BTIG Research Lowers Warby Parker (NYSE:WRBY) Price Target to $25.00

Warby Parker (NYSE:WRBY) had its price target cut by stock analysts at BTIG Research from $28.00 to $25.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 51.27% from the stock’s previous close.

Several other brokerages have also recently weighed in on WRBY. Telsey Advisory Group restated an “outperform” rating and set a $24.00 target price (down from $28.00) on shares of Warby Parker in a report on Friday, October 31st. The Goldman Sachs Group lifted their target price on shares of Warby Parker from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, October 6th. Citizens Jmp downgraded shares of Warby Parker from an “outperform” rating to a “market perform” rating in a report on Thursday, July 10th. Cowen reiterated a “buy” rating on shares of Warby Parker in a report on Friday, August 8th. Finally, Robert W. Baird set a $30.00 target price on Warby Parker and gave the company an “outperform” rating in a research report on Wednesday, July 30th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Warby Parker presently has an average rating of “Hold” and a consensus target price of $24.73.

Warby Parker Stock Performance

NYSE:WRBY traded down $0.40 during mid-day trading on Thursday, hitting $16.53. 1,080,751 shares of the company’s stock traded hands, compared to its average volume of 2,122,489. The company has a fifty day moving average of $24.37 and a 200 day moving average of $22.54. Warby Parker has a twelve month low of $13.63 and a twelve month high of $29.73. The company has a market capitalization of $1.74 billion, a P/E ratio of -236.07 and a beta of 2.06.

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

Insider Activity

In related news, Director Teresa Briggs sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $23.56, for a total transaction of $141,360.00. Following the sale, the director directly owned 44,879 shares of the company’s stock, valued at $1,057,349.24. This represents a 11.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joel E. Cutler sold 35,000 shares of Warby Parker 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 transaction, the director owned 19,932 shares of the company’s stock, valued at $533,181. The trade was a 63.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 141,000 shares of company stock valued at $3,709,521. 18.24% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WRBY. Man Group plc raised its holdings in shares of Warby Parker by 1.6% in the 2nd quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after purchasing an additional 400 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in Warby Parker by 8.3% in the second quarter. Ameritas Investment Partners Inc. now owns 10,034 shares of the company’s stock valued at $220,000 after buying an additional 769 shares during the last quarter. New York State Teachers Retirement System raised its stake in Warby Parker by 10.1% in the third quarter. New York State Teachers Retirement System now owns 8,905 shares of the company’s stock valued at $246,000 after buying an additional 816 shares in the last quarter. Rafferty Asset Management LLC raised its stake in Warby Parker by 5.4% in the second quarter. Rafferty Asset Management LLC now owns 15,899 shares of the company’s stock valued at $349,000 after buying an additional 819 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Warby Parker by 259.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,193 shares of the company’s stock worth $33,000 after buying an additional 861 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.