Warby Parker Inc. (WRBY) shares ended the last trading session 6.6% higher at $19. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 29.4% loss over the past four weeks.
Warby Parker’s shares have been gaining on the optimism surrounding rebound in e-commerce, new store openings and industry-leading unit economics. Increased brand awareness and customer acquisition, are contributing to WRBY’s success.
This company is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +50%. Revenues are expected to be $225.88 million, up 12.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Warby Parker, the consensus EPS estimate for the quarter has been revised 12% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on WRBY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Warby Parker is a member of the Zacks Consumer Products - Staples industry. One other stock in the same industry, Colgate-Palmolive (CL), finished the last trading session 1.1% higher at $90.44. CL has returned 3.6% over the past month.
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See This Stock Now for Free >>Warby Parker Inc. (WRBY) : Free Stock Analysis Report
Colgate-Palmolive Company (CL) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
