AAL

Analyst: Warby Parker Has Ample Growth Potential

Piper Sandler also weighed in with bullish commentary

Deputy Editor
Aug 23, 2024 at 9:05 AM
facebook X logo linkedin


The shares of eyeglasses retailer Warby Parker Inc (NYSE:WRBY) sport a 6.9% pre-market lead, after a bull note from JMP Securities. The analyst upgraded WRBY to "outperform" from "market perform" and set a $20 price target, citing management's constructive commentary as a catalyst for potential growth in upcoming quarters.

In addition, Piper Sandler assumed coverage with an "overweigh" rating and $18 price objective. There's room for more bull notes to roll in, with eight of 13 covering brokerages still recommending a tepid "hold" on Warby Parker stock. 

Short sellers are building their positions, with short interest up 2.7% in the most recent reporting period. The 11.24 million shares sold short make up 12% of the security's available float, and would take almost eight days to cover at WRBY's average daily pace of trading. 

Looking to open around $14.80, Warby Parker stock recently bounced off the 320-day moving average. Should these premarket gains hold, the equity is poised to cross back above its year-to-date breakeven mark. Longer term, WRBY is up 12.3% in the last 12 months.

 

 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.