Warby Parker (NYSE:WRBY) Given New $20.00 Price Target at BTIG Research

Warby Parker (NYSE:WRBY - Get Free Report) had its price objective upped by analysts at BTIG Research from $18.00 to $20.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target would suggest a potential upside of 14.61% from the stock's previous close.

Several other brokerages have also issued reports on WRBY. JMP Securities raised shares of Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 price target on the stock in a report on Friday, August 23rd. Telsey Advisory Group reissued an "outperform" rating and issued a $19.00 price target on shares of Warby Parker in a research report on Thursday. The Goldman Sachs Group raised Warby Parker from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $15.00 to $18.00 in a report on Monday, October 21st. Stifel Nicolaus increased their price objective on Warby Parker from $14.00 to $15.00 and gave the stock a "hold" rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $15.00 to $18.00 in a research note on Monday, October 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.30.

Warby Parker Price Performance

Shares of NYSE WRBY traded up $0.52 during mid-day trading on Friday, hitting $17.45. The company had a trading volume of 1,317,555 shares, compared to its average volume of 1,390,126. Warby Parker has a 12 month low of $9.83 and a 12 month high of $18.37. The firm has a market cap of $1.76 billion, a P/E ratio of -44.74 and a beta of 1.82. The business's 50-day simple moving average is $15.57 and its 200-day simple moving average is $15.32.

Warby Parker (NYSE:WRBY - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. The company had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. As a group, sell-side analysts predict that Warby Parker will post -0.04 EPS for the current year.

Insider Buying and Selling at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 27,143 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at $158,301. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Warby Parker news, CFO Steven Clive Miller sold 6,763 shares of the company's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the sale, the chief financial officer now owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Neil Harris Blumenthal sold 27,143 shares of the firm's stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the transaction, the chief executive officer now owns 12,177 shares in the company, valued at approximately $158,301. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 99,178 shares of company stock worth $1,339,901. Insiders own 26.55% of the company's stock.

Institutional Trading of Warby Parker

A number of hedge funds have recently modified their holdings of the company. AIA Group Ltd grew its holdings in Warby Parker by 12.2% during the third quarter. AIA Group Ltd now owns 182,573 shares of the company's stock valued at $2,981,000 after purchasing an additional 19,923 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Warby Parker by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company's stock worth $782,000 after purchasing an additional 1,556 shares in the last quarter. Zweig DiMenna Associates LLC grew its holdings in shares of Warby Parker by 57.2% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 507,450 shares of the company's stock valued at $8,287,000 after buying an additional 184,700 shares during the period. Prentiss Smith & Co. Inc. acquired a new stake in Warby Parker during the 3rd quarter worth $1,112,000. Finally, LVW Advisors LLC raised its stake in Warby Parker by 27.9% during the 3rd quarter. LVW Advisors LLC now owns 16,027 shares of the company's stock worth $262,000 after buying an additional 3,500 shares during the period. 93.24% of the stock is currently 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.