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

Shares of Warby Parker Inc. (NYSE:WRBY) have received a consensus rating of “Hold” from the nineteen ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $24.5333.

A number of analysts have recently weighed in on WRBY shares. Zacks Research raised shares of Warby Parker from a “strong sell” rating to a “hold” rating in a report on Thursday, September 4th. Stifel Nicolaus upped their target price on Warby Parker from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, August 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Warby Parker in a research note on Wednesday, October 8th. BTIG Research lowered their price target on Warby Parker from $28.00 to $25.00 and set a “buy” rating for the company in a report on Thursday. Finally, The Goldman Sachs Group upped their price objective on Warby Parker from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Monday, October 6th.

Warby Parker Price Performance

Shares of NYSE:WRBY opened at $17.15 on Friday. The business’s 50 day simple moving average is $24.19 and its 200 day simple moving average is $22.56. Warby Parker has a 1 year low of $13.63 and a 1 year high of $29.73. The company has a market capitalization of $1.80 billion, a P/E ratio of 1,714.50 and a beta of 2.06.

Warby Parker (NYSE:WRBY) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. Warby Parker had a net margin of 0.08% and a return on equity of 1.98%. Warby Parker’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.03) earnings per share. Warby Parker has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Warby Parker will post -0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $25.11, for a total transaction of $1,255,500.00. Following the completion of the transaction, the chief executive officer directly owned 28,347 shares in the company, valued at $711,793.17. This represents a 63.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joel E. Cutler sold 35,000 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $26.75, for a total transaction 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. The trade was a 63.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 141,000 shares of company stock valued at $3,709,521. 18.24% of the stock is currently owned by corporate insiders.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of Warby Parker by 987.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,182,573 shares of the company’s stock valued at $113,654,000 after acquiring an additional 4,706,148 shares during the last quarter. Nuveen LLC bought a new position in Warby Parker in the first quarter valued at about $30,549,000. Artisan Partners Limited Partnership bought a new position in Warby Parker in the second quarter valued at about $27,589,000. Durable Capital Partners LP boosted its stake in shares of Warby Parker by 13.2% during the first quarter. Durable Capital Partners LP now owns 10,212,383 shares of the company’s stock valued at $186,172,000 after purchasing an additional 1,194,558 shares in the last quarter. Finally, 12 West Capital Management LP bought a new stake in shares of Warby Parker during the first quarter worth about $21,420,000. Institutional investors own 93.24% of the company’s stock.

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.