UBS Group Cuts Warby Parker (NYSE:WRBY) Price Target to $20.00

Warby Parker (NYSE:WRBY) had its price objective reduced by investment analysts at UBS Group from $23.00 to $20.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would suggest a potential upside of 16.86% from the stock’s previous close.

WRBY has been the topic of a number of other research reports. Stifel Nicolaus upped their target price on Warby Parker from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, August 8th. Zacks Research raised shares of Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Cowen reissued a “buy” rating on shares of Warby Parker in a report on Friday, August 8th. Wall Street Zen lowered shares of Warby Parker from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Warby Parker in a research report on Wednesday, October 8th. Nine analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.53.

Warby Parker Trading Up 1.1%

Shares of NYSE WRBY traded up $0.19 during midday trading on Friday, reaching $17.12. The company had a trading volume of 2,163,561 shares, compared to its average volume of 2,128,399. Warby Parker has a 1 year low of $13.63 and a 1 year high of $29.73. The business’s 50-day simple moving average is $24.37 and its 200 day simple moving average is $22.54. The stock has a market cap of $1.80 billion, a P/E ratio of -244.47 and a beta of 2.06.

Warby Parker (NYSE:WRBY) last released its earnings results on Thursday, November 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. Warby Parker had a negative net margin of 1.12% and a negative return on equity of 0.79%. Warby Parker’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) earnings per share. Warby Parker has set its FY 2025 guidance at EPS. Analysts predict that Warby Parker will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Neil Harris Blumenthal sold 8,416 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.52, for a total transaction of $231,608.32. Following the completion of the sale, the chief executive officer directly owned 32,733 shares in the company, valued at approximately $900,812.16. The trade was a 20.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joel E. Cutler sold 35,000 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $26.75, for a total value of $936,250.00. Following the completion of the transaction, the director directly owned 19,932 shares of the company’s stock, valued at approximately $533,181. This represents a 63.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 141,000 shares of company stock worth $3,709,521. Insiders own 18.24% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Warby Parker in the 1st quarter valued at about $2,029,000. New York State Teachers Retirement System purchased a new stake in shares of Warby Parker in the first quarter valued at approximately $27,000. Kings Path Partners LLC purchased a new stake in shares of Warby Parker in the second quarter valued at approximately $300,000. Jennison Associates LLC increased its holdings in shares of Warby Parker by 23.7% in the first quarter. Jennison Associates LLC now owns 2,174,158 shares of the company’s stock valued at $39,635,000 after purchasing an additional 416,797 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Warby Parker during the first quarter worth approximately $656,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.

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.