Warby Parker (NYSE:WRBY) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Warby Parker (NYSE:WRBY) released its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03), Zacks reports. Warby Parker had a negative net margin of 1.12% and a negative return on equity of 0.79%. The business had revenue of $221.68 million during the quarter, compared to analyst estimates of $224.49 million. During the same quarter last year, the company posted ($0.03) earnings per share. The company’s revenue was up 15.2% on a year-over-year basis. Warby Parker updated its FY 2025 guidance to EPS.

Warby Parker Stock Down 11.2%

Shares of WRBY stock traded down $2.13 during trading hours on Thursday, reaching $16.92. The company’s stock had a trading volume of 7,758,571 shares, compared to its average volume of 2,023,808. The firm’s 50 day simple moving average is $24.37 and its 200-day simple moving average is $22.54. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -241.68 and a beta of 2.06. Warby Parker has a fifty-two week low of $13.63 and a fifty-two week high of $29.73.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of Warby Parker from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Roth Capital set a $24.00 price target on Warby Parker and gave the stock a “neutral” rating in a research report on Tuesday, August 5th. Stifel Nicolaus increased their price target on Warby Parker from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, August 8th. Cowen reissued a “buy” rating on shares of Warby Parker in a report on Friday, August 8th. Finally, UBS Group reissued a “neutral” rating and set a $23.00 target price (up from $20.00) on shares of Warby Parker in a report on Friday, August 8th. Ten analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Warby Parker has a consensus rating of “Hold” and a consensus price target of $25.20.

Insider Activity at Warby Parker

In other news, Director Joel E. Cutler sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $26.75, for a total value of $936,250.00. Following the sale, the director directly owned 19,932 shares in the company, valued at approximately $533,181. This trade represents a 63.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa Briggs sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $23.56, for a total transaction of $141,360.00. Following the completion of the sale, the director owned 44,879 shares in the company, valued at approximately $1,057,349.24. The trade was a 11.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 141,000 shares of company stock valued at $3,709,521 over the last ninety days. 18.24% of the stock is owned by corporate insiders.

Institutional Trading of Warby Parker

A number of hedge funds have recently added to or reduced their stakes in WRBY. State of Tennessee Department of Treasury acquired a new stake in Warby Parker in the second quarter valued at approximately $126,000. Headlands Technologies LLC boosted its holdings in shares of Warby Parker by 981.3% during the 2nd quarter. Headlands Technologies LLC now owns 6,077 shares of the company’s stock valued at $133,000 after acquiring an additional 5,515 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Warby Parker during the 2nd quarter valued at $227,000. Tower Research Capital LLC TRC boosted its stake in shares of Warby Parker by 36.9% during the second quarter. Tower Research Capital LLC TRC now owns 10,430 shares of the company’s stock valued at $229,000 after purchasing an additional 2,810 shares in the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Warby Parker during the second quarter valued at about $232,000. 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.