Brokerages Set Warby Parker Inc. (NYSE:WRBY) Price Target at $17.11

Warby Parker Inc. (NYSE:WRBY) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $17.11.

WRBY has been the subject of a number of recent research reports. 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 research note on Friday, August 23rd. Telsey Advisory Group restated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Thursday, August 8th. Loop Capital raised their target price on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler began coverage on Warby Parker in a research report on Friday, August 23rd. They set an “overweight” rating and a $18.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a research report on Friday, August 9th.

Insider Transactions at Warby Parker

In other news, CFO Steven Clive Miller sold 15,272 shares of Warby Parker stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $198,536.00. Following the sale, the chief financial officer now owns 184,251 shares of the company’s stock, valued at approximately $2,395,263. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the sale, the chief executive officer now owns 12,177 shares of the company’s stock, valued at $158,301. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 15,272 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now directly owns 184,251 shares in the company, valued at approximately $2,395,263. The disclosure for this sale can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 in the last ninety days. Insiders own 26.55% of the company’s stock.

Institutional Trading of Warby Parker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Warby Parker by 2.6% in the first quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock valued at $118,095,000 after purchasing an additional 219,120 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of 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 acquiring an additional 1,315,672 shares during the period. TimesSquare Capital Management LLC increased its position in shares of Warby Parker by 149.4% during the first 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 during the period. Renaissance Technologies LLC increased its position in shares of Warby Parker by 44.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock worth $25,192,000 after acquiring an additional 481,900 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Warby Parker by 1,013.4% during the second 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. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Performance

NYSE WRBY opened at $14.65 on Monday. The stock has a 50-day simple moving average of $14.95 and a two-hundred day simple moving average of $14.54. The firm has a market capitalization of $1.45 billion, a P/E ratio of -31.17 and a beta of 1.80. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $17.95.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $188.22 million during the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. As a group, analysts forecast that Warby Parker will post -0.04 earnings per share for the current 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.