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

Warby Parker Inc. (NYSE:WRBY) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $27.3846.

A number of research firms have weighed in on WRBY. The Goldman Sachs Group boosted their target price 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. Telsey Advisory Group restated an “outperform” rating and issued a $32.00 price target on shares of Warby Parker in a report on Wednesday, December 17th. Stifel Nicolaus increased their target price on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a report on Friday, December 12th. Citigroup raised Warby Parker from a “hold” rating to an “outperform” rating in a report on Wednesday, December 10th. Finally, UBS Group lowered their target price on shares of Warby Parker from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, November 7th.

Insider Transactions at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $27.08, for a total value of $1,354,000.00. Following the completion of the transaction, the chief executive officer directly owned 37,119 shares of the company’s stock, valued at $1,005,182.52. This trade represents a 57.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joel E. Cutler sold 19,932 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $26.01, for a total transaction of $518,431.32. Following the completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $520,200. This represents a 49.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 359,424 shares of company stock valued at $9,813,571. 18.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WRBY. AQR Capital Management LLC boosted its stake in Warby Parker by 101.0% during the 1st quarter. AQR Capital Management LLC now owns 171,271 shares of the company’s stock valued at $3,122,000 after purchasing an additional 86,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Warby Parker by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,690 shares of the company’s stock worth $961,000 after buying an additional 2,297 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Warby Parker by 96.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,888,817 shares of the company’s stock worth $34,433,000 after purchasing an additional 929,073 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of Warby Parker during the first quarter valued at approximately $252,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Warby Parker by 17.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 257,020 shares of the company’s stock worth $4,685,000 after purchasing an additional 38,395 shares in the last quarter. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Up 3.8%

WRBY opened at $27.38 on Thursday. The business has a 50 day moving average of $24.05 and a 200-day moving average of $24.00. Warby Parker has a 12-month low of $13.63 and a 12-month high of $31.00. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of 2,738.40 and a beta of 2.05.

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

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.