Loop Capital has upgraded its rating on Warby Parker (WRBY, Financial) from Hold to Buy, maintaining a price target of $27. Despite a substantial 41% decline in the company's share price so far this year, Loop Capital views this downturn as an overreaction, suggesting it offers an attractive entry point for investors.
The firm's analysis indicates that Warby Parker's demand remained robust in the first quarter. Given the essential nature of its vision correction offerings, the company is expected to perform well even during economic slowdowns. Additionally, Warby Parker's strong value proposition and potential to capture more market share further bolster its outlook.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 14 analysts, the average target price for Warby Parker Inc (WRBY, Financial) is $25.00 with a high estimate of $30.00 and a low estimate of $18.00. The average target implies an upside of 75.32% from the current price of $14.26. More detailed estimate data can be found on the Warby Parker Inc (WRBY) Forecast page.
Based on the consensus recommendation from 16 brokerage firms, Warby Parker Inc's (WRBY, Financial) average brokerage recommendation is currently 2.4, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Warby Parker Inc (WRBY, Financial) in one year is $18.41, suggesting a upside of 29.1% from the current price of $14.26. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Warby Parker Inc (WRBY) Summary page.
