Blue Apron stock price target cut to $2.70 from $4.50 at SunTrust RH

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Blue Apron shares jump 9% after it added customers in the first quarter

Blue Apron Holdings Inc. shares jumped 9.1% in Thursday premarket trading after the meal subscription company added customers in the first-quarter. The company reported a net loss of $31.7 million, or 17 cents per share, after a loss of $52.2 million, or 78 cents per share, for the same period last year. Revenue fell to $196.7 million from $244.8 million last year. The FactSet consensus was for a 24-cents-per-share loss and revenue of $197.0 million. Customers decreased 24% year-over-year to 786,000, but increased 5% from 746,000 quarter-over-quarter. Blue Apron says it boosted marketing efforts in the first quarter, reporting a $39.3 million marketing expense. Blue Apron shares are down nearly 48% for the year so far, while the S&P 500 index is down 1.4% for the period.

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