Blue Apron price target lowered to $3.50 from $5.00 at Canaccord

Canaccord lowered the firm’s price target on Blue Apron to $3.50 from $5.00 and keeps a Hold rating on the shares. The analyst said they reported mixed Q4 results, with active customers coming in below CGe while revenue was modestly above expectations but roughly flat year-over-year and adjusted EBITDA was well ahead of CGe but still in negative territory.