Warby Parker (NYSE:WRBY) Price Target Lowered to $20.00 at UBS Group

Warby Parker (NYSE:WRBY) had its price objective lowered by UBS Group from $23.00 to $20.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. Evercore ISI reiterated a “positive” rating on shares of Warby Parker in a research report on Thursday, August 7th. The Goldman Sachs Group lifted their price target on shares of Warby Parker from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, October 6th. Roth Capital set a $24.00 price objective on shares of Warby Parker and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Stifel Nicolaus raised their target price on shares of Warby Parker from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, August 8th. Finally, Zacks Research upgraded Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.53.

Warby Parker Stock Up 1.3%

Shares of Warby Parker stock traded up $0.22 during trading on Friday, hitting $17.15. 4,861,594 shares of the company were exchanged, compared to its average volume of 2,349,684. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $29.73. The firm has a 50 day moving average price of $24.19 and a 200 day moving average price of $22.56. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 1,714.50 and a beta of 2.06.

Warby Parker (NYSE:WRBY) last announced its earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Warby Parker had a net margin of 0.08% and a return on equity of 1.98%. The company had revenue of $221.68 million for the quarter, compared to analyst estimates of $224.49 million. During the same quarter last year, the company posted ($0.03) EPS. Warby Parker’s quarterly revenue was up 15.2% compared to the same quarter last year. Warby Parker has set its FY 2025 guidance at EPS. Analysts predict that Warby Parker will post -0.12 earnings per share for the current year.

Insider Activity at Warby Parker

In related news, Director Teresa Briggs sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the sale, the director directly owned 44,879 shares in the company, valued at approximately $1,057,349.24. This trade represents a 11.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joel E. Cutler sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the transaction, the director owned 19,932 shares of the company’s stock, valued at approximately $533,181. This represents a 63.72% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 141,000 shares of company stock worth $3,709,521. 18.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

Several institutional investors have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Warby Parker in the first quarter worth $2,029,000. New York State Teachers Retirement System bought a new position in Warby Parker in the 1st quarter valued at about $27,000. Kings Path Partners LLC acquired a new position in Warby Parker during the 2nd quarter valued at about $300,000. Jennison Associates LLC raised its position in shares of Warby Parker by 23.7% during the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company’s stock worth $39,635,000 after buying an additional 416,797 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Warby Parker in the 1st quarter worth approximately $656,000. 93.24% of the stock is owned by institutional investors.

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.