Blue Apron Holdings Inc (APRN) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Blue Apron Holdings Inc (NASDAQ:APRN) in a report published on Friday. Needham & Company LLC currently has a $5.00 price target on the stock.

A number of other brokerages have also weighed in on APRN. CIBC assumed coverage on shares of Blue Apron Holdings in a report on Monday, July 24th. They issued an outperform rating and a $11.00 price target on the stock. Citigroup Inc. began coverage on shares of Blue Apron Holdings in a report on Tuesday, July 25th. They issued a buy rating and a $10.00 price target on the stock. SunTrust Banks, Inc. began coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They issued a buy rating and a $12.00 target price on the stock. William Blair began coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They issued a market perform rating on the stock. Finally, Raymond James Financial, Inc. began coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They issued a market perform rating on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $7.12.

Shares of Blue Apron Holdings (APRN) traded down $0.88 on Friday, hitting $3.79. 2,773,574 shares of the company’s stock were exchanged, compared to its average volume of 2,130,000. Blue Apron Holdings has a 52 week low of $3.56 and a 52 week high of $11.00.

Blue Apron Holdings (NASDAQ:APRN) last announced its quarterly earnings results on Thursday, November 2nd. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.04). The business had revenue of $210.60 million for the quarter, compared to the consensus estimate of $191.47 million. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.56) EPS.

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Institutional investors have recently added to or reduced their stakes in the stock. Obermeyer Wood Investment Counsel Lllp purchased a new stake in Blue Apron Holdings during the 2nd quarter worth $110,000. Royal Bank of Canada purchased a new stake in Blue Apron Holdings during the 2nd quarter worth $141,000. Legal & General Group Plc purchased a new stake in Blue Apron Holdings during the 2nd quarter worth $187,000. DekaBank Deutsche Girozentrale purchased a new stake in Blue Apron Holdings during the 2nd quarter worth $220,000. Finally, SG Americas Securities LLC purchased a new stake in Blue Apron Holdings during the 2nd quarter worth $264,000.

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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