Analyst Brooke Roach noted that while the stock's valuation "remains somewhat elevated," Warby Parker's strong fundamentals and margin growth outlook justifies outperformance from here.
Warby Parker trades at a forward price-to-earnings multiple of 69, well above the S & P 500's 24.6 ratio.
Warby Parker also has a track record of maximizing its labor operations and first-year store profitability.
Analysts are generally bullish on Warby Parker, which is up 17% for the year.
Of the 15 covering the stock, eight have buy or strong buy ratings, LSEG data shows.
Persons:
Warby, Goldman Sachs, Brooke Roach, Warby Parker, Roach