Blue Apron Holdings Inc (APRN) Given “Buy” Rating at Canaccord Genuity
Blue Apron Holdings Inc (NASDAQ:APRN)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity in a research report issued on Thursday. They currently have a $11.00 price target on the stock. Canaccord Genuity’s price target would suggest a potential upside of 104.08% from the stock’s previous close.
A number of other research analysts have also recently weighed in on APRN. SunTrust Banks, Inc. cut shares of Blue Apron Holdings from a “buy” rating to a “hold” rating and cut their price objective for the company from $12.00 to $5.50 in a report on Friday, August 11th. Barclays PLC cut their price objective on shares of Blue Apron Holdings from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, August 11th. Oppenheimer Holdings, Inc. cut shares of Blue Apron Holdings from an “outperform” rating to a “market perform” rating and set a $11.00 target price for the company. in a research note on Friday, August 11th. Needham & Company LLC reissued a “buy” rating and set a $6.50 target price (down previously from $10.00) on shares of Blue Apron Holdings in a research note on Friday, August 11th. Finally, Citigroup Inc. cut shares of Blue Apron Holdings from a “buy” rating to a “neutral” rating and cut their target price for the stock from $10.00 to $5.50 in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $7.67.
Shares of Blue Apron Holdings (APRN) traded up 5.473% during midday trading on Thursday, reaching $5.685. The company’s stock had a trading volume of 3,613,886 shares. The firm’s market capitalization is $170.79 million. The stock has a 50-day moving average of $5.71 and a 200 day moving average of $6.37. Blue Apron Holdings has a 12-month low of $5.00 and a 12-month high of $11.00.
Blue Apron Holdings (NASDAQ:APRN) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.21). The business had revenue of $238.10 million for the quarter, compared to the consensus estimate of $235.78 million. Blue Apron Holdings’s revenue was up 17.9% on a year-over-year basis. Equities research analysts predict that Blue Apron Holdings will post ($1.59) EPS for the current fiscal year.
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A number of large investors have recently bought and sold shares of the business. FMR LLC acquired a new position in Blue Apron Holdings in the 2nd quarter valued at about $42,090,000. Capital World Investors acquired a new position in shares of Blue Apron Holdings in the 2nd quarter worth approximately $36,476,000. JPMorgan Chase & Co. acquired a new position in shares of Blue Apron Holdings in the 2nd quarter worth approximately $31,439,000. Victory Capital Management Inc. acquired a new position in shares of Blue Apron Holdings in the 2nd quarter worth approximately $14,010,000. Finally, Laurion Capital Management LP acquired a new position in shares of Blue Apron Holdings in the 2nd quarter worth approximately $10,274,000.
About Blue Apron Holdings
Blue Apron Holdings, Inc is a holding company. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible. The Company offers under a novel business model in which it source, process, store and package meal ingredients and ship them directly to consumers. The Company’s core products include Meals and Wine.
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