Lake Street Positive on Blue Apron (APRN) Following 'Best Ideas Conference' in NYC: 'continuing to see healthy customer numbers', PT $9

Lake Street Capital Markets analyst Ryan Meyers reiterated a Buy rating and $9.00 price target on Blue Apron (NYSE: APRN).

The analyst comments "Customer Growth Remains A Priority – Serving roughly 682K customers in the last 12 months, Blue Apron is continuing to see healthy customer numbers. Additionally, the customers that are signing up for the platform are spending more and sticking with the offering. Blue Apron has been able to understand the behaviors and habits of current and past customers to drive overall retention and customer growth. The company now markets more strategically toward value-added customers that will stick with the platform. After spending about $70M in marketing over the past three quarters, the investment has been made and continued customer conversion is expected."

For an analyst ratings summary and ratings history on Blue Apron click here. For more ratings news on Blue Apron click here.

Shares of Blue Apron closed at $5.68 yesterday.

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