UBS raised the firm's price target on Warby Parker to $27 from $25 and keeps a Neutral rating on the shares. Warby Parker's Q1 results were solid, with net sales growth of 8.3% beating guidance and consensus and average revenue per customer rising 6.9% year over year, while management's commentary suggested improving Q2 trends, supported by strong performance from its new Sport line and early interest in smart glasses, though continued pressure on its core customer base and relatively lower managed care penetration versus peers may limit longer-term upside, the analyst tells investors in a research note.
