ThredUp Inc. (NASDAQ:TDUP) Given Average Rating of “Moderate Buy” by Brokerages

ThredUp Inc. (NASDAQ:TDUP) has received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.55.

TDUP has been the subject of a number of research reports. Wells Fargo & Company dropped their price target on ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. TD Cowen boosted their price objective on ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Roth Capital reiterated a “buy” rating and issued a $6.50 target price on shares of ThredUp in a research report on Thursday, August 6th. Finally, Telsey Advisory Group cut their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th.

ThredUp Price Performance

TDUP stock opened at $2.76 on Wednesday. The stock has a market cap of $362.47 million, a price-to-earnings ratio of -16.23 and a beta of 2.01. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.99. The company has a 50 day simple moving average of $5.41 and a 200 day simple moving average of $4.66. ThredUp has a 1 year low of $2.69 and a 1 year high of $12.15.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $90.77 million during the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. Research analysts anticipate that ThredUp will post -0.17 EPS for the current fiscal year.

Insider Activity at ThredUp

In other ThredUp news, CFO Sean Sobers sold 45,554 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $201,804.22. Following the sale, the chief financial officer directly owned 572,523 shares of the company’s stock, valued at $2,536,276.89. The trade was a 7.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 61,578 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total transaction of $272,790.54. Following the sale, the chief operating officer directly owned 1,301,843 shares in the company, valued at $5,767,164.49. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 23.10% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in shares of ThredUp during the second quarter worth $32,000. R Squared Ltd acquired a new stake in ThredUp in the first quarter valued at $34,000. Quarry LP acquired a new stake in ThredUp in the third quarter valued at $37,000. Abel Hall LLC bought a new position in ThredUp during the 1st quarter worth $39,000. Finally, Meeder Asset Management Inc. raised its position in ThredUp by 552.9% during the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock worth $41,000 after purchasing an additional 5,424 shares during the last quarter. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Company Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.