Warby Parker Inc. (NYSE:WRBY) Stock Has Consensus Target Price of $30.08 According to Analysts

Warby Parker Inc. (NYSE:WRBY) has earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $30.08.

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $29.00 price target on shares of Warby Parker in a research note on Thursday, September 17th. UBS Group increased their price objective on Warby Parker from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Citigroup restated a “market outperform” rating on shares of Warby Parker in a research report on Thursday, September 17th. BTIG Research restated a “buy” rating on shares of Warby Parker in a research report on Friday, August 14th. Finally, Citizens Jmp cut their target price on Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a research note on Friday, August 7th.

Warby Parker Stock Performance

Warby Parker stock opened at $27.48 on Tuesday. Warby Parker has a one year low of $14.96 and a one year high of $31.00. The company has a 50-day simple moving average of $25.61 and a 200-day simple moving average of $25.21. The firm has a market capitalization of $2.97 billion, a P/E ratio of 392.56, a P/E/G ratio of 7.53 and a beta of 1.89.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.06). Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. The firm had revenue of $235.51 million during the quarter, compared to the consensus estimate of $237.98 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Warby Parker will post 0.14 earnings per share for the current year.

Insider Activity

In other news, CEO Neil Blumenthal sold 9,200 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $29.99, for a total transaction of $275,908.00. Following the transaction, the chief executive officer directly owned 31,112 shares of the company’s stock, valued at approximately $933,048.88. This trade represents a 22.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Several institutional investors have recently bought and sold shares of WRBY. Ranger Investment Management L.P. acquired a new position in shares of Warby Parker in the 2nd quarter worth approximately $30,949,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Warby Parker by 31.3% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,028,307 shares of the company’s stock worth $63,806,000 after purchasing an additional 722,627 shares in the last quarter. Atreides Management LP acquired a new stake in Warby Parker during the fourth quarter valued at approximately $8,565,000. Senator Investment Group LP acquired a new stake in Warby Parker during the fourth quarter valued at approximately $8,218,000. Finally, Bank of America Corp DE boosted its holdings in Warby Parker by 30.9% during the first quarter. Bank of America Corp DE now owns 1,377,646 shares of the company’s stock worth $29,027,000 after buying an additional 325,250 shares in the last quarter. Institutional investors and hedge funds own 93.24% of the company’s stock.

Warby Parker Company Profile

Warby Parker Inc is an omnichannel eyewear company that designs, produces, and sells prescription eyeglasses, sunglasses, contact lenses, and related vision-care products. The company serves customers through its e-commerce platform, retail stores, and other direct-to-consumer channels, offering products under its Warby Parker brand.

Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt, and Jeffrey Raider, Warby Parker began as an online eyewear retailer and later expanded its physical retail presence.