Warby Parker Inc. (NYSE:WRBY) Receives $29.50 Consensus PT from Analysts

Warby Parker Inc. (NYSE:WRBY) has been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are presently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $29.50.

A number of research analysts have weighed in on WRBY shares. UBS Group boosted their target price on shares of Warby Parker from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. BTIG Research boosted their target price on shares of Warby Parker from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings raised shares of Warby Parker from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research report on Tuesday, May 19th. Finally, Telsey Advisory Group boosted their target price on shares of Warby Parker from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th.

Insiders Place Their Bets

In other Warby Parker news, Director Bradley E. Singer sold 20,167 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $28.51, for a total transaction of $574,961.17. Following the completion of the transaction, the director owned 104,833 shares of the company’s stock, valued at $2,988,788.83. The trade was a 16.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Harris Blumenthal sold 75,213 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $24.56, for a total transaction of $1,847,231.28. Following the completion of the sale, the chief executive officer owned 50,165 shares of the company’s stock, valued at approximately $1,232,052.40. The trade was a 59.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 203,833 shares of company stock valued at $5,509,808. Company insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Institutional investors have recently added to or reduced their stakes in the company. Man Group plc grew its stake in shares of Warby Parker by 1.6% during the second quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after purchasing an additional 400 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in Warby Parker by 41.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock valued at $37,000 after acquiring an additional 494 shares during the last quarter. First Horizon Corp boosted its stake in Warby Parker by 96.7% in the fourth quarter. First Horizon Corp now owns 1,210 shares of the company’s stock valued at $26,000 after acquiring an additional 595 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Warby Parker by 105.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after acquiring an additional 673 shares during the last quarter. Finally, Choreo LLC boosted its stake in Warby Parker by 4.6% in the third quarter. Choreo LLC now owns 16,605 shares of the company’s stock valued at $458,000 after acquiring an additional 728 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

Warby Parker Trading Down 4.5%

WRBY stock opened at $24.55 on Wednesday. Warby Parker has a 1 year low of $14.96 and a 1 year high of $31.00. The company has a fifty day simple moving average of $23.84 and a 200 day simple moving average of $23.78. The firm has a market cap of $2.63 billion, a PE ratio of 1,228.11 and a beta of 1.95.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, May 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The firm had revenue of $242.45 million for the quarter, compared to analyst estimates of $239.44 million. Warby Parker had a return on equity of 2.30% and a net margin of 0.15%.The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.03 EPS. As a group, analysts forecast that Warby Parker will post 0.19 EPS for the current fiscal year.

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.