SunTrust Robinson analyst Youssef Squali maintained a Hold rating on Blue Apron Holdings Inc (APRN) yesterday and set a price target of $1.70. The company’s shares closed yesterday at $1.03, close to its 52-week low of $0.65.
Squali noted:
“We maintain a Hold rating/$1.70 PT on APRN following a quarter that showed further top-line deceleration, but higher adj. EBITDA profitability. We view these results as a positive early sign of management’s focus on greater operating and financial efficiency that should stabilize the platform in late 2019/early 2020. A better, more diverse product offering sold through multiple channels, supported by higher marketing spend should re-ignite growth in 2020. That said, an intensely competitive environment and lack of visibility into the near- term execution strategy keeps us on the sidelines.”
According to TipRanks.com, Squali is a top 100 analyst with an average return of 23.5% and a 71.9% success rate. Squali covers the Technology sector, focusing on stocks such as Match Group Inc, Trade Desk Inc, and Cardlytics Inc.
Blue Apron Holdings Inc has an analyst consensus of Hold, with a price target consensus of $1.43, representing a 38.8% upside. In a report released yesterday, Stifel Nicolaus also maintained a Hold rating on the stock with a $1.10 price target.
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The company has a one-year high of $4.15 and a one-year low of $0.65. Currently, Blue Apron Holdings Inc has an average volume of 3.48M.
Based on the recent corporate insider activity of 55 insiders, corporate insider sentiment is negative on the stock.
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Blue Apron Holdings, Inc. engages in making home cooking accessible. It involves in demand planning, recipe creation, recipe merchandising, and marketing. Its products include meals and wine. The company was founded by Matthew J. Wadiak, Ilia M. Papas, and Matthew B. Salzberg in 2012 and is headquartered in New York, NY.
