$154.15 Million in Sales Expected for Warby Parker Inc (NYSE:WRBY) This Quarter

Brokerages predict that Warby Parker Inc (NYSE:WRBYGet Rating) will announce $154.15 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Warby Parker’s earnings, with the highest sales estimate coming in at $154.50 million and the lowest estimate coming in at $153.80 million. The business is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Warby Parker will report full year sales of $659.80 million for the current fiscal year, with estimates ranging from $659.60 million to $660.00 million. For the next fiscal year, analysts expect that the company will post sales of $827.90 million, with estimates ranging from $822.50 million to $833.49 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Warby Parker.

Warby Parker (NYSE:WRBYGet Rating) last released its quarterly earnings results on Thursday, March 17th. The company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.02. The firm had revenue of $132.89 million during the quarter, compared to the consensus estimate of $133.35 million. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) EPS.

Several equities research analysts have recently issued reports on WRBY shares. Loop Capital lowered their price objective on shares of Warby Parker from $52.00 to $27.00 in a research note on Friday, March 18th. Morgan Stanley lowered their price objective on shares of Warby Parker from $57.00 to $24.00 in a research note on Friday, March 18th. Citigroup decreased their price target on shares of Warby Parker from $54.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, March 18th. Telsey Advisory Group decreased their price target on shares of Warby Parker from $69.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, March 18th. Finally, Zacks Investment Research downgraded shares of Warby Parker from a “hold” rating to a “sell” rating in a research note on Tuesday, April 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Warby Parker currently has an average rating of “Hold” and a consensus target price of $42.00.

Shares of Warby Parker stock traded down $0.47 during midday trading on Tuesday, hitting $29.61. The company had a trading volume of 1,080,651 shares, compared to its average volume of 1,868,041. The company’s 50 day moving average price is $30.12. Warby Parker has a 1-year low of $22.59 and a 1-year high of $60.30.

In related news, CFO Steven Clive Miller sold 5,767 shares of Warby Parker stock in a transaction dated Thursday, March 10th. The stock was sold at an average price of $25.00, for a total value of $144,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Durable Capital Partners Lp purchased 140,975 shares of the business’s stock in a transaction that occurred on Wednesday, January 12th. The stock was acquired at an average cost of $37.94 per share, with a total value of $5,348,591.50. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,126,709 shares of company stock worth $68,973,129 and sold 30,446 shares worth $857,968.

Institutional investors have recently added to or reduced their stakes in the stock. AlpInvest Partners B.V. bought a new stake in Warby Parker during the 3rd quarter worth about $4,072,000. Utah Retirement Systems bought a new stake in Warby Parker during the 3rd quarter worth about $3,036,000. Neuberger Berman Group LLC bought a new stake in Warby Parker during the 3rd quarter worth about $2,688,000. OLD Mission Capital LLC bought a new stake in Warby Parker during the 3rd quarter worth about $987,000. Finally, ARK Investment Management LLC bought a new stake in Warby Parker during the 4th quarter worth about $194,000. 80.44% of the stock is owned by institutional investors and hedge funds.

Warby Parker Company Profile (Get Rating)

Warby Parker Inc is a direct-to-consumer eyewear brand. Warby Parker Inc is based in NEW YORK.

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