Warby Parker (NYSE:WRBY) Stock Price Expected to Rise, JMP Securities Analyst Says

Warby Parker (NYSE:WRBY) had its target price increased by research analysts at JMP Securities from $23.00 to $28.00 in a report issued on Monday,Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 18.49% from the stock’s current price.

WRBY has been the topic of a number of other reports. Stifel Nicolaus boosted their price target on shares of Warby Parker from $17.00 to $20.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Robert W. Baird lifted their price objective on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Piper Sandler increased their target price on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and raised their price target for the company from $15.00 to $18.00 in a report on Monday, October 21st. Finally, Telsey Advisory Group upped their price objective on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.73.

Warby Parker Trading Down 0.8 %

Shares of NYSE:WRBY opened at $23.63 on Monday. The firm has a 50 day simple moving average of $19.96 and a 200-day simple moving average of $17.01. The company has a market capitalization of $2.40 billion, a PE ratio of -87.52 and a beta of 1.93. Warby Parker has a twelve month low of $11.35 and a twelve month high of $24.71.

Insiders Place Their Bets

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.65, for a total transaction of $1,182,500.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $287,986.05. The trade was a 80.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven Clive Miller sold 7,016 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total value of $167,331.60. Following the transaction, the chief financial officer now owns 182,130 shares in the company, valued at approximately $4,343,800.50. This represents a 3.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 108,032 shares of company stock valued at $2,503,303 over the last quarter. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blueshift Asset Management LLC acquired a new position in shares of Warby Parker in the 3rd quarter valued at approximately $1,223,000. Maverick Capital Ltd. acquired a new position in Warby Parker during the 2nd quarter worth $1,465,000. Driehaus Capital Management LLC increased its position in shares of Warby Parker by 43.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 806,501 shares of the company’s stock worth $12,952,000 after purchasing an additional 246,011 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Warby Parker by 3.2% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after purchasing an additional 78,295 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in shares of Warby Parker by 12.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after purchasing an additional 211,050 shares during the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

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.