Telsey Advisory Group Cuts Warby Parker (NYSE:WRBY) Price Target to $24.00

Warby Parker (NYSE:WRBY) had its target price decreased by equities researchers at Telsey Advisory Group from $28.00 to $24.00 in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 45.20% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Roth Capital set a $24.00 price target on shares of Warby Parker and gave the company a “neutral” rating in a report on Tuesday, August 5th. The Goldman Sachs Group boosted their target price on Warby Parker from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 6th. Robert W. Baird set a $30.00 price objective on Warby Parker and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Wall Street Zen downgraded Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, JMP Securities restated a “market perform” rating on shares of Warby Parker in a research report on Thursday, July 10th. Nine research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.73.

Warby Parker Price Performance

Shares of NYSE:WRBY traded down $0.40 during midday trading on Friday, reaching $16.53. The company’s stock had a trading volume of 1,080,751 shares, compared to its average volume of 2,122,489. The business’s fifty day simple moving average is $24.37 and its 200-day simple moving average is $22.54. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week 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 issued its quarterly earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $221.68 million for the quarter, compared to analyst estimates of $224.49 million. Warby Parker had a negative return on equity of 0.79% and a negative net margin of 1.12%.The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. Warby Parker has set its FY 2025 guidance at EPS. On average, analysts forecast that Warby Parker will post -0.12 earnings per share for the current fiscal year.

Insider Activity at Warby Parker

In other Warby Parker news, Director Teresa Briggs sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $23.56, for a total transaction of $141,360.00. Following the completion of the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil Harris Blumenthal sold 8,416 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.52, for a total transaction of $231,608.32. Following the transaction, the chief executive officer directly owned 32,733 shares of the company’s stock, valued at $900,812.16. This represents a 20.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 141,000 shares of company stock valued at $3,709,521. 18.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Warby Parker

Institutional investors and hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Warby Parker in the first quarter valued at about $2,029,000. New York State Teachers Retirement System acquired a new position in shares of Warby Parker during the 1st quarter worth approximately $27,000. Kings Path Partners LLC acquired a new position in shares of Warby Parker during the 2nd quarter worth approximately $300,000. Jennison Associates LLC increased its holdings in shares of Warby Parker by 23.7% during the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company’s stock worth $39,635,000 after purchasing an additional 416,797 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Warby Parker in the first quarter valued at approximately $656,000. Institutional investors 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.