Yahoo Finance Today’s Research Reports on Stocks to Watch: Shopify and Blue Apron
NEW YORK, NY / ACCESSWIRE / July 30, 2018 / Both Shopify and Blue Apron Holdings saw losses on Friday on no particular news, although a WSJ report did discuss challenges that meal kit delivery companies are facing. Both companies are set to release their earnings reports this week.
RDI Initiates Coverage on:
Shopify Inc.
https://www.rdinvesting.com/report/?ticker=SHOP
Blue Apron Holdings, Inc.
https://www.rdinvesting.com/report/?ticker=APRN
Shopify Inc. shares closed down nearly 6% on Friday with about 2.1 million shares traded. There was no news from the company nor any catalyst for the decline. The company is scheduled to release its second-quarter financial report before the market opens on Tuesday, July 31. In the first quarter, Shopify reported revenue of $214.3 million, which was an increase of 68% YOY. While it may have seemed impressive, it was the slowest rate of growth Shopify had seen since it debuted in the market back in 2015. For the second quarter, the company expects revenue in the range of $230 to $235 million. This would mean growth of 52% to 55%, lower than the first quarter's 68% growth. Shopify is also expecting an adjusted operating loss in the range of $5 to $7 million. Recently the company inked a deal with Canadian cannabis company Aurora Cannabis where Aurora will use Shopify as its e-commerce engine for medicinal and recreational cannabis distribution across the world. "This experience and expertise is crucial to ensure the recreational market engages in a safe, secure, and sustainable way," said a Shopify spokeswoman.
Access RDI’s Shopify Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=SHOP
Blue Apron Holdings, Inc. shares closed down 10.39% on Friday on nearly 6.5 million shares traded. The stock recuperated some of those losses with a 1.45% gain in after-hours trading. The meal kit service company didn't have any news to explain the fall but Wall Street is preparing for the company's earnings report this week. Concerns over the meal kit industry and a sell off in growth stocks may have influenced Blue Apron's descent on Friday as well. A report from The Wall Street Journal recently outlined some of the challenges that meal kit companies are facing. The article also discussed how the industry is highly fragmented and many large companies in competition. The company is set to deliver its earnings report ahead of the bell next Thursday, Aug 2. CEO Brad Dickerson is aiming for Blue Apron to break even by next year. According to analysts, Blue Apron's bottom line loss is expected to go from -$0.47 to -$0.18. Analysts also see a decline of 21% in revenue.
Access RDI’s Blue Apron Holdings, Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=APRN
Our Actionable Research on Shopify Inc. (NYSE: SHOP) and Blue Apron Holdings, Inc. (NYSE: APRN) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
