Blue Apron Holdings Inc (APRN) Earns Buy Rating from Canaccord Genuity

Canaccord Genuity reaffirmed their buy rating on shares of Blue Apron Holdings Inc (NASDAQ:APRN) in a report released on Thursday. Canaccord Genuity currently has a $11.00 price objective on the stock.

Several other brokerages have also recently weighed in on APRN. CIBC began coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They set an outperform rating and a $11.00 price objective on the stock. Citigroup Inc. began coverage on shares of Blue Apron Holdings in a research note on Tuesday, July 25th. They set a buy rating and a $10.00 price objective on the stock. Needham & Company LLC began coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They set a buy rating and a $10.00 price objective on the stock. SunTrust Banks, Inc. began coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They set a buy rating and a $12.00 price objective on the stock. Finally, William Blair began coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They set a market perform rating on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $7.67.

Blue Apron Holdings (NASDAQ APRN) opened at 6.06 on Thursday. Blue Apron Holdings has a 52-week low of $5.00 and a 52-week high of $11.00. The company’s market cap is $182.06 million. The company has a 50-day moving average of $5.59 and a 200-day moving average of $6.33.

Blue Apron Holdings (NASDAQ:APRN) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.47) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.21). The business had revenue of $238.10 million for the quarter, compared to analysts’ expectations of $235.78 million. The company’s revenue was up 17.9% compared to the same quarter last year. On average, equities research analysts expect that Blue Apron Holdings will post ($1.60) earnings per share for the current fiscal year.

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Hedge funds have recently made changes to their positions in the business. Obermeyer Wood Investment Counsel Lllp bought a new position in Blue Apron Holdings in the second quarter valued at approximately $110,000. Royal Bank of Canada bought a new position in Blue Apron Holdings in the second quarter valued at approximately $141,000. Legal & General Group Plc bought a new position in Blue Apron Holdings in the second quarter valued at approximately $187,000. DekaBank Deutsche Girozentrale bought a new position in Blue Apron Holdings in the second quarter valued at approximately $220,000. Finally, SG Americas Securities LLC bought a new position in Blue Apron Holdings in the second quarter valued at approximately $264,000.

Blue Apron Holdings Company Profile

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.

Analyst Recommendations for Blue Apron Holdings (NASDAQ:APRN)

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