Shares of Warby Parker Inc. (WRBY) took a significant hit during Friday's trading session, plummeting 5.02% as multiple analysts adjusted their price targets for the eyewear company. The stock's sharp decline comes amid a challenging day for the company, despite analysts maintaining generally positive views on its long-term prospects.

Telsey Advisory, while keeping an Outperform rating on Warby Parker, lowered its price target from $30 to $22. This substantial reduction in the price target, representing a 26.67% decrease, likely contributed to investor concerns. Similarly, Roth MKM maintained a Hold rating on WRBY but set a notably lower price target of $1, further adding pressure to the stock.

The contrasting analyst actions – maintaining positive or neutral ratings while significantly reducing price targets – suggest a complex outlook for Warby Parker. Investors appear to be focusing on the lowered price targets as an indication of potential headwinds or reduced growth expectations for the company in the near term. This uncertainty has prompted a sell-off, resulting in the steep 5.02% decline observed during the trading session.