JMP Securities Issues Pessimistic Forecast for Warby Parker (NYSE:WRBY) Stock Price

Warby Parker (NYSE:WRBY) had its price objective decreased by equities researchers at JMP Securities from $30.00 to $22.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “market outperform” rating on the stock. JMP Securities’ target price would suggest a potential upside of 48.80% from the stock’s current price.

Several other brokerages also recently weighed in on WRBY. UBS Group upped their target price on shares of Warby Parker from $20.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, February 28th. Evercore ISI reiterated an “in-line” rating and set a $23.00 target price on shares of Warby Parker in a research report on Friday, January 17th. Piper Sandler decreased their target price on Warby Parker from $30.00 to $20.00 and set an “overweight” rating on the stock in a research note on Friday, April 11th. Roth Capital upgraded Warby Parker to a “strong-buy” rating in a research note on Monday, February 24th. Finally, Stifel Nicolaus reduced their price objective on shares of Warby Parker from $25.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Six research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Warby Parker has an average rating of “Moderate Buy” and a consensus target price of $22.71.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $14.79 on Monday. The company has a market capitalization of $1.53 billion, a P/E ratio of -54.76 and a beta of 2.00. Warby Parker has a 1-year low of $11.66 and a 1-year high of $28.68. The firm’s 50 day simple moving average is $20.67 and its two-hundred day simple moving average is $21.60.

Insiders Place Their Bets

In related news, CFO Steven Clive Miller sold 11,684 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $23.52, for a total value of $274,807.68. Following the sale, the chief financial officer now directly owns 204,727 shares of the company’s stock, valued at $4,815,179.04. This represents a 5.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total transaction of $657,783.84. Following the completion of the sale, the chief executive officer now directly owns 23,961 shares of the company’s stock, valued at approximately $563,562.72. The trade was a 53.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,651 shares of company stock valued at $2,313,092 over the last three months. 26.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Warby Parker

Hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC bought a new stake in shares of Warby Parker during the fourth quarter worth $25,000. NewEdge Advisors LLC lifted its holdings in Warby Parker by 700.0% during the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company’s stock valued at $29,000 after buying an additional 1,050 shares in the last quarter. Jones Financial Companies Lllp boosted its position in Warby Parker by 205.6% in the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after buying an additional 1,028 shares during the period. Comerica Bank grew its stake in Warby Parker by 153.1% in the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock worth $55,000 after acquiring an additional 1,386 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Warby Parker during the fourth quarter worth approximately $69,000. 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.