Piper Sandler Issues Positive Forecast for Warby Parker (NYSE:WRBY) Stock Price

Warby Parker (NYSE:WRBY) had its price objective lifted by Piper Sandler from $18.00 to $22.00 in a research report sent to investors on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research analysts have also issued reports on WRBY. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 target price on the stock in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised Warby Parker from a “neutral” rating to a “buy” rating and boosted their target price for the company from $15.00 to $18.00 in a research report on Monday, October 21st. William Blair raised shares of Warby Parker from a “market perform” rating to an “outperform” rating in a research note on Thursday. The Goldman Sachs Group upgraded Warby Parker from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Finally, BTIG Research upped their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Warby Parker presently has an average rating of “Moderate Buy” and an average price target of $18.18.

Warby Parker Stock Performance

NYSE:WRBY traded up $0.20 during mid-day trading on Friday, hitting $19.51. The stock had a trading volume of 2,526,267 shares, compared to its average volume of 1,414,508. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -50.01 and a beta of 1.80. The company’s 50 day simple moving average is $15.92 and its 200 day simple moving average is $15.55. Warby Parker has a twelve month low of $9.83 and a twelve month high of $19.93.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The company had revenue of $188.22 million for the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. As a group, equities analysts forecast that Warby Parker will post -0.04 earnings per share for the current year.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 15,272 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $13.00, for a total transaction of $198,536.00. Following the completion of the sale, the chief financial officer now owns 184,251 shares of the company’s stock, valued at $2,395,263. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Steven Clive Miller sold 15,272 shares of Warby Parker stock in a transaction on Friday, September 6th. The shares were sold at an average price of $13.00, for a total transaction of $198,536.00. Following the sale, the chief financial officer now directly owns 184,251 shares in the company, valued at $2,395,263. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Harris Blumenthal sold 50,000 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $13.89, for a total transaction of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at approximately $169,138.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its position in Warby Parker by 302.0% during the first quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company’s stock worth $657,000 after buying an additional 36,245 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Warby Parker during the first quarter valued at approximately $176,000. TimesSquare Capital Management LLC lifted its holdings in shares of Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock worth $22,970,000 after acquiring an additional 1,011,030 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Warby Parker by 37.1% in the 1st quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company’s stock valued at $3,067,000 after purchasing an additional 61,004 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Warby Parker by 10.2% during the first quarter. ProShare Advisors LLC now owns 15,470 shares of the company’s stock valued at $211,000 after acquiring an additional 1,434 shares during the period. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Company Profile

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.