Warby Parker (NYSE:WRBY) Price Target Raised to $20.00

Warby Parker (NYSE:WRBY) had its price objective boosted by BTIG Research from $18.00 to $20.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also weighed in on the company. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a report on Friday, August 23rd. The Goldman Sachs Group upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Telsey Advisory Group reiterated an “outperform” rating and set a $19.00 price target on shares of Warby Parker in a research note on Thursday. Stifel Nicolaus upped their price objective on shares of Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and raised their target price for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.30.

Warby Parker Stock Performance

Shares of WRBY stock opened at $17.45 on Friday. The stock has a 50 day moving average price of $15.57 and a 200 day moving average price of $15.34. Warby Parker has a 52-week low of $9.83 and a 52-week high of $18.37. The firm has a market capitalization of $1.76 billion, a P/E ratio of -44.74 and a beta of 1.80.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. As a group, sell-side analysts forecast that Warby Parker will post -0.04 EPS for the current year.

Insider Activity

In other news, Director Bradley E. Singer purchased 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the completion of the transaction, the director now owns 100,000 shares of the company’s stock, valued at $1,300,000. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Warby Parker news, CEO Neil Harris Blumenthal sold 27,143 shares of Warby Parker stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $352,859.00. Following the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $158,301. The trade was a 0.00 % 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. Also, Director Bradley E. Singer purchased 50,000 shares of Warby Parker stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $13.00 per share, for a total transaction of $650,000.00. Following the transaction, the director now owns 100,000 shares in the company, valued at approximately $1,300,000. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 99,178 shares of company stock worth $1,339,901 over the last 90 days. 26.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Warby Parker

Large investors have recently modified their holdings of the business. Jacobson & Schmitt Advisors LLC lifted its stake in Warby Parker by 0.3% during the 1st quarter. Jacobson & Schmitt Advisors LLC now owns 408,105 shares of the company’s stock worth $5,554,000 after acquiring an additional 1,397 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Warby Parker by 10.2% in the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock valued at $211,000 after buying an additional 1,434 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Warby Parker by 3.4% in the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock valued at $782,000 after acquiring an additional 1,556 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Warby Parker by 79.9% during the 1st quarter. Advisors Asset Management Inc. now owns 5,125 shares of the company’s stock worth $70,000 after buying an additional 2,276 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Warby Parker by 11.5% during the second quarter. Hsbc Holdings PLC now owns 25,696 shares of the company’s stock worth $413,000 after acquiring an additional 2,651 shares during the last quarter. Institutional investors and hedge funds 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.