Blue Apron shares spike on earnings beat, improvements at New Jersey facility

Finally, Needham & Company LLC reissued a buy rating and issued a $5.00 target price (down previously from $6.50) on shares of Blue Apron in a report on Friday, November 3rd. We'll examine the Q4 numbers in a moment, but the company's earnings were so strong that shares of the meal kit firm were up over 7 percent in pre-market trading.

The meal delivery service reported a loss of $39.1m, or 20 cents per share, compared with a loss of $26.1m, or 39 cents per share for the same period a year ago.

As expected, revenues fell 13% during the fourth-quarter to US$187.7mln due to a fall in customer orders as Blue Apron scaled back its marketing efforts. Further, company shares have been seen trading -70.36% off of the 52 week high and 10.88% away from the 52 week low.

A number of research firms have weighed in on APRN. (NYSE:APRN) has been trading in a bullish manner, based on the relative positions of the stock's 20 and 200 day moving averages. SunTrust downgraded the stock to "Hold" rating in Friday, August 11 report.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -30.97%, and has a solid year to date (YTD) performance of -16.87% which means that the stock is constantly adding to its value from the previous fiscal year end price. The share price volatility of the stock remained at 9.32% for the month and by reducing the timeframe to just a week, the volatility stood at 6.12%. Stock has got OUTPERFORM rating from 2 analyst (s) whereas last month 1 analyst (s) have given outperform rating. To do this, analysts often study the speed and magnitude of a stock's price movements with what are known as momentum indicators.

JPMORGAN CHASE & CO raised its stake in Blue Apron Holdings, Inc. The stock was bought at an average price of $3.87 per share, for a total transaction of $154,800.00. Following the purchase, the senior vice president now owns 28,386 shares of the company's stock, valued at approximately $110,421.54. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. The firm earned "Underweight" rating on Friday, November 3 by Barclays Capital.

On 11/22/2017 First Round Capital Iv Partner, Major Shareholder, sold 65,728 with an average share price of $3.03 per share and the total transaction amounting to $199,155.84. The disclosure for this sale can be found here. The company's quarterly revenue was down 13.1% on a year-over-year basis. Balyasny Asset Management LLC acquired a new position in Blue Apron in the second quarter worth $584,000. The fund owned 2,222,005 shares of the company's stock after buying an additional 1,183,136 shares during the period.

The stock increased 2.06% or $0.07 during the last trading session, reaching $3.42.

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Among 16 analysts covering Blue Apron (APRN), 4 have Buy rating, 1 Sell and 11 Hold.

"We are methodically implementing operational improvements to drive our business and are encouraged by the progress we've made since last quarter, particularly in margin which contributed to improvement in our bottom-line performance", stated Brad Dickerson, Chief Executive Officer, Blue Apron Holdings, Inc.

Vanessa Coleman

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