Warby Parker Inc. (NYSE:WRBY) Receives $21.77 Consensus Target Price from Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $21.77.

A number of research firms recently commented on WRBY. Telsey Advisory Group lifted their target price on shares of Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Citigroup reiterated a “sell” rating and set a $23.00 price objective (up from $19.00) on shares of Warby Parker in a research note on Wednesday, February 5th. Evercore ISI reissued an “in-line” rating and issued a $23.00 target price on shares of Warby Parker in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upgraded Warby Parker from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, Stifel Nicolaus boosted their price target on Warby Parker from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Wednesday, December 11th.

Warby Parker Stock Performance

Shares of NYSE WRBY opened at $26.64 on Thursday. Warby Parker has a fifty-two week low of $11.35 and a fifty-two week high of $28.68. The company has a market cap of $2.71 billion, a PE ratio of -98.68 and a beta of 1.90. The business has a 50-day simple moving average of $25.30 and a two-hundred day simple moving average of $19.74.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $27.61, for a total transaction of $1,380,500.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $336,206.97. This trade represents a 80.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Clive Miller sold 14,853 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total transaction of $335,826.33. Following the completion of the transaction, the chief financial officer now owns 189,146 shares of the company’s stock, valued at approximately $4,276,591.06. This trade represents a 7.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 608,032 shares of company stock valued at $15,188,364 over the last ninety days. Company insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

A number of hedge funds have recently bought and sold shares of WRBY. Global Retirement Partners LLC acquired a new position in shares of Warby Parker during the 4th quarter worth approximately $25,000. Jones Financial Companies Lllp increased its holdings in Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock worth $37,000 after acquiring an additional 1,028 shares in the last quarter. KBC Group NV raised its position in Warby Parker by 39.3% during the fourth quarter. KBC Group NV now owns 4,743 shares of the company’s stock worth $115,000 after acquiring an additional 1,339 shares during the period. AQR Capital Management LLC purchased a new position in Warby Parker during the second quarter valued at $186,000. Finally, Cibc World Markets Corp acquired a new stake in shares of Warby Parker in the fourth quarter valued at about $201,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About Warby Parker

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.