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

Warby Parker (NYSE:WRBY) had its target price lifted by stock analysts at UBS Group from $20.00 to $23.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price would indicate a potential downside of 7.15% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on WRBY. Telsey Advisory Group reiterated an “outperform” rating and set a $28.00 price target on shares of Warby Parker in a report on Thursday. Citigroup reissued a “sell” rating and set a $23.00 target price (up previously from $19.00) on shares of Warby Parker in a research note on Wednesday, February 5th. Roth Capital raised Warby Parker to a “strong-buy” rating in a research note on Monday, February 24th. Piper Sandler increased their target price on Warby Parker from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Evercore ISI reissued an “in-line” rating and set a $23.00 target price on shares of Warby Parker in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.43.

Warby Parker Stock Up 1.9 %

Shares of NYSE:WRBY opened at $24.77 on Friday. The business has a fifty day moving average of $25.61 and a two-hundred day moving average of $20.68. The stock has a market cap of $2.52 billion, a P/E ratio of -91.75 and a beta of 1.90. Warby Parker has a 52-week low of $11.35 and a 52-week high of $28.68.

Insider Buying and Selling

In other Warby Parker news, CFO Steven Clive Miller sold 7,016 shares of Warby Parker stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $23.85, for a total transaction of $167,331.60. Following the transaction, the chief financial officer now owns 182,130 shares of the company’s stock, valued at $4,343,800.50. The trade was a 3.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Neil Harris Blumenthal sold 50,000 shares of Warby Parker stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $27.61, for a total value of $1,380,500.00. Following the transaction, the chief executive officer now directly owns 12,177 shares in the company, valued at approximately $336,206.97. This trade represents a 80.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 608,032 shares of company stock worth $15,188,364 over the last 90 days. 26.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WRBY. Janney Montgomery Scott LLC increased its position in Warby Parker by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 47,908 shares of the company’s stock worth $782,000 after buying an additional 1,556 shares during the period. AIA Group Ltd increased its position in Warby Parker by 12.2% during the third quarter. AIA Group Ltd now owns 182,573 shares of the company’s stock worth $2,981,000 after buying an additional 19,923 shares during the period. TimesSquare Capital Management LLC increased its position in Warby Parker by 12.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,856,370 shares of the company’s stock worth $30,315,000 after buying an additional 211,050 shares during the period. Los Angeles Capital Management LLC acquired a new position in Warby Parker during the third quarter worth approximately $372,000. Finally, Natixis Advisors LLC increased its position in Warby Parker by 4.7% during the third quarter. Natixis Advisors LLC now owns 466,413 shares of the company’s stock worth $7,617,000 after buying an additional 21,121 shares during the period. Institutional investors and hedge funds 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.