ThredUp Inc. (NASDAQ:TDUP) Receives Consensus Rating of “Moderate Buy” from Brokerages

ThredUp Inc. (NASDAQ:TDUP) has been given an average rating of “Moderate Buy” by the seven analysts that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $9.14.

Several equities analysts recently issued reports on the company. TD Cowen upped their price objective on ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Wells Fargo & Company lowered their price objective on ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research report on Friday, March 27th. Finally, Telsey Advisory Group lowered their price objective on ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 5th.

ThredUp Stock Performance

TDUP stock opened at $4.29 on Monday. The stock has a market capitalization of $553.58 million, a PE ratio of -26.81 and a beta of 2.07. ThredUp has a 12-month low of $3.08 and a 12-month high of $12.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $3.95 and its 200 day simple moving average is $5.38.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings data on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $81.67 million for the quarter, compared to analysts’ expectations of $80.17 million. ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%. As a group, research analysts forecast that ThredUp will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In other ThredUp news, COO Christopher Homer sold 69,741 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total transaction of $266,410.62. Following the completion of the sale, the chief operating officer directly owned 1,274,906 shares in the company, valued at approximately $4,870,140.92. The trade was a 5.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sean Sobers sold 56,504 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total transaction of $215,845.28. Following the sale, the chief financial officer owned 555,254 shares of the company’s stock, valued at approximately $2,121,070.28. This represents a 9.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in ThredUp by 47.9% during the 1st quarter. Bank of America Corp DE now owns 345,353 shares of the company’s stock valued at $1,133,000 after buying an additional 111,829 shares during the last quarter. Amundi purchased a new stake in ThredUp during the 1st quarter valued at $90,000. Royal Bank of Canada raised its stake in ThredUp by 50.2% during the 1st quarter. Royal Bank of Canada now owns 101,062 shares of the company’s stock valued at $331,000 after buying an additional 33,781 shares during the last quarter. Empowered Funds LLC purchased a new stake in ThredUp during the 1st quarter valued at $1,338,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in ThredUp by 19.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock valued at $9,727,000 after buying an additional 473,907 shares during the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

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.