Stifel analyst Jim Duffy has revised the price target for Warby Parker (WRBY), increasing it from $18 to $21, while maintaining a Hold rating. This adjustment is influenced by Warby Parker's collaboration with Google's (GOOG, Financial) Android XR, signaling the company's entry into the wearable technology segment. The integration of Google's AI technology is seen as enhancing Warby Parker’s brand perception and boosting its technological reputation.
Duffy notes that with the potential for a larger market upon full commercialization expected beyond 2025, Warby Parker is positioned for a possible premium valuation. However, the analyst advises caution due to execution risks, justifying the decision to keep the current Hold rating. Overall, the strategic partnership with Google solidifies Warby Parker’s standing in the market, while offering a promising outlook despite the associated risks.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 18 analysts, the average target price for Alphabet Inc (GOOG, Financial) is $201.56 with a high estimate of $225.00 and a low estimate of $185.00. The average target implies an upside of 21.92% from the current price of $165.32. More detailed estimate data can be found on the Alphabet Inc (GOOG) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, Alphabet Inc's (GOOG, Financial) average brokerage recommendation is currently 1.6, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alphabet Inc (GOOG, Financial) in one year is $197.37, suggesting a upside of 19.39% from the current price of $165.32. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alphabet Inc (GOOG) Summary page.
