Brokerages Set Warby Parker Inc. (NYSE:WRBY) Price Target at $22.88

Warby Parker Inc. (NYSE:WRBY - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $22.88.

Several equities research analysts have commented on the stock. Robert W. Baird boosted their price target on shares of Warby Parker from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, February 28th. UBS Group cut their target price on shares of Warby Parker from $23.00 to $20.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Piper Sandler restated an "overweight" rating and issued a $25.00 price target (up previously from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. JMP Securities dropped their price target on Warby Parker from $30.00 to $22.00 and set a "market outperform" rating on the stock in a report on Monday, April 14th. Finally, Stifel Nicolaus raised their price objective on Warby Parker from $18.00 to $21.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st.

Insider Buying and Selling at Warby Parker

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of Warby Parker stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total transaction of $658,152.70. Following the completion of the sale, the director now owns 53,869 shares of the company's stock, valued at $1,071,993.10. This trade represents a 38.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 18.24% of the company's stock.

Institutional Trading of Warby Parker

Hedge funds and other institutional investors have recently modified their holdings of the company. Northern Trust Corp grew its stake in Warby Parker by 7.5% in the fourth quarter. Northern Trust Corp now owns 811,038 shares of the company's stock valued at $19,635,000 after purchasing an additional 56,674 shares in the last quarter. Shaker Investments LLC OH acquired a new position in Warby Parker in the fourth quarter worth approximately $279,000. Raymond James Financial Inc. bought a new position in Warby Parker during the fourth quarter valued at approximately $8,272,000. Jones Financial Companies Lllp raised its position in Warby Parker by 205.6% during the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after acquiring an additional 1,028 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Warby Parker by 122.8% in the fourth quarter. Bank of America Corp DE now owns 391,868 shares of the company's stock worth $9,487,000 after acquiring an additional 215,959 shares in the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

Warby Parker Stock Performance

Shares of WRBY stock traded down $0.42 during mid-day trading on Wednesday, hitting $22.04. 2,235,503 shares of the stock traded hands, compared to its average volume of 1,948,495. Warby Parker has a twelve month low of $12.46 and a twelve month high of $28.68. The company's 50-day simple moving average is $17.91 and its 200-day simple moving average is $21.55. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of -81.63 and a beta of 2.10.

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.