Telsey Advisory Group Forecasts Strong Price Appreciation for Warby Parker (NYSE:WRBY) Stock

Warby Parker (NYSE:WRBY) had its price target boosted by analysts at Telsey Advisory Group from $22.00 to $26.00 in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm currently has an “outperform” rating on the stock. Telsey Advisory Group’s target price points to a potential upside of 13.94% from the stock’s current price.

A number of other research firms have also recently commented on WRBY. The Goldman Sachs Group upgraded shares of Warby Parker from a “neutral” rating to a “buy” rating and increased their price target for the company from $15.00 to $18.00 in a report on Monday, October 21st. Piper Sandler increased their price target on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. JMP Securities upgraded shares of Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research note on Friday, August 23rd. Robert W. Baird boosted their price target on shares of Warby Parker from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Stifel Nicolaus upped their target price on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Warby Parker currently has an average rating of “Moderate Buy” and an average target price of $18.82.

Warby Parker Stock Up 6.4 %

Shares of WRBY opened at $22.82 on Tuesday. Warby Parker has a twelve month low of $10.28 and a twelve month high of $22.94. The stock has a market capitalization of $2.32 billion, a P/E ratio of -84.52 and a beta of 1.80. The firm has a fifty day simple moving average of $16.82 and a two-hundred day simple moving average of $15.97.

Insider Transactions at Warby Parker

In related news, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $13.89, for a total transaction of $694,500.00. Following the sale, the chief executive officer now directly owns 12,177 shares in the company, valued at $169,138.53. This trade represents a 80.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Clive Miller sold 6,763 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the sale, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at $2,467,083.20. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,178 shares of company stock worth $1,339,901 in the last three months. Insiders own 26.55% of the company’s stock.

Institutional Investors Weigh In On Warby Parker

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Warby Parker by 2.6% during the first quarter. Vanguard Group Inc. now owns 8,677,106 shares of the company’s stock valued at $118,095,000 after buying an additional 219,120 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Warby Parker by 3.2% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,555,705 shares of the company’s stock valued at $41,735,000 after purchasing an additional 78,295 shares during the period. State Street Corp raised its stake in Warby Parker by 3.2% during the 3rd quarter. State Street Corp now owns 2,209,025 shares of the company’s stock worth $36,073,000 after acquiring an additional 69,108 shares during the period. Geode Capital Management LLC lifted its holdings in Warby Parker by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,970,620 shares of the company’s stock worth $32,187,000 after purchasing an additional 144,623 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Warby Parker by 13.6% during the third quarter. Jennison Associates LLC now owns 1,939,116 shares of the company’s stock valued at $31,666,000 after buying an additional 232,530 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.