ThredUp (NASDAQ:TDUP) Stock Rating Lowered by Wall Street Zen

ThredUp (NASDAQ:TDUP) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

TDUP has been the topic of several other reports. Weiss Ratings upgraded shares of ThredUp from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, November 3rd. William Blair lowered shares of ThredUp from an “outperform” rating to a “market perform” rating in a research report on Thursday. Northland Securities cut shares of ThredUp from an “outperform” rating to a “market perform” rating and set a $2.00 price target for the company. in a research note on Thursday. TD Cowen initiated coverage on shares of ThredUp in a research note on Friday, October 30th. They set a “strong-buy” rating for the company. Finally, Wells Fargo & Company cut their price objective on ThredUp from $8.00 to $3.00 and set an “overweight” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $4.64.

ThredUp Stock Performance

ThredUp stock opened at $1.28 on Friday. The business’s 50-day simple moving average is $2.30 and its 200-day simple moving average is $4.07. ThredUp has a 52 week low of $1.28 and a 52 week high of $8.76. The firm has a market capitalization of $168.76 million, a PE ratio of -7.14 and a beta of 2.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.05.

ThredUp (NASDAQ:TDUP) last announced its earnings results on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. ThredUp had a negative net margin of 6.89% and a negative return on equity of 39.12%. The business had revenue of $88.23 million for the quarter, compared to analyst estimates of $88.05 million. Equities research analysts forecast that ThredUp will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other ThredUp news, CFO Sean Sobers sold 44,559 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the sale, the chief financial officer owned 613,503 shares in the company, valued at approximately $1,582,837.74. The trade was a 6.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 60,230 shares of the stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $155,393.40. Following the completion of the transaction, the chief operating officer directly owned 1,363,358 shares in the company, valued at approximately $3,517,463.64. This trade represents a 4.23% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ThredUp

Institutional investors have recently modified their holdings of the stock. Abel Hall LLC bought a new position in ThredUp in the first quarter valued at approximately $39,000. IFP Advisors Inc boosted its holdings in shares of ThredUp by 634.8% in the second quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock valued at $48,000 after buying an additional 6,081 shares during the period. Vise Technologies Inc. acquired a new position in shares of ThredUp in the third quarter valued at approximately $59,000. HB Wealth Management LLC bought a new stake in shares of ThredUp during the second quarter worth $71,000. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of ThredUp during the first quarter worth $79,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Company Profile

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women’s and children’s clothing and related products, while individuals can send in unwanted items for resale through the company’s “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children’s clothing before expanding into women’s apparel and broader fashion categories.