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

Shares of ThredUp Inc. (NASDAQ:TDUP) have been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $12.50.

A number of research firms recently weighed in on TDUP. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Thursday, September 4th. Roth Capital started coverage on ThredUp in a report on Wednesday, October 29th. They set a “buy” rating and a $11.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of ThredUp in a research note on Monday, December 8th. Wall Street Zen raised ThredUp from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $12.00 price target on shares of ThredUp in a research note on Tuesday, December 9th.

ThredUp Price Performance

NASDAQ:TDUP opened at $7.62 on Friday. The stock has a market cap of $953.57 million, a P/E ratio of -25.40 and a beta of 1.71. ThredUp has a one year low of $1.21 and a one year high of $12.28. The company has a fifty day moving average price of $8.17 and a 200 day moving average price of $8.75. 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 (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping 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 company had revenue of $82.16 million for the quarter, compared to analyst estimates of $77.34 million. Analysts anticipate that ThredUp will post -0.56 earnings per share for the current year.

Insider Activity at ThredUp

In other ThredUp news, Director Daniel J. Nova bought 65,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were acquired at an average price of $8.04 per share, with a total value of $522,600.00. Following the completion of the purchase, the director directly owned 368,930 shares in the company, valued at $2,966,197.20. The trade was a 21.39% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total transaction of $380,052.40. Following the transaction, the chief financial officer owned 495,336 shares of the company’s stock, valued at approximately $3,675,393.12. This represents a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. 27.00% of the stock is currently owned by insiders.

Institutional Trading of ThredUp

A number of large investors have recently bought and sold shares of TDUP. Vanguard Group Inc. lifted its holdings in shares of ThredUp by 6.1% during the third quarter. Vanguard Group Inc. now owns 6,914,427 shares of the company’s stock valued at $65,341,000 after acquiring an additional 398,865 shares during the period. Marshall Wace LLP grew its holdings in shares of ThredUp by 51.8% in the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock worth $32,758,000 after purchasing an additional 1,492,015 shares during the last quarter. Millennium Management LLC increased its position in shares of ThredUp by 27.1% during the 3rd quarter. Millennium Management LLC now owns 2,740,992 shares of the company’s stock worth $25,902,000 after purchasing an additional 584,506 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in ThredUp by 12.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company’s stock valued at $5,905,000 after purchasing an additional 279,799 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in ThredUp by 12.0% in the second quarter. Geode Capital Management LLC now owns 2,217,721 shares of the company’s stock valued at $16,614,000 after buying an additional 238,129 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

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.