Needham & Company LLC Reiterates Buy Rating for ThredUp (NASDAQ:TDUP)

ThredUp (NASDAQ:TDUP)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock. Needham & Company LLC’s price target points to a potential upside of 156.41% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $4.00 target price on shares of ThredUp in a research report on Wednesday, May 1st. Wedbush restated an “outperform” rating and set a $4.00 price objective on shares of ThredUp in a research report on Tuesday, March 5th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, ThredUp has an average rating of “Moderate Buy” and a consensus price target of $3.33.

ThredUp Price Performance

TDUP stock opened at $1.95 on Tuesday. ThredUp has a fifty-two week low of $1.52 and a fifty-two week high of $4.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.22 and a quick ratio of 1.02. The stock has a market capitalization of $212.22 million, a price-to-earnings ratio of -2.87 and a beta of 0.71. The business’s fifty day moving average price is $1.82 and its two-hundred day moving average price is $2.10.

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

Insider Activity

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 sale, the director now directly owns 240,438 shares in the company, valued at $459,236.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 115,234 shares of company stock valued at $220,514. Company insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of ThredUp by 28.5% in the 3rd quarter. FMR LLC now owns 6,113,152 shares of the company’s stock valued at $24,514,000 after purchasing an additional 1,355,607 shares during the period. Bourgeon Capital Management LLC bought a new stake in ThredUp in the third quarter worth approximately $2,783,000. EAM Investors LLC acquired a new position in ThredUp in the third quarter valued at approximately $2,618,000. Kent Lake Capital LLC bought a new position in shares of ThredUp during the 3rd quarter worth approximately $2,509,000. Finally, Capital World Investors grew its position in shares of ThredUp by 6.4% during the 4th quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock worth $19,305,000 after buying an additional 516,000 shares during the period. Institutional investors and hedge funds 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.