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

Shares of Warby Parker Inc. (NYSE:WRBY) have earned an average recommendation of “Hold” from the eight analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.29.

A number of research firms have recently commented on WRBY. Morgan Stanley raised 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 report on Wednesday, January 24th. Telsey Advisory Group reiterated an “outperform” rating and set a $19.00 target price on shares of Warby Parker in a research report on Wednesday, February 28th.

Insider Buying and Selling

In related news, CEO David Abraham Gilboa sold 28,311 shares of Warby Parker stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total value of $336,334.68. Following the transaction, the chief executive officer now directly owns 12,306 shares of the company’s stock, valued at $146,195.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Warby Parker news, CFO Steven Clive Miller sold 8,708 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $103,451.04. Following the transaction, the chief financial officer now directly owns 191,104 shares of the company’s stock, valued at approximately $2,270,315.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Abraham Gilboa sold 28,311 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $11.88, for a total transaction of $336,334.68. Following the transaction, the chief executive officer now directly owns 12,306 shares in the company, valued at $146,195.28. The disclosure for this sale can be found here. Insiders have sold a total of 89,084 shares of company stock valued at $1,074,979 over the last three months. 26.91% of the stock is owned by company insiders.

Institutional Trading of Warby Parker

A number of hedge funds have recently modified their holdings of the business. Envestnet Asset Management Inc. boosted its holdings in shares of Warby Parker by 2.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 35,683 shares of the company’s stock valued at $503,000 after buying an additional 789 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Warby Parker by 0.4% during the 4th quarter. Panagora Asset Management Inc. now owns 198,671 shares of the company’s stock valued at $2,801,000 after buying an additional 847 shares in the last quarter. Jacobson & Schmitt Advisors LLC boosted its holdings in shares of Warby Parker by 0.3% during the 3rd quarter. Jacobson & Schmitt Advisors LLC now owns 398,596 shares of the company’s stock valued at $5,246,000 after buying an additional 1,120 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Warby Parker by 11.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,493 shares of the company’s stock valued at $154,000 after buying an additional 1,191 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Warby Parker by 16.5% during the 2nd quarter. Osaic Holdings Inc. now owns 8,439 shares of the company’s stock valued at $99,000 after buying an additional 1,197 shares in the last quarter. Institutional investors own 93.24% of the company’s stock.

Warby Parker Stock Down 3.1 %

Shares of NYSE:WRBY opened at $12.62 on Friday. The firm has a market capitalization of $1.24 billion, a PE ratio of -23.37 and a beta of 1.63. Warby Parker has a twelve month low of $9.83 and a twelve month high of $16.49. The company has a 50-day moving average price of $13.16 and a two-hundred day moving average price of $12.92.

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

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.