Shareholders in Blue Apron Holdings, Inc. (NYSE:APRN) had a terrible week, as shares crashed 33% to US$4.30 in the week since its latest third-quarter results. It looks like the results were pretty good overall. While revenues of US$112m were in line with analyst predictions, statutory losses were much smaller than expected, with Blue Apron Holdings losing US$0.96 per share. Earnings are an important time for investors, as they can track a company's performance, look at what the analysts are forecasting for next year, and see if there's been a change in sentiment towards the company. Readers will be glad to know we've aggregated the latest statutory forecasts to see whether the analysts have changed their mind on Blue Apron Holdings after the latest results.
Check out our latest analysis for Blue Apron Holdings
After the latest results, the three analysts covering Blue Apron Holdings are now predicting revenues of US$477.0m in 2021. If met, this would reflect a meaningful 8.5% improvement in sales compared to the last 12 months. Losses are predicted to fall substantially, shrinking 45% to US$2.30. Before this earnings announcement, the analysts had been modelling revenues of US$476.2m and losses of US$2.24 per share in 2021. So it's pretty clear consensus is mixed on Blue Apron Holdings after the new consensus numbers; while the analysts held their revenue numbers steady, they also administered a per-share loss expectations.
The consensus price target fell 11% to US$10.90per share, with the analysts clearly concerned by ballooning losses. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. Currently, the most bullish analyst values Blue Apron Holdings at US$14.00 per share, while the most bearish prices it at US$5.60. This is a fairly broad spread of estimates, suggesting that analysts are forecasting a wide range of possible outcomes for the business.
Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. For example, we noticed that Blue Apron Holdings' rate of growth is expected to accelerate meaningfully, with revenues forecast to grow 8.5%, well above its historical decline of 12% a year over the past five years. Compare this against analyst estimates for the wider industry, which suggest that (in aggregate) industry revenues are expected to grow 18% next year. So although Blue Apron Holdings' revenue growth is expected to improve, it is still expected to grow slower than the industry.