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Warby Parker (NYSE:WRBY - Get Rating) had its price target cut by stock analysts at The Goldman Sachs Group from $18.00 to $16.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 41.34% from the stock's previous close.

Several other brokerages have also recently weighed in on WRBY. Citigroup lowered their price target on shares of Warby Parker from $41.00 to $29.00 and set a "na" rating for the company in a research report on Tuesday, May 17th. Evercore ISI began coverage on shares of Warby Parker in a research report on Friday, March 18th. They set a "hold" rating and a $39.00 target price for the company. Morgan Stanley decreased their target price on shares of Warby Parker from $57.00 to $24.00 in a research report on Friday, March 18th. Cowen decreased their target price on shares of Warby Parker to $23.00 and set a "na" rating for the company in a research report on Tuesday, May 17th. Finally, Stifel Nicolaus began coverage on shares of Warby Parker in a research report on Wednesday, March 30th. They set a "hold" rating and a $36.00 target price for the company. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.80.

Shares of WRBY traded down $0.26 during mid-day trading on Wednesday, hitting $11.32. The company's stock had a trading volume of 6,110 shares, compared to its average volume of 2,133,855. The company's 50-day moving average is $15.29 and its 200-day moving average is $26.09. Warby Parker has a 52-week low of $10.86 and a 52-week high of $60.30.

Warby Parker (NYSE:WRBY - Get Rating) last announced its quarterly earnings results on Monday, May 16th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.29). The firm had revenue of $153.20 million for the quarter, compared to analysts' expectations of $154.08 million. Warby Parker's revenue was up 10.2% on a year-over-year basis. Equities research analysts forecast that Warby Parker will post -0.73 EPS for the current year.

In other news, CFO Steven Clive Miller sold 7,053 shares of the stock in a transaction on Monday, June 13th. The shares were sold at an average price of $13.42, for a total value of $94,651.26. Following the sale, the chief financial officer now owns 158,369 shares in the company, valued at $2,125,311.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Abraham Gilboa sold 5,224 shares of the stock in a transaction on Friday, June 10th. The stock was sold at an average price of $14.64, for a total transaction of $76,479.36. Following the completion of the sale, the chief executive officer now owns 235 shares in the company, valued at approximately $3,440.40. The disclosure for this sale can be found here. Insiders sold 17,361 shares of company stock worth $245,560 in the last quarter. Company insiders own 25.36% of the company's stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Durable Capital Partners LP grew its position in Warby Parker by 42.3% during the first quarter. Durable Capital Partners LP now owns 14,808,493 shares of the company's stock valued at $500,675,000 after buying an additional 4,405,581 shares during the period. D1 Capital Partners L.P. grew its position in Warby Parker by 64.4% during the fourth quarter. D1 Capital Partners L.P. now owns 13,404,023 shares of the company's stock valued at $624,091,000 after buying an additional 5,250,941 shares during the period. Baillie Gifford & Co. grew its position in Warby Parker by 11.0% during the first quarter. Baillie Gifford & Co. now owns 6,263,170 shares of the company's stock valued at $211,759,000 after buying an additional 620,709 shares during the period. Capital Research Global Investors grew its position in Warby Parker by 17.7% during the first quarter. Capital Research Global Investors now owns 5,372,629 shares of the company's stock valued at $181,649,000 after buying an additional 809,360 shares during the period. Finally, Vanguard Group Inc. grew its position in Warby Parker by 0.3% during the first quarter. Vanguard Group Inc. now owns 4,499,290 shares of the company's stock valued at $152,121,000 after buying an additional 14,620 shares during the period. Institutional investors own 98.59% of the company's stock.

About Warby Parker (Get Rating)

Warby Parker Inc provides eyewear products. It offers eyeglasses, sunglasses, light-responsive lenses, blue-light-filtering lenses, and contact lenses, as well as accessories, including cases, lenses kit with anti-fog spray, pouches, and anti-fog lens spray. The company also offers eye exams and vision tests directly to consumers through its retail stores, website, and mobile apps.

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