Blue Apron Holdings (APRN) Receives a Rating Update from a Top Analyst

By Jason Carr

In a report released yesterday, Maria Ripps from Canaccord Genuity maintained a Buy rating on Blue Apron Holdings (APRNResearch Report), with a price target of $18.00. The company’s shares closed last Wednesday at $8.66.

According to TipRanks.com, Ripps is a top 100 analyst with an average return of 49.6% and a 73.1% success rate. Ripps covers the Technology sector, focusing on stocks such as Spotify Technology SA, Zillow Group, and Leaf Group.

Blue Apron Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $18.00.

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Based on Blue Apron Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $102 million and GAAP net loss of $20.15 million. In comparison, last year the company earned revenue of $119 million and had a GAAP net loss of $7.75 million.

Based on the recent corporate insider activity of 24 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.