Deutsche Bank Aktiengesellschaft Upgrades Warby Parker (NYSE:WRBY) to “Buy”

Deutsche Bank Aktiengesellschaft upgraded shares of Warby Parker (NYSE:WRBY) from a neutral rating to a buy rating in a research report sent to investors on Monday, Benzinga reports. They currently have $18.00 price target on the stock, up from their previous price target of $15.00.

Other equities research analysts also recently issued research reports about the company. Piper Sandler began coverage on Warby Parker in a report on Friday, August 23rd. They issued an “overweight” rating and a $18.00 price objective for the company. Stifel Nicolaus upped their price objective on Warby Parker from $14.00 to $15.00 and gave the company a “hold” rating in a report on Friday, August 9th. Telsey Advisory Group reiterated an “outperform” rating and issued a $19.00 price objective on shares of Warby Parker in a report on Thursday, August 8th. JMP Securities upgraded Warby Parker from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a report on Friday, August 23rd. Finally, Loop Capital upped their price objective on Warby Parker from $15.00 to $16.00 and gave the company a “hold” rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Warby Parker currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Warby Parker Stock Down 1.5 %

WRBY stock opened at $17.16 on Monday. The company has a market cap of $1.73 billion, a P/E ratio of -44.00 and a beta of 1.82. Warby Parker has a twelve month low of $9.83 and a twelve month high of $18.37. The business has a fifty day moving average of $15.22 and a 200-day moving average of $15.17.

Warby Parker (NYSE:WRBY) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The business had revenue of $188.22 million during the quarter, compared to the consensus estimate of $186.89 million. Warby Parker had a negative return on equity of 11.09% and a negative net margin of 6.38%. As a group, equities research analysts anticipate that Warby Parker will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Warby Parker

In other news, CFO Steven Clive Miller sold 6,763 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total transaction of $94,005.70. Following the completion of the transaction, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at $2,467,083.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Neil Harris Blumenthal sold 50,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $13.89, for a total transaction of $694,500.00. Following the completion of the transaction, the chief executive officer now directly owns 12,177 shares of the company’s stock, valued at $169,138.53. This represents a 0.00 % decrease in their ownership of the stock. 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 company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $13.90, for a total value of $94,005.70. Following the transaction, the chief financial officer now directly owns 177,488 shares of the company’s stock, valued at $2,467,083.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 99,178 shares of company stock valued at $1,339,901. Company insiders own 26.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WRBY. Vaughan Nelson Investment Management L.P. boosted its position in Warby Parker by 113.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,477,410 shares of the company’s stock valued at $39,787,000 after purchasing an additional 1,315,672 shares during the last quarter. Marshall Wace LLP boosted its position in Warby Parker by 1,013.4% during the second quarter. Marshall Wace LLP now owns 1,422,940 shares of the company’s stock valued at $22,852,000 after purchasing an additional 1,295,136 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in Warby Parker by 149.4% during the first quarter. TimesSquare Capital Management LLC now owns 1,687,750 shares of the company’s stock valued at $22,970,000 after purchasing an additional 1,011,030 shares during the last quarter. Vanguard Group Inc. boosted its position in Warby Parker by 7.7% during the fourth quarter. Vanguard Group Inc. now owns 8,457,986 shares of the company’s stock valued at $119,258,000 after purchasing an additional 607,352 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Warby Parker by 44.3% during the second quarter. Renaissance Technologies LLC now owns 1,568,600 shares of the company’s stock valued at $25,192,000 after purchasing an additional 481,900 shares during the last quarter. 93.24% of the stock is owned by institutional investors and hedge funds.

About Warby Parker

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.