In a report released today, Rupesh Parikh from Oppenheimer maintained a Hold rating on Blue Apron Holdings Inc (APRN). The company’s shares closed yesterday at $1.15, close to its 52-week low of $1.02.
Parikh commented:
“Yesterday, we spent time with CEO Brad Dickerson and CFO Blue Apron. We overall walked away increasingly confident in management’s ability to drive toward positive EBITDA next year through primarily cost-reduction efforts. On the revenue front, the company remains focused on stabilizing the core and capturing growth from on demand opportunities (Jet.com, Grubhub, retail partnerships, etc.). We continue to see longer-term value from the capabilities the company has developed and the attractive Blue Apron brand, but still are less clear on the stand- alone profitability profile of the business. Hence, we remain on the sidelines for now.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.3% and a 64.7% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Wal-Mart Stores Inc, and Ulta Beauty Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Blue Apron Holdings Inc with a $1.79 average price target, implying a 55.7% upside from current levels. In a report issued on November 15, Guggenheim also downgraded the stock to Hold.
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The company has a one-year high of $4.56 and a one-year low of $1.02. Currently, Blue Apron Holdings Inc has an average volume of 2.94M.
Based on the recent corporate insider activity of 60 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.
