Telsey Advisory Group Reaffirms Outperform Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group reiterated their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research report released on Wednesday, Benzinga reports. The firm currently has a $4.00 target price on the stock.

Other analysts have also issued research reports about the stock. Wedbush reiterated an outperform rating and set a $4.00 target price on shares of ThredUp in a research note on Tuesday, March 5th. The Goldman Sachs Group dropped their price objective on shares of ThredUp from $4.00 to $3.00 and set a neutral rating on the stock in a research note on Thursday, January 11th. Finally, Needham & Company LLC reissued a buy rating and issued a $5.00 target price on shares of ThredUp in a report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $3.67.

ThredUp Stock Performance

Shares of ThredUp stock opened at $1.80 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.02 and a current ratio of 1.22. ThredUp has a 1 year low of $1.52 and a 1 year high of $4.39. The firm’s 50-day simple moving average is $1.82 and its 200-day simple moving average is $2.13. The firm has a market cap of $195.89 million, a PE ratio of -2.65 and a beta of 0.71.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, March 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). ThredUp had a negative net margin of 22.12% and a negative return on equity of 61.27%. The firm had revenue of $81.39 million for the quarter, compared to analyst estimates of $80.30 million. During the same quarter in the previous year, the company earned ($0.19) EPS. Equities analysts forecast that ThredUp will post -0.46 earnings per share for the current fiscal year.

Institutional Trading of ThredUp

Several hedge funds have recently bought and sold shares of the company. Bares Capital Management Inc. increased its stake in shares of ThredUp by 6.2% in the fourth quarter. Bares Capital Management Inc. now owns 3,186,579 shares of the company’s stock valued at $7,170,000 after purchasing an additional 186,579 shares during the period. Tower Research Capital LLC TRC increased its position in ThredUp by 445.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 16,376 shares of the company’s stock valued at $37,000 after acquiring an additional 13,372 shares during the period. Capital World Investors increased its position in ThredUp by 6.4% in the 4th quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock valued at $19,305,000 after acquiring an additional 516,000 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in ThredUp by 746.0% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 87,792 shares of the company’s stock valued at $198,000 after acquiring an additional 77,415 shares in the last quarter. Finally, Ieq Capital LLC boosted its position in ThredUp by 35.7% during the 4th quarter. Ieq Capital LLC now owns 54,408 shares of the company’s stock worth $122,000 after acquiring an additional 14,326 shares during the period. 89.08% of the stock is currently owned by institutional investors.

About ThredUp

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.