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Neil Blumenthal, Co-Chief Executive Officer of Warby Parker Inc. (NYSE:WRBY), recently sold shares of the company’s Class A Common Stock, according to a filing with the Securities and Exchange Commission. The transactions, executed on March 3 and March 4, involved the sale of 150,000 shares at prices ranging from $24.37 to $25.07, totaling approximately $3.66 million. The sales come as WRBY shares have shown remarkable performance, delivering a 92% return over the past year, though InvestingPro analysis indicates the stock is currently trading above its Fair Value.
Additionally, Blumenthal sold another 27,967 shares at a price of $23.52, generating $657,783. These sales were conducted under a pre-established Rule 10b5-1 trading plan. Following these transactions, Blumenthal’s direct ownership stands at 23,961 shares. The company, currently valued at $2.81 billion, has demonstrated strong revenue growth of 15.16% over the last twelve months.
The filing also detailed other transactions, including acquisitions and conversions of stock, but these did not involve any cash transactions. For deeper insights into WRBY’s valuation metrics and 12 additional exclusive ProTips, visit InvestingPro, where you’ll find comprehensive analysis in our Pro Research Report.
In other recent news, Warby Parker Inc. reported a notable 17.8% year-over-year increase in fourth-quarter 2024 revenue, reaching $190.6 million, surpassing both Stifel’s projection of $185.7 million and the consensus estimate of $187.6 million. Despite this revenue success, the company’s earnings per share (EPS) of -$0.06 missed the forecasted $0.03. Warby Parker’s adjusted EBITDA for the quarter was $13.8 million, aligning closely with expectations. Looking ahead, the company has projected fiscal year 2025 revenues between $878 million and $893 million, representing a 14% to 16% growth, exceeding both Stifel’s and the Street’s forecasts.
Analysts have responded to these developments with various adjustments to Warby Parker’s stock price targets. Stifel raised its price target to $25 while maintaining a Hold rating, citing the company’s strategic execution despite valuation concerns. UBS increased its price target to $23, retaining a Neutral stance, highlighting Warby Parker’s growth in eCommerce sales and active customer base. JMP Securities went further, raising the price target to $30 and maintaining a Market Outperform rating, pointing to the company’s strategic partnerships and market opportunities.
Warby Parker’s strategic initiatives include a new partnership with Target (NYSE:TGT), where they plan to open five shop-in-shops, aiming to expand their customer base. The company also anticipates opening 45 new stores in 2025, with a focus on increasing both retail and e-commerce growth. Despite challenges such as potential tariff impacts, analysts like those at Evercore ISI see continued acceleration in active customer growth and an expansion of EBITDA margins, adjusting their price target to $24 while maintaining an In Line rating.
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