Warby Parker Has A Clear Vision of Its Future

Summary

• Warby Parker (WRBY) shows strong technical indicators with 100% buy signals, a 103.06% gain in the last year, and a Trend Seeker buy signal.

• The stock has seen consistent price appreciation, trading above its 20, 50, and 100-day moving averages, and recently hit 13 new highs in the last month.

• Analysts are optimistic with 10 strong buy and 5 hold ratings, projecting significant revenue and earnings growth over the next two years.

• Despite high volatility, Warby Parker is recommended for its potential high returns, but investors should follow strict risk management strategies.

The Chart of the Day belongs to ophthalmic goods company Warby Parker (WRBY) . I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 9/27 the stock gained 32.50%.

WRBY Price vs Daily Moving Averages

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. In addition, the company offers eye exams and vision tests. Warby Parker Inc. was incorporated in 2009 and is headquartered in New York, New York. 

Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.

Barchart Technical Indicators:

• 100% technical buy signals
• 102.65+ Weighted Alpha
• 103.06% gain in the last year
• Trend Seeker buy signal
• 1.80 - 60 month Beta
• Above its 20, 50 and 100 day moving averages
• 13 new highs and up 34.86% in the last month
• Relative Strength Index 63.47%
• Technical support level at $20.74
• Recently traded at $21.10 with 50 day moving average of $16.32

Fundamental Factors:

• Market Cap $2.16 billion
• Revenue expected to grow 14.60% this year and another 13.10% next year
• Earnings are estimated to increase 170.00% this year and an additional 18.50% next year

Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:

• Wall Street analyst gave 10 strong buy and 5 hold opinions on the stock
• Analysts' price targets are between $17 and $23
• Value Line rates the stock it's average 3 rating and has a high price target of $30 and comments:"We still think Warby shares have a good shot at reaching the high end of our 2027–2029 Target Price Range. Assuming we’re right, investors will enjoy average annual returns of better than 15% over the next few years."
• CFRAs MarketScope rates the stock a hold with a price target of $20
• MorningStar gives the stock its average rating of 3 with a Fair Value of $21.15
• 2,790 investors monitor the stock on Seeking Alpha

Additional disclosure: The Barchart Chart of the Day or 37% over valuedhighlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.