Blue Apron Holdings Inc (APRN) PT Lowered to $11.00
Blue Apron Holdings Inc (NASDAQ:APRN) had its price objective cut by equities researchers at Canaccord Genuity from $14.00 to $11.00 in a note issued to investors on Friday, MarketBeat.com reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity’s price objective would indicate a potential upside of 114.01% from the stock’s current price.
A number of other equities analysts also recently issued reports on the stock. SunTrust Banks, Inc. downgraded shares of Blue Apron Holdings from a “buy” rating to a “hold” rating and set a $12.00 price target for the company. in a research note on Friday. Royal Bank Of Canada upped their price objective on shares of Blue Apron Holdings from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Friday. Citigroup Inc. cut shares of Blue Apron Holdings from a “buy” rating to a “neutral” rating in a report on Friday. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $11.00 price objective on shares of Blue Apron Holdings in a report on Thursday. Finally, CIBC started coverage on shares of Blue Apron Holdings in a report on Monday, July 24th. They issued an “outperform” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $9.04.
Shares of Blue Apron Holdings (NASDAQ:APRN) traded down 0.58% on Friday, reaching $5.11. The company had a trading volume of 2,565,633 shares. The company’s market capitalization is $153.52 million. The company’s 50-day moving average is $7.11 and its 200-day moving average is $7.11. Blue Apron Holdings has a one year low of $5.00 and a one year high of $11.00.
Blue Apron Holdings (NASDAQ:APRN) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.26) by $0.21. The company 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. Equities research analysts predict that Blue Apron Holdings will post ($1.27) earnings per share for the current year.
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Several large investors have recently bought and sold shares of APRN. JPMorgan Chase & Co. purchased a new stake in Blue Apron Holdings during the second quarter worth approximately $31,439,000. Victory Capital Management Inc. purchased a new stake in Blue Apron Holdings during the second quarter worth approximately $14,010,000. Laurion Capital Management LP purchased a new stake in Blue Apron Holdings during the second quarter worth approximately $10,274,000. Alliancebernstein L.P. purchased a new stake in Blue Apron Holdings during the second quarter worth approximately $4,670,000. Finally, LMR Partners LLP purchased a new stake in Blue Apron Holdings during the second quarter worth approximately $2,195,000.
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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