Warby Parker (NYSE:WRBY) Price Target Raised to $32.00

Warby Parker (NYSE:WRBY) had its target price increased by analysts at BTIG Research from $25.00 to $32.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 7.81% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Research raised shares of Warby Parker from a “strong sell” rating to a “hold” rating in a research report on Thursday, September 4th. Wall Street Zen lowered Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. UBS Group dropped their price target on Warby Parker from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Citizens Jmp upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $30.00 price objective for the company in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Warby Parker in a research note on Monday. Eleven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.31.

Warby Parker Stock Performance

Shares of WRBY stock traded up $0.11 during midday trading on Thursday, hitting $29.68. 10,322,454 shares of the company were exchanged, compared to its average volume of 2,419,910. The firm’s 50 day moving average price is $20.48 and its two-hundred day moving average price is $22.91. Warby Parker has a 52 week low of $13.63 and a 52 week high of $31.00. The firm has a market capitalization of $3.14 billion, a P/E ratio of 2,960.80 and a beta of 2.06.

Warby Parker (NYSE:WRBY) last announced its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Warby Parker had a net margin of 0.08% and a return on equity of 1.96%. The business had revenue of $221.68 million during the quarter, compared to the consensus estimate of $224.49 million. During the same period in the previous year, the firm posted ($0.03) EPS. The company’s revenue was up 15.2% compared to the same quarter last year. Analysts expect that Warby Parker will post -0.12 EPS for the current year.

Insider Activity

In other news, CEO Neil Harris Blumenthal sold 8,416 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.52, for a total value of $231,608.32. Following the completion of the transaction, the chief executive officer directly owned 32,733 shares of the company’s stock, valued at $900,812.16. This trade represents a 20.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 18.24% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. bought a new stake in shares of Warby Parker during the third quarter valued at about $289,000. NewEdge Advisors LLC grew its position in shares of Warby Parker by 56.7% in the 3rd quarter. NewEdge Advisors LLC now owns 2,350 shares of the company’s stock worth $65,000 after buying an additional 850 shares during the last quarter. Shelton Capital Management raised its holdings in shares of Warby Parker by 100.6% during the third quarter. Shelton Capital Management now owns 32,100 shares of the company’s stock valued at $885,000 after acquiring an additional 16,100 shares in the last quarter. Mariner LLC lifted its stake in Warby Parker by 6.2% in the third quarter. Mariner LLC now owns 25,602 shares of the company’s stock worth $706,000 after acquiring an additional 1,502 shares during the period. Finally, Lombard Odier Asset Management USA Corp boosted its holdings in Warby Parker by 9.1% in the third quarter. Lombard Odier Asset Management USA Corp now owns 18,818 shares of the company’s stock valued at $519,000 after acquiring an additional 1,566 shares in the last quarter. 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.