Warby Parker

WRBY · NYSE

$25.62+$0.63 (+2.52%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $24.99

WRBY analyst rating

BuyConsensus of 8 analysts over the last 12 months. 63% rate it a buy.

Strong buy0
Buy5
Hold3
Underperform0
Sell0

12-month price target · 17 analysts

Average $30.68 (+19.8% upside)

Low: $24.24
Now: $25.62
High: $36.75

Upgrades and downgrades

The latest rating actions, newest first

WRBY analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Aug 7, 2026	Maintains	Neutral	$27.00 → $28.00	64%
Citizens	Aug 7, 2026	Maintains	Market Outperform	$30.00 → $29.00	54%
B of A Securities	Jun 29, 2026	Initiates	Buy	$33.00	62%
UBS	May 8, 2026	Maintains	Neutral	$25.00 → $27.00	64%
BTIG	May 7, 2026	Maintains	Buy	$32.00 → $34.00	51%
Citigroup	Mar 17, 2026	Maintains	Neutral	$18.00 → $24.00	53%
Telsey Advisory Group	Feb 20, 2026	Maintains	Outperform	$32.00	47%
Telsey Advisory Group	Feb 10, 2026	Maintains	Outperform	$32.00	47%
Piper Sandler	Dec 16, 2025	Maintains	Overweight	$22.00 → $32.00	49%
Stifel	Dec 12, 2025	Maintains	Hold	$19.00 → $25.00	54%

The case for and against

Updated Oct 14, 2026

Bull case

Warby Parker is attractive fundamentally because it is still expanding from a relatively low penetration base, with 15 net new stores opened in 2Q, management targeting 50 openings for 2026, and eye exams growing 30%+ Y/Y to about 7% of revenue. Its vertically integrated D2C model supports pricing power and margin improvement, evidenced by 2Q gross margin of 58.1% and adjusted EBITDA margin of 12.2% in Q1, while the higher-margin eye-exam business could eventually reach 15–20% of revenue. The outlook is further strengthened by AI-powered glasses and Google reimbursement support, which, alongside rising marketing investment and broader omnichannel adoption, could extend growth and customer stickiness over the medium to long term.

Bear case

Warby Parker is facing a soft optical category that continues to दब pressure traffic and units, with eCommerce down 0.3% Y/Y and the reported 2Q growth also hurt by a 2.8-point drag from sunsetting Home Try-On. The company may have gained share, but its demand remains vulnerable if consumers delay frame replacement amid macro uncertainty, especially as competitors imitate its technology and go-to-market model. Fundamental profitability also looks pressured, as gross margins are expected to contract 25+ bps in 2026 from higher contacts penetration, rising occupancy and optometrist costs, and additional tariffs, while weak store ramping could worsen margin compression and cash usage.

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