Blue Apron Holdings Inc (NASDAQ:APRN) Posts Earnings Results, Misses Estimates By $0.21 EPS

Blue Apron Holdings Inc (NASDAQ:APRN) announced its quarterly earnings data on Thursday. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by $0.21, MarketWatch Earnings reports. The firm had revenue of $238.10 million during the quarter, compared to the consensus estimate of $235.78 million. The business’s quarterly revenue was up 17.9% compared to the same quarter last year.

Shares of Blue Apron Holdings (APRN) opened at 5.12 on Friday. The company has a 50-day moving average price of $7.05 and a 200-day moving average price of $7.05. Blue Apron Holdings has a 12 month low of $5.00 and a 12 month high of $11.00. The company’s market capitalization is $153.82 million.

A number of brokerages have recently issued reports on APRN. Needham & Company LLC reissued a “buy” rating and issued a $6.50 price objective (down from $10.00) on shares of Blue Apron Holdings in a research note on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $8.00 price objective (down from $10.00) on shares of Blue Apron Holdings in a research note on Friday. Barclays PLC dropped their price objective on Blue Apron Holdings from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday. Oppenheimer Holdings, Inc. lowered Blue Apron Holdings from an “outperform” rating to a “market perform” rating and set a $11.00 target price for the company. in a research report on Friday. Finally, Canaccord Genuity decreased their target price on Blue Apron Holdings from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Friday. 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 company. Blue Apron Holdings presently has a consensus rating of “Hold” and an average target price of $7.83.

A number of hedge funds have recently modified their holdings of the company. FMR LLC bought a new stake in shares of Blue Apron Holdings during the second quarter valued at approximately $42,090,000. JPMorgan Chase & Co. bought a new stake in shares of Blue Apron Holdings during the second quarter valued at approximately $31,439,000. Victory Capital Management Inc. bought a new stake in shares of Blue Apron Holdings during the second quarter valued at approximately $14,010,000. Laurion Capital Management LP bought a new stake in shares of Blue Apron Holdings during the second quarter valued at approximately $10,274,000. Finally, Vanguard Group Inc. bought a new stake in shares of Blue Apron Holdings during the second quarter valued at approximately $4,892,000.

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About Blue Apron Holdings

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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