Brokerages Set Warby Parker Inc. (NYSE:WRBY) Target Price at $26.75

Shares of Warby Parker Inc. (NYSE:WRBY) have been given an average recommendation of “Moderate Buy” by the nineteen analysts that are covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $26.75.

A number of equities analysts have commented on WRBY shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Warby Parker in a report on Monday. BTIG Research boosted their price target on Warby Parker from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Citigroup upgraded Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Stifel Nicolaus upped their target price on shares of Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, December 12th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $32.00 target price on shares of Warby Parker in a research report on Wednesday, December 17th.

Warby Parker Stock Performance

Warby Parker stock opened at $21.98 on Friday. The stock has a market capitalization of $2.32 billion, a P/E ratio of 2,198.20 and a beta of 2.06. The company’s fifty day moving average price is $21.25 and its 200 day moving average price is $23.39. Warby Parker has a 1 year low of $13.63 and a 1 year high of $31.00.

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

Insider Buying and Selling at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $30.29, for a total value of $3,029,000.00. Following the transaction, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at $1,124,334.51. This trade represents a 72.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joel E. Cutler sold 19,932 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total value of $518,431.32. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at $520,200. This trade represents a 49.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 158,764 shares of company stock worth $4,676,278. Insiders own 18.24% of the company’s stock.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. purchased a new stake in shares of Warby Parker in the 2nd quarter valued at approximately $1,219,000. Kings Path Partners LLC acquired a new stake in Warby Parker in the 2nd quarter valued at approximately $300,000. Dynamic Technology Lab Private Ltd purchased a new stake in Warby Parker in the first quarter valued at approximately $656,000. Ieq Capital LLC lifted its stake in Warby Parker by 113.4% during the first quarter. Ieq Capital LLC now owns 29,643 shares of the company’s stock worth $540,000 after purchasing an additional 15,749 shares in the last quarter. Finally, Ranger Investment Management L.P. purchased a new position in shares of Warby Parker during the second quarter worth $22,198,000. 93.24% of the stock is owned by institutional investors and hedge funds.

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.