Piper Sandler Issues Positive Forecast for Warby Parker (NYSE:WRBY) Stock Price

Warby Parker (NYSE:WRBY - Free Report) had its price target boosted by Piper Sandler from $18.00 to $22.00 in a report released on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research firms have also weighed in on WRBY. William Blair raised Warby Parker from a "market perform" rating to an "outperform" rating in a research note on Thursday. JMP Securities upgraded Warby Parker from a "market perform" rating to an "outperform" rating and set a $20.00 price objective for the company in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker from a "neutral" rating to a "buy" rating and raised their target price for the stock from $15.00 to $18.00 in a report on Monday, October 21st. Stifel Nicolaus upped 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. Finally, BTIG Research increased their price target on shares of Warby Parker from $18.00 to $20.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $18.18.

Warby Parker Stock Up 1.0 %

NYSE:WRBY traded up $0.20 during midday trading on Friday, hitting $19.51. The company had a trading volume of 2,526,165 shares, compared to its average volume of 1,414,508. The stock's fifty day moving average price is $15.82 and its 200-day moving average price is $15.50. Warby Parker has a 52-week low of $9.83 and a 52-week high of $19.93. The company has a market capitalization of $1.96 billion, a PE ratio of -49.79 and a beta of 1.80.

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

Insider Buying and Selling at Warby Parker

In other news, Director Bradley E. Singer purchased 50,000 shares of Warby Parker 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 purchase, the director now directly owns 100,000 shares in the company, valued at approximately $1,300,000. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Neil Harris Blumenthal sold 27,143 shares of the company's stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $13.00, for a total value of $352,859.00. Following the sale, the chief executive officer now owns 12,177 shares in the company, valued at $158,301. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bradley E. Singer acquired 50,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $13.00 per share, with a total value of $650,000.00. Following the purchase, the director now directly owns 100,000 shares of the company's stock, valued at $1,300,000. The trade was a 100.00 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 99,178 shares of company stock valued at $1,339,901. 26.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WRBY. Janney Montgomery Scott LLC boosted its stake in Warby Parker by 302.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 48,245 shares of the company's stock valued at $657,000 after purchasing an additional 36,245 shares during the last quarter. SG Americas Securities LLC bought a new stake in Warby Parker in the 1st quarter worth about $176,000. TimesSquare Capital Management LLC raised its position in Warby Parker by 149.4% in 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. Russell Investments Group Ltd. lifted its stake in Warby Parker by 37.1% during the 1st quarter. Russell Investments Group Ltd. now owns 225,338 shares of the company's stock valued at $3,067,000 after acquiring an additional 61,004 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Warby Parker by 10.2% during the 1st quarter. ProShare Advisors LLC now owns 15,470 shares of the company's stock valued at $211,000 after acquiring an additional 1,434 shares during the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

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.