Time to Buy Blue Apron Holdings Inc (APRN) After Today's Huge Decline?

Blue Apron shares have had a tough go since their public market debut earlier this

The stock had previously closed at $6.24.

According to the website, Thursday's plunge came after Salzberg said on the earnings call that the company's new facility in Linden, N.J., would be delayed, affecting earnings in the second half of the year. The company also warned of slower revenue growth and higher operating costs for the rest of the year as it works through some growing pains.

APRN has been the topic of several recent analyst reports.

The decline left Blue Apron worth $974 million, below the $1 billion valuation mark delineating unicorns from smaller startups. That move, along with Amazon's industry-altering deal to buy upscale grocer Whole Foods Market Inc (WFM.O) has weighed on Blue Apron's shares since their market debut in June. They set a "buy" rating and a $11.00 target price on the stock. In this case, our ire is still reserved for APRN's underwriters, namely Goldman Sachs and Morgan Stanley (we'll let Citi and Barclays off the hook as they were understandably just happy to be invited to any kind of IPO party). Citigroup downgraded the stock to "Neutral" rating in Monday, July 27 report. They set an "outperform" rating and a $10.00 target price on the stock. Finally, Needham & Company LLC started coverage on shares of Blue Apron Holdings in a report on Monday, July 24th. Citigroup analysts stated on 25/07/2017 that they launched coverage on this stock with Buy rating. The stock now has an average rating of "Buy" and an average price target of $9.63.

A number of large investors have recently modified their holdings of APRN.

Blue Apron lost $31.6 million (47 cents per share) in the recent quarter, a much steeper loss than the 27 cents per share analysts forecast. More interesting news about Blue Apron Holdings Inc (NYSE:APRN) were released by: Seekingalpha.com and their article: "Here's How Blue Apron Could Succeed" published on July 25, 2017 as well as Investorplace.com's news article titled: "Blue Apron Holdings Inc (APRN) Stock Isn't as Screwed as It Seems" with publication date: July 21, 2017.

The company added that its customer count fell 9% versus the comparable quarter, but average revenue per customer increased to $251 from $236 in the previous quarter, but below the $264 in the year-over-year quarter. The Stock becomes significant when you consider how many shares are shorted versus the average daily volume, means how many days to cover those short shares at that volume. If you are accessing this article on another website, it was illegally copied and reposted in violation of US and global trademark & copyright legislation. The original version of this news story can be accessed at https://www.themarketsdaily.com/2017/08/10/blue-apron-holdings-inc-nasdaqaprn-stock-price-down-17-6-on-disappointing-earnings.html.

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