ThredUp’s (TDUP) Outperform Rating Reaffirmed at Telsey Advisory Group

ThredUp (NASDAQ:TDUP)‘s stock had its “outperform” rating restated by investment analysts at Telsey Advisory Group in a report issued on Wednesday, Benzinga reports. They presently have a $3.00 price objective on the stock. Telsey Advisory Group’s price objective would suggest a potential upside of 42.86% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Wedbush reduced their target price on shares of ThredUp from $4.00 to $3.00 and set an “outperform” rating for the company in a report on Tuesday, May 7th. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of ThredUp in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $3.33.

ThredUp Stock Up 3.4 %

Shares of TDUP stock opened at $2.10 on Wednesday. ThredUp has a 12-month low of $1.51 and a 12-month high of $4.39. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.22. The firm has a fifty day moving average of $1.86 and a 200-day moving average of $1.91. The company has a market capitalization of $231.55 million, a price-to-earnings ratio of -3.28 and a beta of 0.78.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Monday, May 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $79.59 million for the quarter, compared to analyst estimates of $80.28 million. ThredUp had a negative return on equity of 63.62% and a negative net margin of 20.88%. As a group, equities research analysts predict that ThredUp will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Patricia Nakache sold 149,327 shares of the business’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $2.05, for a total value of $306,120.35. Following the completion of the sale, the director now directly owns 240,438 shares in the company, valued at approximately $492,897.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other ThredUp news, Director Patricia Nakache sold 149,327 shares of ThredUp stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $2.05, for a total value of $306,120.35. Following the completion of the sale, the director now owns 240,438 shares in the company, valued at approximately $492,897.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alon Rotem sold 23,042 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $2.01, for a total transaction of $46,314.42. Following the completion of the sale, the insider now directly owns 218,348 shares of the company’s stock, valued at approximately $438,879.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 774,753 shares of company stock valued at $1,522,771. Insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its position in shares of ThredUp by 29.4% during the 4th quarter. SG Americas Securities LLC now owns 35,211 shares of the company’s stock valued at $79,000 after acquiring an additional 7,997 shares during the period. Mackenzie Financial Corp bought a new position in shares of ThredUp in the fourth quarter worth about $35,000. Ieq Capital LLC boosted its stake in shares of ThredUp by 35.7% in the 4th quarter. Ieq Capital LLC now owns 54,408 shares of the company’s stock valued at $122,000 after purchasing an additional 14,326 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of 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 purchasing an additional 77,415 shares during the last quarter. Finally, Capital World Investors increased its position in ThredUp by 6.4% during the 4th quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock worth $19,305,000 after purchasing an additional 516,000 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

ThredUp Company Profile

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.