Stifel Nicolaus Forecasts Strong Price Appreciation for Warby Parker (NYSE:WRBY) Stock

Warby Parker (NYSE:WRBY) had its price objective hoisted by analysts at Stifel Nicolaus from $18.00 to $21.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 4.17% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Morgan Stanley upped their price target on Warby Parker from $17.00 to $23.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upped their price target on Warby Parker from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 9th. UBS Group dropped their price target on Warby Parker from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Roth Mkm began coverage on Warby Parker in a research report on Tuesday, February 25th. They set a “neutral” rating and a $26.00 price target on the stock. Finally, TD Securities upped their price target on Warby Parker from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.56.

Warby Parker Trading Up 0.6%

WRBY stock opened at $20.16 on Wednesday. Warby Parker has a 1-year low of $12.46 and a 1-year high of $28.68. The stock’s fifty day simple moving average is $16.89 and its two-hundred day simple moving average is $21.59. The stock has a market cap of $2.11 billion, a P/E ratio of -74.67 and a beta of 2.01.

Insider Activity at Warby Parker

In other Warby Parker news, CFO Steven Clive Miller sold 11,684 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $274,807.68. Following the transaction, the chief financial officer now directly owns 204,727 shares in the company, valued at $4,815,179.04. This represents a 5.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,967 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $23.52, for a total value of $657,783.84. Following the completion of the transaction, the chief executive officer now owns 23,961 shares in the company, valued at $563,562.72. This represents a 53.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently added to or reduced their stakes in WRBY. Global Retirement Partners LLC bought a new position in Warby Parker in the 4th quarter worth about $25,000. New York State Teachers Retirement System bought a new position in shares of Warby Parker during the 1st quarter valued at about $27,000. NewEdge Advisors LLC increased its position in shares of 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 purchasing an additional 1,050 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Warby Parker by 205.6% during the 4th quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company’s stock valued at $37,000 after purchasing an additional 1,028 shares during the last quarter. Finally, Comerica Bank increased its position in shares of Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company’s stock valued at $55,000 after purchasing an additional 1,386 shares during the last quarter. 93.24% of the stock is currently owned by institutional investors.

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.