Warby Parker Inc. (NYSE:WRBY) Stock Has Consensus Target Price of $30.00

Warby Parker Inc. (NYSE:WRBY) has been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $30.00.

Several equities research analysts recently weighed in on WRBY shares. Roth Capital reaffirmed a “neutral” rating and set a $28.00 price objective on shares of Warby Parker in a research report on Wednesday, August 5th. Citizens Jmp decreased their target price on shares of Warby Parker from $30.00 to $29.00 and set a “market outperform” rating on the stock in a report on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $29.00 target price on shares of Warby Parker in a research report on Thursday, September 17th. Weiss Ratings cut shares of Warby Parker from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. Finally, BTIG Research reaffirmed a “buy” rating on shares of Warby Parker in a report on Tuesday.

Insider Buying and Selling

In other Warby Parker news, CEO Neil Blumenthal sold 100,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $27.69, for a total transaction of $2,769,000.00. Following the completion of the transaction, the chief executive officer owned 36,020 shares of the company’s stock, valued at approximately $997,393.80. The trade was a 73.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Hedge funds have recently made changes to their positions in the stock. State of Wyoming boosted its position in Warby Parker by 10.8% in the third quarter. State of Wyoming now owns 12,019 shares of the company’s stock valued at $334,000 after buying an additional 1,174 shares in the last quarter. Motley Fool Asset Management LLC grew its stake in shares of Warby Parker by 18.3% during the third quarter. Motley Fool Asset Management LLC now owns 70,538 shares of the company’s stock worth $1,960,000 after buying an additional 10,926 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in shares of Warby Parker by 6.9% during the third quarter. Simplify Asset Management Inc. now owns 627,337 shares of the company’s stock worth $17,427,000 after buying an additional 40,271 shares in the last quarter. Sterling Capital Management LLC increased its holdings in shares of Warby Parker by 839.3% during the third quarter. Sterling Capital Management LLC now owns 3,419 shares of the company’s stock worth $95,000 after buying an additional 3,055 shares in the last quarter. Finally, Kings Path Partners LLC bought a new position in Warby Parker in the third quarter valued at about $476,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

Warby Parker Price Performance

Shares of NYSE WRBY opened at $24.46 on Friday. The business has a fifty day moving average price of $25.28 and a two-hundred day moving average price of $25.26. The stock has a market capitalization of $2.65 billion, a PE ratio of 349.39, a P/E/G ratio of 7.02 and a beta of 1.89. Warby Parker has a fifty-two week low of $14.96 and a fifty-two week high of $31.00.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, August 6th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Warby Parker had a return on equity of 3.36% and a net margin of 0.85%. The company had revenue of $235.51 million for the quarter, compared to analyst estimates of $237.98 million. During the same period last year, the company posted ($0.01) earnings per share. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts expect that Warby Parker will post 0.14 EPS for the current year.

Warby Parker Company Profile

Warby Parker Inc is an optical retailer that designs, manufactures and sells prescription eyeglasses, sunglasses, contact lenses and related accessories. The company offers its products through its website, mobile applications and a growing network of retail stores, combining online shopping with in-person services such as frame fitting and eye examinations.

Founded in 2010 by Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker was established as a direct-to-consumer eyewear company.