Blue Apron Goes Cold After Winning Streak

Shares of Blue Apron go cold, snapping a seven-day winning streak, as investors re-assess whether the home meal-kit provider will be able to serve up positive results for the current quarter.

 

M. Corey Goldman, TheStreet 

Sep 18, 2019

 

Shares of Blue Apron (APRN - Get Report) went cold on Wednesday, snapping a seven-day winning streak, as investors re-assessed whether the home meal-kit provider will be able to serve up positive results for the current quarter.

 

Shares of Blue Apron were down nearly 7% at $9.62 in trading Wednesday, reversing double-digit percentage gains clocked late last week that appeared to be driven by a confluence of factors, including the announcement of an expanded leadership team and general optimism that the company will continue to hold its own in the competitive pre-prepared meal market.

 

Analysts surveyed by FactSet have a median 12-month target of $8 for the stock, with a high estimate of $11 and a low estimate of $6. For the company's upcoming quarter, analysts are forecasting a per-share loss of $1.95 on sales of $106.9 million. That compares with a year-earlier loss of 59 cents a share on sales of $119.1 million...

 

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https://www.thestreet.com/investing/stocks/blue-apron-goes-cold-after-winning-streak-15094896