Warby Parker Inc. (NYSE:WRBY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Warby Parker Inc. (NYSE:WRBY) have been given an average rating of “Moderate Buy” by the nineteen analysts that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $26.75.

WRBY has been the subject of a number of research reports. Piper Sandler upped their price objective on Warby Parker from $22.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Stifel Nicolaus raised their target price on Warby Parker from $19.00 to $25.00 and gave the stock a “hold” rating in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Warby Parker in a research report on Monday, December 22nd. Zacks Research upgraded shares of Warby Parker from a “strong sell” rating to a “hold” rating in a research note on Thursday, September 4th. Finally, Wall Street Zen downgraded shares of Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st.

Insiders Place Their Bets

In other news, Director Joel E. Cutler sold 19,932 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $26.01, for a total transaction of $518,431.32. Following the sale, the director directly owned 20,000 shares in the company, valued at $520,200. This trade represents a 49.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Youngme E. Moon sold 38,832 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $29.07, for a total value of $1,128,846.24. Following the completion of the transaction, the director owned 27,057 shares in the company, valued at $786,546.99. The trade was a 58.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 158,764 shares of company stock worth $4,676,278. Company insiders own 18.24% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AlphaQuest LLC boosted its holdings in shares of Warby Parker by 3,974.2% in the 1st quarter. AlphaQuest LLC now owns 13,730 shares of the company’s stock worth $250,000 after purchasing an additional 13,393 shares during the period. Ieq Capital LLC lifted its position in Warby Parker by 113.4% in the first quarter. Ieq Capital LLC now owns 29,643 shares of the company’s stock worth $540,000 after buying an additional 15,749 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in Warby Parker by 266.1% during the first quarter. OMERS ADMINISTRATION Corp now owns 82,000 shares of the company’s stock worth $1,495,000 after buying an additional 59,600 shares during the period. Trexquant Investment LP raised its stake in shares of Warby Parker by 232.7% in the first quarter. Trexquant Investment LP now owns 538,909 shares of the company’s stock valued at $9,824,000 after acquiring an additional 376,936 shares during the period. Finally, State of Wyoming bought a new stake in shares of Warby Parker in the 1st quarter worth about $157,000. 93.24% of the stock is currently owned by institutional investors.

Warby Parker Stock Performance

Shares of WRBY stock opened at $24.19 on Friday. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 2,418.60 and a beta of 2.06. Warby Parker has a one year low of $13.63 and a one year high of $31.00. The company’s 50-day moving average is $21.23 and its 200 day moving average is $23.38.

Warby Parker (NYSE:WRBY) last issued its earnings results on Thursday, November 6th. The company reported $0.06 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $224.49 million. During the same quarter in the prior year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. As a group, research analysts predict that Warby Parker will post -0.12 earnings per share for the current fiscal year.

Warby Parker Company Profile

Warby Parker, Inc (NYSE: WRBY) is a U.S.-based eyewear company that designs, manufactures and sells prescription glasses, sunglasses and contact lenses through a direct-to-consumer model. Since its founding, the company has combined online and brick-and-mortar channels to streamline the customer experience, offering features such as virtual try-on technology and a home try-on program that allows consumers to sample frames before purchase.

Established in 2010 by Wharton graduates Neil Blumenthal, Dave Gilboa, Andrew Hunt and Jeffrey Raider, Warby Parker set out to disrupt the traditional optical market by controlling the entire supply chain—from frame design and lens production to warehousing and distribution.