#3 - Blue Apron (NYSE:APRN)
Blue Apron (APRN) - Continuing with the food theme is Blue Apron (NYSE:APRN). This was another company that was one of the first within its sector to go public with a stock offering. But Blue Apron’s stock has fallen almost 97% in three years. I see three reasons for the stock’s predicament. First, it is apparent that a lot of Americans just don’t like to cook. So what’s the advantage of having the ingredients delivered to you, if you’re trying to reach a base that has meal delivery at their fingertips? The second problem is that APRN and others like it woke a sleeping giant. It wasn’t long before many grocery chains came to the realization that for some customers, the appeal to Blue Apron was not having to shop for the ingredients. But now they can shop on their phone and have their groceries ready at curbside or delivered to their home. Third, it’s a competitive space that doesn’t have room for many competitors. There are just too many obstacles in the meal-kit industry for Blue Apron to generate the growth and profits that it requires to be a viable investment.
About Blue Apron
Blue Apron Holdings, Inc operates a direct-to-consumer platform that delivers original recipes with fresh and seasonal ingredients. The company also operates Blue Apron Market, an e-commerce market that provides cooking tools, utensils, pantry items, and other products. In addition, it offers Blue Apron Wine, a direct-to-consumer wine delivery service that sells wines, which can be paired with its meals.
Read More - Current Price
- $12.99
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $15.00 (15.5% Upside)
