Telsey Advisory Group Cuts Warby Parker (NYSE:WRBY) Price Target to $24.00

Warby Parker (NYSE:WRBY) had its target price lowered by Telsey Advisory Group from $28.00 to $24.00 in a research note published on Friday, Marketbeat.com reports. Telsey Advisory Group currently has an outperform rating on the stock.

Several other research analysts have also recently issued reports on the company. Robert W. Baird set a $30.00 price objective on Warby Parker and gave the stock an “outperform” rating in a research note on Wednesday, July 30th. JMP Securities reiterated a “market perform” rating on shares of Warby Parker in a report on Thursday, July 10th. Cowen reissued a “buy” rating on shares of Warby Parker in a research report on Friday, August 8th. Wall Street Zen downgraded shares of Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Zacks Research raised shares of Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.53.

Warby Parker Trading Down 0.2%

Shares of Warby Parker stock opened at $17.18 on Friday. Warby Parker has a 12-month low of $13.63 and a 12-month high of $29.73. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 1,687.80 and a beta of 2.06. The firm’s 50 day simple moving average is $24.19 and its two-hundred day simple moving average is $22.67.

Warby Parker (NYSE:WRBY) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). Warby Parker had a return on equity of 1.96% and a net margin of 0.08%.The company had revenue of $221.68 million for the quarter, compared to analyst estimates of $224.49 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Warby Parker has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Warby Parker will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, Director Joel E. Cutler sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $26.75, for a total value of $936,250.00. Following the transaction, the director directly owned 19,932 shares of the company’s stock, valued at $533,181. This trade represents a 63.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 8,416 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.52, for a total value of $231,608.32. Following the completion of the sale, the chief executive officer owned 32,733 shares of the company’s stock, valued at $900,812.16. This trade represents a 20.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 135,000 shares of company stock valued at $3,568,161 in the last ninety days. Insiders own 18.24% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System purchased a new stake in shares of Warby Parker in the 1st quarter valued at approximately $27,000. Teacher Retirement System of Texas purchased a new stake in Warby Parker in the first quarter valued at approximately $230,000. Bank of New York Mellon Corp lifted its stake in Warby Parker by 5.4% during the first quarter. Bank of New York Mellon Corp now owns 1,721,215 shares of the company’s stock worth $31,378,000 after purchasing an additional 88,874 shares in the last quarter. CWM LLC lifted its stake in Warby Parker by 231.9% during the first quarter. CWM LLC now owns 5,855 shares of the company’s stock worth $107,000 after purchasing an additional 4,091 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of Warby Parker by 6,931.8% during the first quarter. Victory Capital Management Inc. now owns 770,054 shares of the company’s stock worth $14,038,000 after buying an additional 759,103 shares during the period. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Company Profile

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.