Direct-to-consumer lifestyle brand Warby Parker’s (WRBY) shares rallied in price after the company reported its first quarterly results as a public company and boosted its outlook for its fiscal year. However, considering WRBY’s lofty valuation, is the stock a good bet now? Keep reading. Lifestyle brand Warby Parker Inc.(WRBY) creates, manufactures, sells, and markets eyewear products for both men and women. WRBY was listed on the stock exchange at $54.05 per share through a direct listing. The New York City company’s stock soared 36% in price on its first trading session to close at $54.49. However, the stock has gained a mere 2.1% since it went public, closing yesterday’s trading session at $54.16. It has also fallen 5.8% in the last month.

WRBY shares closed the trading session 9% higher on November 12 following the company’s first quarterly earnings release as a public company that day. Direct-to-consumer brand Lifestyle Brand reported an increase of 32% in net revenue to $137.37 Million in the fiscal third quarter. Its net loss and per share net losses were respectively $91.07 and $1.45. The company’s loss was wider-than-expected, but sales beat Wall Street’s estimates.

It is reporting increased foot traffic to its brick-and mortar stores and more customers engaging with its digital platform. “We’re finding that more and more of our customers are engaging with our digital tools and our stores at various parts of their journey, so it’s not one or the other and really kind of a part of our direct consumer offering,” explained co-CEO David Gilboa. This year, the number of customers who are active jumped 23% to 395,000.

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