximately $1,268,025.02. This trade represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Singer sold 4,833 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $29.01, for a total value of $140,205.33. Following the completion of the sale, the director directly owned 100,000 shares in the company, valued at approximately $2,901,000. The trade was a 4.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 203,040 shares of company stock valued at $5,470,026 in the last three months. 16.80% of the stock is currently owned by insiders.

Institutional Trading of Warby Parker

Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC boosted its stake in shares of Warby Parker by 101.0% in the first quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock worth $3,122,000 after acquiring an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Warby Parker by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after acquiring an additional 2,297 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Warby Parker by 96.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after acquiring an additional 929,073 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Warby Parker in the first quarter worth approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Warby Parker by 17.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock worth $4,685,000 after acquiring an additional 38,395 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.