Turning to Wall Street, Blue Apron earns a Moderate Buy consensus rating based on two unanimous Buy ratings assigned in the past three months. Is APRN a Good Stock to Buy, According to Analysts? Therefore, investors are worried about the company’s ability to operate, going forward. However, if it doesn’t receive this money, its cash will likely only last until Q1 2023. APRN claims that it is owed over $69 million, and the company stated that if it receives this money, it will have enough funds to operate for the next 12 months. These sales are critical for APRN to meet its 2022 revenue target.Īdditionally, the equity offering will help Blue Apron meet its obligations for a short period of time, but it needs to raise more money at its current cash burn rate. If this sale comes in Q4 instead, along with the already-anticipated bulk sale for Q4, they will add up to about $30 million in revenue. Meanwhile, the revenue miss is due to Blue Apron missing out on a $15 million bulk sale from one of its customers.
Also, the company announced that it will sell up to $15 million worth of its Class A shares to fund its operations. The stock last traded on Friday at $3.81 up close to 4%.Shares of Blue Apron ( NYSE: APRN) were down by over 46% at one point today, as the company announced that it expects its Q3 revenue to land between $109 million and $112 million, much below consensus estimates of just under $130 million. Lake Street has a $9 target price on Blue Apron stock. Upon closing, Alex Chalunkal, Sanberg’s chief investment officer, will join the Blue Apron board. Blue Apron looks to use the proceeds of the private placement to invest in its long-term growth plan, with $25 million for strategic purposes, including exploring share buybacks. Sanberg affiliate RJB Partners agreed to raise its investment in the company from $20 million to $50 million under a private placement. The company offers its services through order selections on websites or mobile applications primarily in the United States.
It serves young couples, families, singles and empty nesters. The company offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines, which can be paired with its meals. The company also operates Blue Apron Market, an e-commerce market that provides cooking tools, utensils, pantry items and other products. ( NASDAQ: APRN) operates a direct-to-consumer platform that delivers original recipes with fresh and seasonal ingredients. While all five stocks are rated Buy, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.Ī major shareholder just made another significant investment into the stock. Blue Apron Holdings Inc. Cogent Biosciences, which we featured in March, has doubled. One stock we featured over the years, Zynga, recently was purchased by Take-Two Interactive. Skeptics of low-priced shares should remember that at one point both Amazon and Apple traded in the single digits. research database looking for well-known companies that could very well offer patient investors some huge returns for the rest of 2022 and beyond. That can really help the decision-making process, especially when you are on to a winner, as you can always sell half and keep half. Many investors, especially more aggressive traders, look at lower-priced stocks as a way not only to make some good money but to get a higher share count. At those steep prices, it is difficult to get any decent share count leverage. Many of the biggest public companies, especially the technology giants, trade in the hundreds, all the way up to over $1,000 per share or more. While most of Wall Street focuses on large-cap and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy.
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