Blue Apron Has Captured Millennials but Competition From Amazon and Whole Foods Is Fierce

Blue Apron's IPO is coming.
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Blue Apron is set to debut as a public company on the New York Stock Exchange in late June.

Annie Petrino of Argus Research said the company has everything going for it, but its valuation is high. Its projected price-to-sales multiple stands at 3.9, compared to peers of 3.0.

Plus, Blue Apron faces competition from the looming combination of Amazon (AMZN) - Get Report and Whole Foods (WFM) .

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