Blue Apron Holdings Inc (NASDAQ:APRN) Shares Gap Down After Earnings Miss

Blue Apron Holdings Inc (NASDAQ:APRN)’s share price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $4.90, but opened at $5.14. Blue Apron Holdings shares last traded at $5.04, with a volume of 2,381,515 shares trading hands.

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. The business’s revenue was up 17.9% compared to the same quarter last year.

Several analysts have issued reports on APRN shares. Northcoast Research started coverage on shares of Blue Apron Holdings in a research note on Tuesday, July 11th. They issued a “sell” rating and a $2.00 target price on the stock. Royal Bank Of Canada started coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They issued an “outperform” 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 note on Monday, July 24th. They issued a “buy” rating and a $11.00 target price on the stock. Barclays PLC started coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. They issued an “equal weight” rating and a $7.00 target price on the stock. Finally, Stifel Nicolaus started coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th. 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 issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $9.04.

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in Blue Apron Holdings during the second quarter valued at $31,439,000. Victory Capital Management Inc. bought a new stake in Blue Apron Holdings during the second quarter valued at $14,010,000. Laurion Capital Management LP bought a new stake in Blue Apron Holdings during the second quarter valued at $10,274,000. Alliancebernstein L.P. bought a new stake in Blue Apron Holdings during the second quarter valued at $4,670,000. Finally, LMR Partners LLP bought a new stake in Blue Apron Holdings during the second quarter valued at $2,195,000.

The firm’s 50 day moving average is $7.11 and its 200-day moving average is $7.11. The company’s market cap is $151.72 million.

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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.

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