Analysts Set Warby Parker Inc. (NYSE:WRBY) Price Target at $27.38

Warby Parker Inc. (NYSE:WRBY) has been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $27.3846.

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. Weiss Ratings restated a “hold (c-)” rating on shares of Warby Parker in a report on Monday, December 29th. Citizens Jmp raised Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Wednesday, December 10th. Telsey Advisory Group reiterated an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a report on Wednesday, December 17th. Finally, BTIG Research upped their price objective on Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th.

Warby Parker Trading Down 1.5%

Shares of WRBY stock opened at $26.36 on Thursday. Warby Parker has a twelve month low of $13.63 and a twelve month high of $31.00. The stock has a fifty day simple moving average of $23.83 and a two-hundred day simple moving average of $23.95. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 2,635.70 and a beta of 2.05.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The firm had revenue of $221.68 million during the quarter, compared to the consensus estimate of $224.49 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year. Research analysts predict that Warby Parker will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling at Warby Parker

In other news, Director Youngme E. Moon sold 38,832 shares of the firm’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $29.07, for a total value of $1,128,846.24. Following the sale, the director directly owned 27,057 shares in the company, valued at approximately $786,546.99. This trade represents a 58.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $27.08, for a total transaction of $1,354,000.00. Following the transaction, the chief executive officer owned 37,119 shares of the company’s stock, valued at approximately $1,005,182.52. This trade represents a 57.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 359,424 shares of company stock valued at $9,813,571. 18.24% of the stock is currently owned by insiders.

Institutional Trading of Warby Parker

Several hedge funds and other institutional investors have recently made changes to their positions in WRBY. Vanguard Group Inc. grew its stake in Warby Parker by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 10,665,529 shares of the company’s stock worth $294,155,000 after buying an additional 327,830 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Warby Parker by 40.9% in the third quarter. JPMorgan Chase & Co. now owns 7,303,341 shares of the company’s stock worth $201,426,000 after acquiring an additional 2,120,768 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Warby Parker by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 2,605,250 shares of the company’s stock worth $57,133,000 after acquiring an additional 884,035 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Warby Parker by 9.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,421,950 shares of the company’s stock valued at $66,797,000 after acquiring an additional 205,630 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Warby Parker by 7.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,201,817 shares of the company’s stock valued at $48,292,000 after purchasing an additional 148,847 shares during the last quarter. Hedge funds and other institutional investors own 93.24% of the company’s stock.

About Warby Parker

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.