Top 5 Food Delivery Stocks to Buy in 2021

2. Blue Apron Holdings, Inc. (NYSE: APRN)

Blue Apron Holdings, Inc. (NYSE: APRN) is a New York based meal kit delivery service founded by Matt Salzberg, Ilia Papas and Matt Wadiak. It operates exclusively in the US and delivers ingredients and recipes for food to customers so that they can make meals at home. The company went public in 2017. The products offered by the company include Blue Apron meals, Blue Apron Wine, and Blue Apron Market. The company works with farms to promote soil health and is under pressure to decrease waste materials on packaging. 

The firm has a market cap of over $115 million and reported more than $460 million in revenue in December 2020. Blue Apron said that the net revenue for the fourth quarter of 2020 increased 22% year-on-year to more than $115 million driven by the growth strategy of the company that focuses on innovation. The average order value of the company has also grown 6% year-on-year to $61, the firm disclosed. Orders per a single customer have increased 15% to 5.3 and average revenue per person is up 22% year-on-year.

In the outlook report provided for the first quarter of 2021, the company has projected that the year-on-year revenue would increase to up to $149 million, an increase of up to 27%. Stocks for stay-at-home companies have soared since the pandemic, with freelancing, food delivery, and other technology platforms posting record high prices. Even as the pandemic recedes, the unique place that Blue Apron provides in the market is unlikely to change and so it is one of the best delivery stocks for investors for this year.