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Blue Apron shares crater amid higher costs at new facility

11 Agosto 2017, 05:41 | Dolorita Barahona

Blue Apron reports major loss despite customer growth

Investors Alert on Blue Apron Holdings, Inc. (APRN)

UBS AG initiated coverage on shares of Blue Apron Holdings in a research note on Monday, July 24th.

There was at least some good news. Average orders per week fell to 4.4 from 4.3 a year ago. This surpassed analysts' expectations for $235.8 million.

Blue Apron Holdings Inc (NASDAQ:APRN)'s stock had its "buy" rating reaffirmed by research analysts at Royal Bank Of Canada in a report released on Tuesday.

The food provider company said increase in revenues is driven by an increase in orders and customers as number of its active customers jumped to 943,000 from 766,000 a year earlier but average revenue per customer declined by 5% to $251 and operating expenses surged 37%. But analysts had voiced concern about how much Blue Apron was spending to cover the airwaves and NY subways with advertising and whether its business model was sustainable.

Over the last 5 years, Analysts are expecting EPS growth rates to be at -16.90% this quarter and EPS estimate for next year reflect 48.60% growth rate.

If you were surprised about the Blue Apron directional move, you haven't been reading 24/7 Wall St. and seeing our tweets about $APRN.

This issue is compounded by Blue Apron slashing its IPO price at the last minute to attract investors.

The company's stock slumped more than 11 percent mid-morning after the business posted mixed financial results.

Shares in Blue Apron Holdings Inc. fell almost 16% early Thursday after the meal-kit company said new products and a new fulfillment center had cost more than expected. Legal & General Group Plc acquired a new position in shares of Blue Apron Holdings during the second quarter valued at approximately $187,000.

Blue Apron Holdings, Inc.is a holding company. This is down from its net income of $5.53 million that was reported in the second quarter of the previous year.

Unfortunately, that means a lot of work remains in front of the company at a time when it has ever-growing competition.

Shares fell by as much as 18% in early trading and were hovering at roughly 14% as of late Thursday morning. Alliancebernstein L.P. bought a new stake in shares of Blue Apron Holdings during the second quarter valued at approximately $4,670,000.

Investors really like consistency.

Blue Apron executives underscored their belief that the problems facing the company are short term, highlighting the company's longer-term potential. 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).



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