Warby Parker Inc. (NYSE:WRBY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Warby Parker Inc. (NYSE:WRBYGet Free Report) have been given a consensus rating of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $30.1818.

A number of research analysts have issued reports on WRBY shares. Piper Sandler reissued an “overweight” rating on shares of Warby Parker in a research note on Tuesday, May 19th. Citizens Jmp dropped their price target on Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Friday, August 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a report on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of Warby Parker in a research report on Friday, May 22nd. Finally, UBS Group increased their target price on Warby Parker from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th.

Get Our Latest Stock Report on Warby Parker

Insider Buying and Selling at Warby Parker

In other news, Director Teresa Briggs sold 5,000 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $25.94, for a total transaction of $129,700.00. Following the completion of the sale, the director owned 48,883 shares of the company’s stock, valued at $1,268,025.02. This represents a 9.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the chief executive officer owned 31,112 shares in the company, valued at approximately $933,048.88. The trade was a 22.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 268,167 shares of company stock valued at $7,941,180 in the last three months. 16.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Warby Parker

A number of large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Warby Parker by 105.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,310 shares of the company’s stock valued at $28,000 after purchasing an additional 673 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Warby Parker by 41.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,687 shares of the company’s stock worth $37,000 after buying an additional 494 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Warby Parker by 110.7% during the first quarter. Parallel Advisors LLC now owns 1,837 shares of the company’s stock worth $39,000 after buying an additional 965 shares in the last quarter. Essential Partners LLC raised its position in Warby Parker by 44.2% in the 1st quarter. Essential Partners LLC now owns 2,570 shares of the company’s stock valued at $54,000 after buying an additional 788 shares during the last quarter. Finally, Covestor Ltd raised its position in Warby Parker by 5,795.3% in the 4th quarter. Covestor Ltd now owns 2,535 shares of the company’s stock valued at $55,000 after buying an additional 2,492 shares during the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Down 1.0%

Shares of NYSE WRBY opened at $24.34 on Friday. The company’s fifty day moving average is $26.26 and its 200-day moving average is $25.20. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 347.66, a P/E/G ratio of 6.66 and a beta of 1.91. Warby Parker has a twelve month low of $14.96 and a twelve month high of $31.00.

Warby Parker (NYSE:WRBYGet Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). The firm had revenue of $235.51 million during the quarter, compared to the consensus estimate of $237.98 million. Warby Parker had a net margin of 0.85% and a return on equity of 3.36%. Warby Parker’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) EPS. On average, research analysts anticipate that Warby Parker will post 0.14 EPS for the current fiscal year.

About Warby Parker

(Get Free Report)

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.

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Analyst Recommendations for Warby Parker (NYSE:WRBY)

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