Stifel Nicolaus Forecasts Strong Price Appreciation for Warby Parker (NYSE:WRBY) Stock

Warby Parker (NYSE:WRBY) had its price objective upped by research analysts at Stifel Nicolaus from $17.00 to $20.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential downside of 16.07% from the company’s previous close.

Several other research analysts have also issued reports on the company. Telsey Advisory Group increased their target price on Warby Parker from $22.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Piper Sandler increased their target price on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and increased their target price for the stock from $15.00 to $18.00 in a research report on Monday, October 21st. William Blair raised Warby Parker from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird raised their price objective on Warby Parker from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Warby Parker Stock Up 1.3 %

Shares of NYSE:WRBY traded up $0.30 during trading on Wednesday, hitting $23.83. The stock had a trading volume of 211,341 shares, compared to its average volume of 1,429,577. Warby Parker has a 12 month low of $10.80 and a 12 month high of $24.60. The company has a market capitalization of $2.42 billion, a PE ratio of -88.70 and a beta of 1.93. The firm’s fifty day moving average is $19.47 and its 200 day moving average is $16.87.

Insiders Place Their Bets

In other news, CEO Neil Harris Blumenthal sold 36,163 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $22.61, for a total value of $817,645.43. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at $275,321.97. This trade represents a 74.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Steven Clive Miller sold 14,853 shares of Warby Parker stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $22.61, for a total value of $335,826.33. Following the transaction, the chief financial officer now owns 189,146 shares in the company, valued at $4,276,591.06. This trade represents a 7.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.55% of the company’s stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors and hedge funds have recently bought and sold shares of WRBY. First Eagle Investment Management LLC purchased a new position in Warby Parker during the second quarter valued at $131,000. Choreo LLC bought a new stake in Warby Parker during the second quarter valued at about $167,000. AQR Capital Management LLC bought a new stake in Warby Parker during the second quarter valued at about $186,000. Thrivent Financial for Lutherans bought a new stake in Warby Parker during the third quarter valued at about $213,000. Finally, LVW Advisors LLC increased its holdings in shares of Warby Parker by 27.9% in the third quarter. LVW Advisors LLC now owns 16,027 shares of the company’s stock worth $262,000 after purchasing an additional 3,500 shares during the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

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.