Warby Parker (NYSE:WRBY) Given "Outperform" Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of Warby Parker (NYSE:WRBY - Free Report) in a report published on Thursday morning, Benzinga reports. The brokerage currently has a $19.00 target price on the stock.

A number of other brokerages have also weighed in on WRBY. Piper Sandler began coverage on Warby Parker in a research report on Friday, August 23rd. They set an "overweight" rating and a $18.00 price objective for the company. Loop Capital increased their price target on shares of Warby Parker from $15.00 to $16.00 and gave the company a "hold" rating in a report on Wednesday, July 10th. Stifel Nicolaus increased their price target on shares of Warby Parker from $14.00 to $15.00 and gave the company a "hold" rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised shares of Warby Parker from a "neutral" rating to a "buy" rating and increased their price target for the company from $15.00 to $18.00 in a report on Monday, October 21st. Finally, JMP Securities raised shares of Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 price target for the company in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Warby Parker currently has an average rating of "Moderate Buy" and an average target price of $17.00.

Warby Parker Stock Performance

Shares of NYSE WRBY traded down $0.19 during midday trading on Thursday, hitting $16.93. 862,522 shares of the stock traded hands, compared to its average volume of 1,390,465. Warby Parker has a one year low of $9.83 and a one year high of $18.37. The firm has a market capitalization of $1.70 billion, a P/E ratio of -43.46 and a beta of 1.82. The firm has a 50-day moving average of $15.47 and a two-hundred day moving average of $15.28.

Warby Parker (NYSE:WRBY - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. The business had revenue of $188.22 million during the quarter, compared to analyst estimates of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. Equities analysts forecast that Warby Parker will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Warby Parker news, Director Bradley E. Singer acquired 50,000 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $13.00 per share, with a total value of $650,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares in the company, valued at $1,300,000. This represents a 100.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Clive Miller sold 6,763 shares of Warby Parker stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 177,488 shares in the company, valued at approximately $2,467,083.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 99,178 shares of company stock valued at $1,339,901 over the last 90 days. Insiders own 26.55% of the company's stock.

Hedge Funds Weigh In On Warby Parker

Several institutional investors have recently bought and sold shares of WRBY. Vanguard Group Inc. grew its holdings in Warby Parker by 2.6% in the first quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company's stock worth $118,095,000 after purchasing an additional 219,120 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Warby Parker by 113.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company's stock worth $39,787,000 after purchasing an additional 1,315,672 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in Warby Parker by 149.4% in the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company's stock worth $22,970,000 after purchasing an additional 1,011,030 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Warby Parker by 44.3% in the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company's stock worth $25,192,000 after purchasing an additional 481,900 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Warby Parker by 1,013.4% in the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company's stock worth $22,852,000 after purchasing an additional 1,295,136 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.