Warby Parker (NYSE:WRBY) Releases Earnings Results, Misses Estimates By $0.03 EPS

Warby Parker (NYSE:WRBY) released its earnings results on Thursday. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03), Zacks reports. The firm had revenue of $221.68 million during the quarter, compared to the consensus estimate of $224.49 million. Warby Parker had a negative return on equity of 0.79% and a negative net margin of 1.12%.The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.03) EPS. Warby Parker updated its FY 2025 guidance to EPS.

Warby Parker Price Performance

WRBY opened at $16.92 on Friday. Warby Parker has a one year low of $13.63 and a one year high of $29.73. The business has a 50 day simple moving average of $24.37 and a two-hundred day simple moving average of $22.54. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -241.68 and a beta of 2.06.

Insider Activity

In related news, Director Joel E. Cutler sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $26.75, for a total transaction of $936,250.00. Following the completion of the transaction, the director owned 19,932 shares in the company, valued at $533,181. This represents a 63.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $25.11, for a total value of $1,255,500.00. Following the completion of the sale, the chief executive officer directly owned 28,347 shares of the company’s stock, valued at $711,793.17. The trade was a 63.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 141,000 shares of company stock valued at $3,709,521. Company insiders own 18.24% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of large investors have recently modified their holdings of WRBY. Man Group plc increased its position in shares of Warby Parker by 1.6% during the second quarter. Man Group plc now owns 25,095 shares of the company’s stock valued at $550,000 after buying an additional 400 shares during the period. Rafferty Asset Management LLC boosted its position in Warby Parker by 5.4% during the 2nd quarter. Rafferty Asset Management LLC now owns 15,899 shares of the company’s stock valued at $349,000 after acquiring an additional 819 shares in the last quarter. Clough Capital Partners L P grew its holdings in shares of Warby Parker by 3.3% during the 2nd quarter. Clough Capital Partners L P now owns 30,737 shares of the company’s stock worth $674,000 after acquiring an additional 985 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Warby Parker by 2.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,861 shares of the company’s stock worth $1,181,000 after acquiring an additional 1,171 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Warby Parker by 1.9% in the 2nd quarter. California State Teachers Retirement System now owns 79,876 shares of the company’s stock valued at $1,752,000 after purchasing an additional 1,473 shares during the period. Institutional investors own 93.24% of the company’s stock.

Analysts Set New Price Targets

WRBY has been the topic of several research reports. UBS Group reissued a “neutral” rating and set a $23.00 price target (up from $20.00) on shares of Warby Parker in a research note on Friday, August 8th. Wall Street Zen lowered shares of Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Citizens Jmp downgraded shares of Warby Parker from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 10th. Roth Capital set a $24.00 price target on shares of Warby Parker and gave the company a “neutral” rating in a research report on Tuesday, August 5th. Finally, JMP Securities reiterated a “market perform” rating on shares of Warby Parker in a report on Thursday, July 10th. Nine investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $24.73.

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.