Warby Parker's (WRBY) Market Perform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Warby Parker (NYSE:WRBY - Free Report) in a research report released on Thursday morning,Benzinga reports.

A number of other analysts have also recently issued reports on the stock. Citigroup reissued a "neutral" rating and issued a $22.00 price objective (up from $17.00) on shares of Warby Parker in a research note on Wednesday, May 21st. TD Securities raised their target price on shares of Warby Parker from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Stifel Nicolaus raised their target price on shares of Warby Parker from $18.00 to $21.00 and gave the company a "hold" rating in a research note on Wednesday, May 21st. 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. Finally, Loop Capital reaffirmed a "buy" rating on shares of Warby Parker in a research note on Wednesday, May 21st. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $22.88.

Warby Parker Stock Performance

Shares of NYSE WRBY traded down $0.05 during midday trading on Thursday, reaching $22.23. The stock had a trading volume of 1,819,219 shares, compared to its average volume of 1,995,069. The stock has a 50-day moving average of $20.44 and a 200-day moving average of $21.32. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -185.21 and a beta of 2.09. Warby Parker has a 12-month low of $12.46 and a 12-month high of $28.68.

Insider Activity

In other news, Director Youngme E. Moon sold 33,073 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $19.90, for a total value of $658,152.70. Following the completion of the sale, the director owned 53,869 shares in the company, valued at approximately $1,071,993.10. This trade represents a 38.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 18.24% of the company's stock.

Institutional Investors Weigh In On Warby Parker

Institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in shares of Warby Parker by 700.0% in the 4th quarter. NewEdge Advisors LLC now owns 1,200 shares of the company's stock worth $29,000 after acquiring an additional 1,050 shares during the last quarter. New York State Teachers Retirement System bought a new stake in Warby Parker during the 1st quarter valued at about $27,000. Jones Financial Companies Lllp lifted its holdings in Warby Parker by 205.6% during the 4th 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. Comerica Bank lifted its holdings in Warby Parker by 153.1% during the 4th quarter. Comerica Bank now owns 2,291 shares of the company's stock valued at $55,000 after buying an additional 1,386 shares in the last quarter. Finally, Anderson Financial Strategies LLC bought a new stake in Warby Parker during the 4th quarter valued at about $69,000. Institutional investors own 93.24% of the company's stock.

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.