Ready to Jump After Recent Trade: Warby Parker Inc. (WRBY)

Warby Parker Inc. (NYSE: WRBY) stock fell -1.48% on Friday to $12.61 against a previous-day closing price of $12.80. With 1.05 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.03 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $13.22 whereas the lowest price it dropped to was $12.60. The 52-week range on WRBY shows that it touched its highest point at $60.30 and its lowest point at $10.86 during that stretch. It currently has a 1-year price target of $20.50.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of WRBY was up-trending over the past week, with a rise of 0.80%, but this was up by 12.79% over a month. Three-month performance dropped to -47.55% while six-month performance fell -65.07%. A look at the trailing 12-month EPS for WRBY yields -2.06 with Next year EPS estimates of 0.18. For the next quarter, that number is -0.02. This implies an EPS growth rate of -168.00% for this year and 201.67% for next year.

Float and Shares Shorts:

At present, 114.10 million WRBY shares are outstanding with a float of 88.33 million shares on hand for trading. On Jul 14, 2022, short shares totaled 22.42 million, which was 19.51% higher than short shares on Jun 14, 2022. In addition to Mr. Neil Harris Blumenthal as the firm’s Co-Founder, Pres, Co-CEO & Co-Chair, Mr. David Abraham Gilboa serves as its Co-Founder, Co-CEO & Co-Chair.

Institutional Ownership:

Through their ownership of 108.26% of WRBY’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 57.43% of WRBY, in contrast to 49.17% held by mutual funds. Shares owned by individuals account for 47.53%. As the largest shareholder in WRBY with 20.94% of the stake, T. Rowe Price Associates, Inc. holds 19,949,381 shares worth 19,949,381. A second-largest stockholder of WRBY, D1 Capital Partners LP, holds 14,944,023 shares, controlling over 15.68% of the firm’s shares. Durable Capital Partners LP is the third largest shareholder in WRBY, holding 14,808,493 shares or 15.54% stake. With a 7.11% stake in WRBY, the T Rowe Price New Horizons Fund is the largest stakeholder. A total of 6,772,851 shares are owned by the mutual fund manager. The Fidelity Blue Chip Growth Fund, which owns about 4.34% of WRBY stock, is the second-largest Mutual Fund holder. It holds 4,133,234 shares valued at 46.54 million. Scottish Mortgage Investment Trus holds 3.96% of the stake in WRBY, owning 3,776,197 shares worth 42.52 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for WRBY since 11 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 5 believe that the stock is worth HOLDING, 2 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With WRBY analysts setting a high price target of $30.00 and a low target of $11.00, the average target price over the next 12 months is $19.90. Based on these targets, WRBY could surge 137.91% to reach the target high and fall by -12.77% to reach the target low. Reaching the average price target will result in a growth of 57.81% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. WRBY will report FY 2022 earnings on 03/16/2023. Analysts have provided yearly estimates in a range of $0.12 being high and -$0.87 being low. For WRBY, this leads to a yearly average estimate of -$0.07. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Warby Parker Inc. surprised analysts by -$0.04 when it reported -$0.04 EPS against a consensus estimate of $0.00. The surprise factor in the prior quarter was $0.01. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.04. The average estimate for the next quarter is thus -$0.02.

Summary of Insider Activity:

Insiders traded WRBY stock several times over the past three months with 11 Buys and 4 Sells. In these transactions, 105,426 shares were bought while 22,585 shares were sold. The number of buy transactions has increased to 169 while that of sell transactions has risen to 110 over the past year. The total number of shares bought during that period was 14,795,063 while 19,432,155 shares were sold.

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