Warby Parker (NYSE:WRBY) Raised to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Warby Parker (NYSE:WRBY - Free Report) from a neutral rating to a buy rating in a report issued on Monday, Marketbeat.com reports. The Goldman Sachs Group currently has $18.00 price target on the stock, up from their previous price target of $15.00.

Several other research analysts also recently commented on the stock. 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 research note on Friday, August 23rd. Telsey Advisory Group reiterated an "outperform" rating and set a $19.00 target price on shares of Warby Parker in a report on Thursday, August 8th. Stifel Nicolaus increased their target price on shares of Warby Parker from $14.00 to $15.00 and gave the stock a "hold" rating in a report on Friday, August 9th. Piper Sandler started coverage on shares of Warby Parker in a report on Friday, August 23rd. They set an "overweight" rating and a $18.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a "neutral" rating to a "buy" rating and increased their target price for the stock from $15.00 to $18.00 in a report on Monday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Warby Parker Stock Up 10.0 %

WRBY stock traded up $1.65 during trading on Monday, hitting $18.20. The company had a trading volume of 2,608,793 shares, compared to its average volume of 1,398,716. The firm has a market capitalization of $1.83 billion, a P/E ratio of -45.31 and a beta of 1.82. Warby Parker has a 52-week low of $9.83 and a 52-week high of $18.21. The company has a 50 day simple moving average of $14.87 and a 200-day simple moving average of $15.07.

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

Insider Activity

In related news, CFO Steven Clive Miller sold 15,272 shares of Warby Parker stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now directly owns 184,251 shares in the company, valued at $2,395,263. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Steven Clive Miller sold 15,272 shares of Warby Parker stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $13.00, for a total value of $198,536.00. Following the completion of the sale, the chief financial officer now directly owns 184,251 shares in the company, valued at $2,395,263. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bradley E. Singer bought 50,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average price of $13.00 per share, with a total value of $650,000.00. Following the completion of the purchase, the director now directly owns 100,000 shares in the company, valued at $1,300,000. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 99,178 shares of company stock worth $1,339,901. Corporate insiders own 26.55% of the company's stock.

Hedge Funds Weigh In On Warby Parker

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Warby Parker by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company's stock worth $118,095,000 after buying an additional 219,120 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in Warby Parker by 113.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company's stock worth $39,787,000 after buying an additional 1,315,672 shares during the last quarter. TimesSquare Capital Management LLC raised its position in Warby Parker by 149.4% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company's stock worth $22,970,000 after buying an additional 1,011,030 shares during the last quarter. Renaissance Technologies LLC raised its position in Warby Parker by 44.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company's stock worth $25,192,000 after buying an additional 481,900 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Warby Parker by 1,013.4% during the 2nd quarter. Marshall Wace LLP now owns 1,422,940 shares of the company's stock worth $22,852,000 after buying 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.