Warby Parker Analysts Set $24.53 Price Target Amid Mixed Ratings

Warby Parker Inc. (NYSE: WRBY) has received a consensus price target of $24.53 from analysts, reflecting a mixed sentiment among investment firms regarding the company’s stock. According to data from Marketbeat, the average recommendation stands at “Hold,” based on assessments from nineteen brokerages covering the eyewear retailer. Of these, ten analysts have issued hold recommendations while nine have opted for buy ratings.

Recent reports from major financial institutions indicate shifting perspectives on Warby Parker’s stock. On October 6, Goldman Sachs Group raised its price target for Warby Parker from $27.00 to $31.00, classifying it as a “buy.” Similarly, the Telsey Advisory Group reiterated an “outperform” rating, setting a target price of $24.00 in a report dated November 18. In contrast, UBS Group downgraded its price objective from $23.00 to $20.00, assigning a “neutral” rating in a note released on November 7. Notably, Zacks Research upgraded the stock from a “strong sell” to a “hold” rating on September 4.

Institutional Investor Activity and Stock Performance

Institutional investors currently hold 93.24% of Warby Parker’s stock. Recent trading activity reflects this trend, with several large firms entering or expanding their positions. For instance, Harbor Capital Advisors Inc. acquired a new stake valued at approximately $1,219,000 in the second quarter, while Kings Path Partners LLC invested around $300,000 during the same period. Ieq Capital LLC significantly increased its position by 113.4% in the first quarter, now owning 29,643 shares worth around $540,000.

On the trading floor, shares of Warby Parker opened at $18.79 on Wednesday, reflecting a 2.0% increase. The company’s market capitalization stands at $1.99 billion. Warby Parker has shown volatility, with a 50-day moving average of $20.65 and a 200-day moving average of $22.83. The stock has fluctuated between a one-year low of $13.63 and a high of $29.73.

Quarterly Earnings Results

Warby Parker recently reported its quarterly earnings on November 6. The company posted earnings per share (EPS) of $0.06, falling short of the analysts’ consensus estimate of $0.09 by $0.03. Revenue for the quarter reached $221.68 million, which was below the forecast of $224.49 million. In comparison to the same quarter last year, when the company recorded an EPS of ($0.03), the current earnings reflect a notable improvement. Revenue increased by 15.2% year-over-year, demonstrating the company’s growth trajectory despite recent challenges.

Analysts project that Warby Parker will report an EPS of ($0.12) for the current year, indicating ongoing fluctuations as the company navigates market conditions.

Founded in 2010, Warby Parker Inc. offers a range of eyewear products across the United States and Canada, including eyeglasses, sunglasses, and contact lenses. The company also provides accessories through its retail stores and digital platforms, making it a prominent player in the eyewear industry.