Warby Parker Inc. (NYSE:WRBY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Warby Parker Inc. (NYSE:WRBY) has been assigned an average rating of “Moderate Buy” from the eighteen research firms that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $22.88.

A number of equities analysts recently commented on WRBY shares. Telsey Advisory Group reduced their price objective on Warby Parker from $30.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Loop Capital reiterated a “buy” rating on shares of Warby Parker in a research report on Wednesday, May 21st. Roth Capital reiterated a “neutral” rating and set a $21.00 price objective (up previously from $18.00) on shares of Warby Parker in a research report on Thursday, May 22nd. Piper Sandler reiterated an “overweight” rating and set a $25.00 price objective (up previously from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. Finally, JMP Securities cut their target price on Warby Parker from $30.00 to $22.00 and set a “market outperform” rating for the company in a research note on Monday, April 14th.

Warby Parker Price Performance

NYSE WRBY opened at $22.25 on Friday. The company has a market cap of $2.33 billion, a PE ratio of -185.42 and a beta of 2.09. The stock’s 50 day simple moving average is $19.96 and its 200-day simple moving average is $21.37. Warby Parker has a 1-year low of $12.46 and a 1-year high of $28.68.

Insider Buying and Selling

In related news, Director Youngme E. Moon sold 33,073 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $19.90, for a total transaction of $658,152.70. Following the completion of the transaction, the director directly owned 53,869 shares of the company’s stock, valued at $1,071,993.10. The trade was a 38.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 18.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WRBY. Proficio Capital Partners LLC purchased a new stake in Warby Parker during the 4th quarter worth about $273,000. Jones Financial Companies Lllp raised its stake in 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 acquiring an additional 1,028 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Warby Parker by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 742,550 shares of the company’s stock valued at $17,977,000 after acquiring an additional 13,501 shares during the last quarter. Atria Investments Inc purchased a new stake in Warby Parker during the 4th quarter valued at approximately $241,000. Finally, Arizona State Retirement System raised its stake in Warby Parker by 2.6% during the 4th quarter. Arizona State Retirement System now owns 24,881 shares of the company’s stock valued at $602,000 after acquiring an additional 619 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

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.