Canaccord Genuity Thinks Blue Apron Holdings’ Stock is Going to Recover
Canaccord Genuity analyst Maria Ripps maintained a Buy rating on Blue Apron Holdings (APRN) yesterday and set a price target of $12.00. The company’s shares closed last Thursday at $5.01, close to its 52-week low of $4.13.
According to TipRanks.com, Ripps is a top 100 analyst with an average return of 57.8% and a 64.9% success rate. Ripps covers the Technology sector, focusing on stocks such as Spotify Technology SA, Zillow Group Class A, and Viant Technology.
Currently, the analyst consensus on Blue Apron Holdings is a Moderate Buy with an average price target of $12.00.
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Blue Apron Holdings’ market cap is currently $90.44M and has a P/E ratio of -1.90. The company has a Price to Book ratio of 1.67.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of APRN in relation to earlier this year.
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Blue Apron Holdings, Inc. operates as an ingredient-and-recipe meal kit service company. It engages in making home cooking accessible. The firm 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.