Warby Parker (NYSE:WRBY) Given New $25.00 Price Target at BTIG Research

Warby Parker (NYSE:WRBY) had its target price lowered by BTIG Research from $28.00 to $25.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Warby Parker in a research note on Friday, August 8th. Stifel Nicolaus boosted their price objective on Warby Parker from $21.00 to $22.00 and gave the company a “hold” rating in a report on Friday, August 8th. Roth Capital set a $24.00 target price on Warby Parker and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Wall Street Zen downgraded shares of Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Finally, The Goldman Sachs Group upped their price objective 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. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Warby Parker presently has a consensus rating of “Hold” and a consensus target price of $24.53.

Warby Parker Price Performance

Shares of NYSE:WRBY traded up $0.22 during mid-day trading on Thursday, hitting $17.15. The company had a trading volume of 4,861,594 shares, compared to its average volume of 2,141,770. Warby Parker has a one year low of $13.63 and a one year high of $29.73. The firm has a fifty day moving average price of $24.37 and a 200 day moving average price of $22.54. The company has a market capitalization of $1.80 billion, a PE ratio of -244.89 and a beta of 2.06.

Warby Parker (NYSE:WRBY) last posted its quarterly 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 negative return on equity of 0.79% and a negative net margin of 1.12%.The company had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. During the same quarter in the previous year, the business posted ($0.03) earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Warby Parker has set its FY 2025 guidance at EPS. Research analysts expect that Warby Parker will post -0.12 earnings per share for the current fiscal year.

Insider Transactions at Warby Parker

In other Warby Parker news, Director Joel E. Cutler sold 35,000 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the sale, the director directly owned 19,932 shares of the company’s stock, valued at approximately $533,181. This represents a 63.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 8,416 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.52, for a total value of $231,608.32. Following the completion of the transaction, the chief executive officer owned 32,733 shares in the company, valued at $900,812.16. The trade was a 20.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 141,000 shares of company stock worth $3,709,521 in the last quarter. 18.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

Several large investors have recently added to or reduced their stakes in WRBY. Man Group plc grew its position in Warby Parker by 1.6% during the second quarter. Man Group plc now owns 25,095 shares of the company’s stock worth $550,000 after buying an additional 400 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Warby Parker by 8.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,034 shares of the company’s stock valued at $220,000 after acquiring an additional 769 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of Warby Parker by 10.1% during the third quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock worth $246,000 after purchasing an additional 816 shares in the last quarter. Rafferty Asset Management LLC increased its position in shares of Warby Parker by 5.4% in the second quarter. Rafferty Asset Management LLC now owns 15,899 shares of the company’s stock worth $349,000 after purchasing an additional 819 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Warby Parker by 259.3% in the third quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after purchasing an additional 861 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 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.