Blue Apron Holdings (APRN) Loses "Outperform" Rating

2 Reasons This Isn't The Time To Invest In Blue Apron

2 Reasons This Isn't The Time To Invest In Blue Apron

The total size of the offering was $300,000,000 based on an initial share price of $10.00. As per Monday, August 10, the company rating was upgraded by Zacks. Following the end of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company. Canaccord Genuity restated a "buy" rating and set a $11.00 price objective (down from $14.00) on shares of Blue Apron Holdings in a research report on Friday. Northcoast Research assumed coverage on Blue Apron Holdings in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Finally, SunTrust Banks, Inc. downgraded shares of Blue Apron Holdings from a "buy" rating to a "hold" rating and set a $12.00 price objective for the company.in a research report on Friday.

Among 11 analysts covering Blue Apron (APRN), 3 have Buy rating, 1 Sell and 7 Hold.

Having a price of $5.14, Blue Apron (NYSE:APRN) traded -17.63% lower on the day. The rating was downgraded by Goldman Sachs to "Neutral" on Thursday, August 10. Blue Apron had 14 analyst reports since July 11, 2017 according to SRatingsIntel. Blue Apron Holdings has a consensus rating of "Hold" and an average target price of $9.04.

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Shares of Blue Apron Holdings (NASDAQ:APRN) opened at 5.14 on Friday.

About 59,264 shares traded. The Company also reported a rise in costs of 86% or $65.7 million. The stock of HSBC Holdings plc (LON:HSBA) earned "Hold" rating by Deutsche Bank on Tuesday, May 24.

Blue Apron Holdings (NASDAQ:APRN) last announced its earnings results on Thursday, August 10th. The company reported ($0.47) earnings per share (EPS) 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 analyst estimates of $235.78 million.

Blue Apron CEO Matt Salzberg said the company's new facility in Linden, New Jersey, would be delayed, affecting earnings in the second half of the year. Analysts expect that Blue Apron Holdings will post ($1.27) EPS for the current fiscal year. This follows the recent sudden resignation of the Company's co-founder and Chief Operating Officer as well as reports of staffing cuts. Obermeyer Wood Investment Counsel Lllp acquired a new position in shares of Blue Apron Holdings during the second quarter worth about $110,000. Alliancebernstein L.P. purchased a new position in Blue Apron Holdings during the second quarter worth $4,670,000. Finally, Oak Ridge Investments LLC purchased a new position in Blue Apron Holdings during the second quarter worth $934,000.

KSF's investigation is focusing on whether Blue Apron and/or its officers and directors violated state or federal securities laws. The Company is focused on providing recipes and fresh ingredients for making home cooking accessible.

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