Warby Parker Inc. (NYSE:WRBY) Receives $16.75 Consensus Price Target from Brokerages

Warby Parker Inc. (NYSE:WRBY) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $16.75.

A number of research analysts have recently commented on the company. Stifel Nicolaus upped their price target on Warby Parker from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday, August 9th. Loop Capital upped their price target on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Telsey Advisory Group restated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a report on Thursday, August 8th. Piper Sandler assumed coverage on Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 price target on the stock. Finally, JMP Securities raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Friday, August 23rd.

Insider Buying and Selling

In related news, Director Bradley E. Singer purchased 50,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at $1,300,000. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Warby Parker news, CFO Steven Clive Miller sold 15,272 shares of Warby Parker stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the transaction, the chief financial officer now directly owns 184,251 shares of the company’s stock, valued at $2,395,263. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bradley E. Singer purchased 50,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was acquired at an average price of $13.00 per share, for a total transaction of $650,000.00. Following the purchase, the director now owns 100,000 shares in the company, valued at approximately $1,300,000. The trade was a 100.00 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 99,178 shares of company stock worth $1,339,901. 26.55% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in WRBY. Algert Global LLC raised its stake in Warby Parker by 81.8% during the 2nd quarter. Algert Global LLC now owns 40,346 shares of the company’s stock worth $648,000 after buying an additional 18,154 shares during the period. Driehaus Capital Management LLC grew its position in shares of Warby Parker by 43.9% in the second quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock valued at $12,952,000 after purchasing an additional 246,011 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Warby Parker by 7.2% during the second quarter. The Manufacturers Life Insurance Company now owns 44,667 shares of the company’s stock valued at $717,000 after buying an additional 3,007 shares during the period. Millennium Management LLC lifted its stake in Warby Parker by 26.6% during the second quarter. Millennium Management LLC now owns 299,151 shares of the company’s stock worth $4,804,000 after purchasing an additional 62,865 shares during the last quarter. Finally, Maverick Capital Ltd. bought a new stake in shares of Warby Parker in the 2nd quarter valued at about $1,465,000. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Stock Down 0.5 %

Shares of NYSE WRBY opened at $16.33 on Friday. The firm’s 50-day simple moving average is $14.71 and its 200 day simple moving average is $14.93. Warby Parker has a fifty-two week low of $9.83 and a fifty-two week high of $17.95. The stock has a market cap of $1.64 billion, a P/E ratio of -34.74 and a beta of 1.82.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. The company had revenue of $188.22 million for the quarter, compared to analysts’ expectations of $186.89 million. On average, sell-side analysts anticipate that Warby Parker will post -0.04 earnings per share for the current fiscal 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.