Blue Apron Holdings Inc (NASDAQ:APRN) was downgraded by investment analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a report issued on Friday, Marketbeat.com reports. They currently have a $5.50 target price on the stock, down from their previous target price of $12.00. SunTrust Banks, Inc.’s price target suggests a potential upside of 7.00% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Canaccord Genuity started coverage on shares of Blue Apron Holdings in a research report on Monday, July 24th. They issued a “buy” rating and a $14.00 target price on the stock. Needham & Company LLC started coverage on shares of Blue Apron Holdings in a research report on Monday, July 24th. They issued a “buy” rating and a $10.00 target price on the stock. Goldman Sachs Group, Inc. (The) started coverage on shares of Blue Apron Holdings in a research report on Monday, July 24th. They issued a “buy” rating and a $11.00 target price on the stock. Stifel Nicolaus started coverage on shares of Blue Apron Holdings in a research report on Monday, July 24th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Citigroup Inc. started coverage on shares of Blue Apron Holdings in a research report on Tuesday, July 25th. They issued a “buy” rating and a $10.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $8.67.

Blue Apron Holdings (APRN) traded down 1.848% during mid-day trading on Friday, reaching $5.045. The company had a trading volume of 2,925,322 shares. Blue Apron Holdings has a 12-month low of $5.00 and a 12-month high of $11.00. The firm has a 50-day moving average price of $7.11 and a 200 day moving average price of $7.11. The firm’s market capitalization is $151.57 million.

Blue Apron Holdings (NASDAQ:APRN) last posted its quarterly earnings data on Thursday, August 10th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.21. The firm had revenue of $238.10 million for the quarter, compared to the consensus estimate of $235.78 million. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Analysts expect that Blue Apron Holdings will post ($1.27) EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC purchased a new position in Blue Apron Holdings during the second quarter worth about $42,090,000. JPMorgan Chase & Co. purchased a new position in Blue Apron Holdings during the second quarter worth about $31,439,000. Victory Capital Management Inc. purchased a new position in Blue Apron Holdings during the second quarter worth about $14,010,000. Laurion Capital Management LP purchased a new position in Blue Apron Holdings during the second quarter worth about $10,274,000. Finally, Vanguard Group Inc. purchased a new position in Blue Apron Holdings during the second quarter worth about $4,892,000.

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.

Analyst Recommendations for Blue Apron Holdings (NASDAQ:APRN)

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