Warby Parker (NYSE:WRBY) Price Target Raised to $28.00

Key Points

• Telsey Advisory Group has raised Warby Parker's price target from $22.00 to $28.00, indicating a potential upside of 17.13% from the previous close.
• Current consensus among analysts shows a rating of "Moderate Buy" with an average price target of $23.13, while multiple firms have varying ratings ranging from 'buy' to 'hold'.
• Insider transactions reveal CEO Neil Harris Blumenthal sold 49,600 shares at an average price of $24.21, significantly decreasing his holdings in the company.

Warby Parker (NYSE:WRBY - Get Free Report) had its price objective lifted by Telsey Advisory Group from $22.00 to $28.00 in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has an "outperform" rating on the stock. Telsey Advisory Group's price objective would suggest a potential upside of 14.66% from the stock's current price.

Other equities analysts have also issued research reports about the company. Citizens Jmp lowered Warby Parker from an "outperform" rating to a "market perform" rating in a research report on Thursday, July 10th. Citigroup reissued a "neutral" rating and issued a $22.00 target price (up from $17.00) on shares of Warby Parker in a research report on Wednesday, May 21st. Loop Capital restated a "buy" rating on shares of Warby Parker in a research report on Wednesday, May 21st. JMP Securities reiterated a "market perform" rating on shares of Warby Parker in a research report on Thursday, July 10th. Finally, Roth Capital restated a "neutral" rating and issued a $21.00 target price (up previously from $18.00) on shares of Warby Parker in a report on Thursday, May 22nd. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $23.13.

Warby Parker Price Performance

Shares of Warby Parker stock traded down $0.07 during trading on Friday, hitting $24.42. The stock had a trading volume of 991,325 shares, compared to its average volume of 2,236,315. The business has a fifty day moving average of $22.38 and a two-hundred day moving average of $21.06. Warby Parker has a fifty-two week low of $12.46 and a fifty-two week high of $28.68. The firm has a market cap of $2.55 billion, a P/E ratio of -203.50 and a beta of 2.09.

Insider Activity at Warby Parker

In other Warby Parker news, CEO Neil Harris Blumenthal sold 49,600 shares of Warby Parker stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $24.21, for a total value of $1,200,816.00. Following the transaction, the chief executive officer directly owned 28,347 shares of the company's stock, valued at $686,280.87. The trade was a 63.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Youngme E. Moon sold 33,073 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was 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 in the company, valued at $1,071,993.10. This trade represents a 38.04% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,073 shares of company stock valued at $1,868,573. 18.24% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Warby Parker

A number of institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in shares of Warby Parker during the 1st quarter worth approximately $27,000. Jennison Associates LLC raised its stake in shares of Warby Parker by 23.7% in the 1st quarter. Jennison Associates LLC now owns 2,174,158 shares of the company's stock valued at $39,635,000 after buying an additional 416,797 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Warby Parker during the 1st quarter valued at about $2,029,000. Northern Trust Corp increased 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 acquiring an additional 56,674 shares during the period. Finally, SG Americas Securities LLC bought a new position in Warby Parker during the first quarter worth about $602,000. 93.24% of the stock is owned by institutional investors and hedge funds.

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.