Wedbush Lowers ThredUp (NASDAQ:TDUP) Price Target to $3.00

ThredUp (NASDAQ:TDUP) had its price objective lowered by research analysts at Wedbush from $4.00 to $3.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target would indicate a potential upside of 53.85% from the stock’s previous close.

TDUP has been the subject of several other reports. The Goldman Sachs Group dropped their target price on ThredUp from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, January 11th. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of ThredUp in a research report on Tuesday. Finally, Telsey Advisory Group lowered their price objective on ThredUp from $4.00 to $3.00 and set an “outperform” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $3.33.

ThredUp Price Performance

Shares of TDUP opened at $1.95 on Tuesday. The firm has a market cap of $212.22 million, a P/E ratio of -2.87 and a beta of 0.71. ThredUp has a 12-month low of $1.52 and a 12-month high of $4.39. The company’s 50-day moving average price is $1.82 and its 200 day moving average price is $2.10. The company has a current ratio of 1.22, a quick ratio of 1.02 and a debt-to-equity ratio of 0.21.

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

Insider Activity at ThredUp

In related news, Director Patricia Nakache sold 109,934 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $1.91, for a total value of $209,973.94. Following the completion of the transaction, the director now directly owns 240,438 shares of the company’s stock, valued at $459,236.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 115,234 shares of company stock valued at $220,514 over the last three months. 34.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its stake in ThredUp by 130.3% in the third quarter. Acadian Asset Management LLC now owns 742,974 shares of the company’s stock valued at $2,978,000 after buying an additional 420,366 shares during the last quarter. Blair William & Co. IL purchased a new stake in ThredUp in the third quarter valued at approximately $48,000. Bourgeon Capital Management LLC purchased a new stake in ThredUp in the third quarter valued at approximately $2,783,000. Boston Partners purchased a new stake in ThredUp in the third quarter valued at approximately $596,000. Finally, New York State Common Retirement Fund lifted its stake in ThredUp by 2,363.3% in the third quarter. New York State Common Retirement Fund now owns 30,422 shares of the company’s stock valued at $122,000 after buying an additional 29,187 shares during the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

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.