Blue Apron Holdings gained a vote of confidence on Monday, when Barclays analyst Ross Sandler gave the food kit company its first update since June OPI. Shares had plunged more than 60 percent since the listing, but shot up to 33 percent intraday, the highest figure recorded.
Today, Sandler turned his attention to another problematic former IPO, Snap Inc. "The worst is behind SNAP and the company is likely to get back on track in 2018," Sandler wrote, raising the stock to overweight and sending the shares up to 11 percent. The share had traded at a discount of 20 percent to its quotation from March 1 in the previous closing.
Mark the first update of the application to share photos since August, according to data from Bloomberg, taking the proportion of analysts who recommend buying the previous shares 20 percent.
With Blue Apron now on equal footing, Sandler remains negative in a single action: Twitter Inc. The social media company is trading about 23 percent below its IPO price of November 2013. Sandler's target price of $ 18 implies that stocks may have 12 percent more to fall.