Telsey Advisory Group Reaffirms “Outperform” Rating for ThredUp (NASDAQ:TDUP)

ThredUp (NASDAQ:TDUP)‘s stock had its “outperform” rating reissued by research analysts at Telsey Advisory Group in a research report issued on Tuesday,Benzinga reports. They presently have a $12.00 price target on the stock. Telsey Advisory Group’s price target would indicate a potential upside of 42.35% from the company’s current price.

TDUP has been the subject of a number of other reports. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Thursday, September 4th. Weiss Ratings restated a “sell (d-)” rating on shares of ThredUp in a report on Monday, December 1st. Roth Capital started coverage on shares of ThredUp in a research note on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of ThredUp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ThredUp currently has an average rating of “Moderate Buy” and an average target price of $12.50.

ThredUp Trading Down 0.7%

TDUP opened at $8.43 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92. ThredUp has a fifty-two week low of $1.21 and a fifty-two week high of $12.28. The company’s 50 day moving average price is $8.32 and its two-hundred day moving average price is $8.74. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of -28.10 and a beta of 1.71.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $77.34 million. As a group, research analysts predict that ThredUp will post -0.56 earnings per share for the current year.

Insider Activity

In other ThredUp news, COO Christopher Homer sold 68,358 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total value of $507,216.36. Following the completion of the sale, the chief operating officer owned 1,170,567 shares of the company’s stock, valued at approximately $8,685,607.14. This trade represents a 5.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Nova purchased 65,000 shares of ThredUp stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average cost of $8.04 per share, with a total value of $522,600.00. Following the transaction, the director owned 368,930 shares in the company, valued at $2,966,197.20. This trade represents a 21.39% increase in their position. The disclosure for this purchase is available in the SEC filing. 27.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TDUP. Tudor Investment Corp ET AL boosted its position in shares of ThredUp by 42.9% during the third quarter. Tudor Investment Corp ET AL now owns 658,271 shares of the company’s stock valued at $6,221,000 after buying an additional 197,512 shares during the last quarter. PharVision Advisers LLC bought a new position in ThredUp during the 3rd quarter valued at $241,000. XTX Topco Ltd boosted its holdings in ThredUp by 294.2% during the 3rd quarter. XTX Topco Ltd now owns 140,391 shares of the company’s stock worth $1,327,000 after acquiring an additional 104,773 shares during the last quarter. Verition Fund Management LLC boosted its holdings in ThredUp by 28.8% during the 3rd quarter. Verition Fund Management LLC now owns 56,887 shares of the company’s stock worth $538,000 after acquiring an additional 12,730 shares during the last quarter. Finally, Quarry LP bought a new stake in shares of ThredUp in the 3rd quarter worth $37,000. Institutional investors own 89.08% of the company’s stock.

About ThredUp

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.