Brokerages Set Warby Parker Inc. (NYSE:WRBY) Target Price at $16.29

Warby Parker Inc. (NYSE:WRBY) has received an average recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $16.29.

A number of research firms have recently issued reports on WRBY. Morgan Stanley increased their price objective on shares of Warby Parker from $12.00 to $13.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Telsey Advisory Group reissued an “outperform” rating and set a $19.00 price objective on shares of Warby Parker in a report on Wednesday, February 28th.

Insiders Place Their Bets

In other Warby Parker news, CEO David Abraham Gilboa sold 52,065 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.20, for a total value of $635,193.00. Following the completion of the transaction, the chief executive officer now owns 12,306 shares in the company, valued at $150,133.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO David Abraham Gilboa sold 52,065 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $12.20, for a total transaction of $635,193.00. Following the completion of the transaction, the chief executive officer now owns 12,306 shares in the company, valued at approximately $150,133.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 8,708 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $11.88, for a total transaction of $103,451.04. Following the transaction, the chief financial officer now owns 191,104 shares of the company’s stock, valued at approximately $2,270,315.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,084 shares of company stock worth $1,074,979. Company insiders own 26.91% of the company’s stock.

Institutional Trading of Warby Parker

Large investors have recently bought and sold shares of the business. Point72 Middle East FZE purchased a new stake in Warby Parker during the 4th quarter valued at about $37,000. Strs Ohio purchased a new stake in Warby Parker during the 4th quarter valued at about $40,000. Quarry LP grew its stake in Warby Parker by 1,434.1% during the 1st quarter. Quarry LP now owns 3,421 shares of the company’s stock valued at $36,000 after acquiring an additional 3,198 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of Warby Parker by 137,633.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,132 shares of the company’s stock valued at $54,000 after buying an additional 4,129 shares during the period. Finally, Mirabella Financial Services LLP purchased a new stake in shares of Warby Parker in the 1st quarter valued at approximately $200,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

Warby Parker Price Performance

Warby Parker stock opened at $11.88 on Friday. Warby Parker has a 1-year low of $9.83 and a 1-year high of $16.49. The company’s 50-day moving average is $13.09 and its 200 day moving average is $12.91.

Warby Parker (NYSE:WRBY) last issued its earnings results on Wednesday, February 28th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The company had revenue of $161.86 million for the quarter, compared to analysts’ expectations of $161.01 million. Warby Parker had a negative return on equity of 16.36% and a negative net margin of 9.44%. On average, equities research analysts anticipate that Warby Parker will post -0.17 EPS for the current year.

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.