Warby Parker price target lowered to $27 from $31 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Warby Parker (WRBY) to $27 from $31 and keeps a Buy rating on the shares. While Q3 adjusted EBITDA was stronger than expected and management reaffirmed its FY EBITDA outlook for the year, Q3 results revealed a surprising slowdown in revenue trends which management expects to persist into Q4, the analyst tells investors in a research note. The results are driving increased uncertainty around Warby Parker’s ability to deliver consistent mid-teens or better top line growth, and the path to multiple improvement may take longer than expected, the firm says.