Warby Parker’s (WRBY) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Warby Parker (NYSE:WRBY)‘s stock had its “outperform” rating reiterated by equities researchers at Telsey Advisory Group in a note issued to investors on Thursday, Benzinga reports. They presently have a $19.00 price objective on the stock. Telsey Advisory Group’s target price indicates a potential upside of 8.88% from the company’s previous close.

Several other analysts have also recently commented on the stock. JMP Securities raised shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price target on the stock in a research note on Friday, August 23rd. The Goldman Sachs Group raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Loop Capital increased their price target on shares of Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price target for the company from $15.00 to $18.00 in a research note on Monday, October 21st. Finally, Piper Sandler assumed coverage on shares of Warby Parker in a research note on Friday, August 23rd. They set an “overweight” rating and a $18.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.30.

Warby Parker Stock Up 3.1 %

Shares of Warby Parker stock opened at $17.45 on Thursday. Warby Parker has a 1-year low of $9.83 and a 1-year high of $18.37. The firm’s 50-day moving average price is $15.57 and its two-hundred day moving average price is $15.32.

Warby Parker (NYSE:WRBY) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $188.22 million for the quarter, compared to analysts’ expectations of $186.89 million. Warby Parker had a negative net margin of 6.38% and a negative return on equity of 11.09%. Research analysts anticipate that Warby Parker will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total value of $94,005.70. Following the sale, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Neil Harris Blumenthal sold 27,143 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 $352,859.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 99,178 shares of company stock worth $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

A number of hedge funds and other institutional investors have recently made changes to their positions in WRBY. Vanguard Group Inc. raised its holdings in shares of Warby Parker by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock worth $119,258,000 after acquiring an additional 607,352 shares during the period. Principal Financial Group Inc. bought a new position in Warby Parker in the first quarter valued at $158,000. Janney Montgomery Scott LLC grew its position in Warby Parker by 302.0% in the first quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company’s stock valued at $657,000 after purchasing an additional 36,245 shares in the last quarter. Jennison Associates LLC grew its position in Warby Parker by 17.2% in the first quarter. Jennison Associates LLC now owns 1,000,138 shares of the company’s stock valued at $13,612,000 after purchasing an additional 146,697 shares in the last quarter. Finally, Sciencast Management LP bought a new position in Warby Parker in the first quarter valued at $145,000. 93.24% of the stock is currently owned by institutional investors and hedge funds.

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.