Warby Parker Inc. (NYSE:WRBY) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Warby Parker Inc. (NYSE:WRBY - Get Free Report) have been given an average rating of "Moderate Buy" by the eighteen research firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $22.88.

WRBY has been the topic of a number of research reports. Roth Capital reaffirmed a "neutral" rating and issued a $21.00 price objective (up previously from $18.00) on shares of Warby Parker in a research note on Thursday, May 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $25.00 price objective (up previously from $20.00) on shares of Warby Parker in a research report on Thursday, May 29th. TD Securities increased their price target on Warby Parker from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus increased their price target on Warby Parker from $18.00 to $21.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. Finally, Cowen restated a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st.

Insider Activity

In other Warby Parker news, Director Youngme E. Moon sold 33,073 shares of Warby Parker stock in a transaction that occurred 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 transaction, the director directly owned 53,869 shares of the company's stock, valued at approximately $1,071,993.10. This trade represents a 38.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 18.24% of the company's stock.

Institutional Investors Weigh In On Warby Parker

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp lifted its position in Warby Parker by 7.5% in the fourth quarter. Northern Trust Corp now owns 811,038 shares of the company's stock worth $19,635,000 after buying an additional 56,674 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Warby Parker during the first quarter worth about $602,000. Raymond James Financial Inc. acquired a new position in Warby Parker in the fourth quarter valued at approximately $8,272,000. Jones Financial Companies Lllp increased its position in shares of Warby Parker by 205.6% in the fourth quarter. Jones Financial Companies Lllp now owns 1,528 shares of the company's stock valued at $37,000 after buying an additional 1,028 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Warby Parker by 122.8% in the fourth quarter. Bank of America Corp DE now owns 391,868 shares of the company's stock valued at $9,487,000 after buying an additional 215,959 shares in the last quarter. Hedge funds and other institutional investors own 93.24% of the company's stock.

Warby Parker Price Performance

Shares of NYSE:WRBY traded up $1.05 during trading on Friday, hitting $22.42. 3,277,990 shares of the company's stock were exchanged, compared to its average volume of 1,987,813. The business's 50-day simple moving average is $20.21 and its 200 day simple moving average is $21.33. Warby Parker has a 52-week low of $12.46 and a 52-week high of $28.68. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -186.83 and a beta of 2.09.

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.