Warby Parker (WRBY) Soars 15.8%: Is Further Upside Left in the Stock?

Warby Parker Inc. (WRBY) shares soared 15.8% in the last trading session to close at $16.53. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 31.4% loss over the past four weeks.Warby Parker shares are gaining momentum, driven by renewed optimism in e-commerce growth, strategic new store openings, and strong unit economics. The company’s rising brand awareness and effective customer acquisition strategies are further fueling its upward trajectory.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.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Warby Parker, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 part of the Zacks Consumer Products - Staples industry. Grocery Outlet Holding Corp. (GO), another stock in the same industry, closed the last trading session 2.8% higher at $13.86. GO has returned 4.7% in the past month.For Grocery Outlet, the consensus EPS estimate for the upcoming report has changed -0.9% over the past month to $0.07. This represents a change of -22.2% from what the company reported a year ago. Grocery Outlet currently has a Zacks Rank of #3 (Hold).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Warby Parker Inc. (WRBY): Free Stock Analysis Report Grocery Outlet Holding Corp. (GO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks