ThredUp Inc. (NASDAQ:TDUP) Receives $9.14 Consensus Target Price from Brokerages

ThredUp Inc. (NASDAQ:TDUP) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.14.

Several research analysts recently weighed in on the stock. Telsey Advisory Group dropped their target price on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Tuesday, May 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Wells Fargo & Company lowered their price objective on ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Finally, TD Cowen boosted their price objective on ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research report on Tuesday, May 5th.

ThredUp Price Performance

NASDAQ TDUP opened at $6.18 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. ThredUp has a 12 month low of $3.08 and a 12 month high of $12.28. The stock has a market cap of $797.47 million, a price-to-earnings ratio of -38.62 and a beta of 1.97. The company’s 50 day moving average is $5.35 and its two-hundred day moving average is $4.88.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The business had revenue of $81.67 million during the quarter, compared to analyst estimates of $80.17 million. ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. As a group, research analysts anticipate that ThredUp will post -0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Sean Sobers sold 45,554 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total value of $201,804.22. Following the transaction, the chief financial officer directly owned 572,523 shares of the company’s stock, valued at approximately $2,536,276.89. The trade was a 7.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 61,578 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the sale, the chief operating officer directly owned 1,301,843 shares of the company’s stock, valued at approximately $5,767,164.49. This trade represents a 4.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 insiders.

Hedge Funds Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently modified their holdings of TDUP. Raymond James Financial Inc. bought a new stake in ThredUp in the 2nd quarter valued at $32,000. R Squared Ltd purchased a new stake in ThredUp in the 1st quarter worth $34,000. Quarry LP purchased a new stake in ThredUp in the 3rd quarter worth $37,000. Abel Hall LLC bought a new position in shares of ThredUp during the 1st quarter valued at about $39,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of ThredUp by 552.9% during the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after purchasing an additional 5,424 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.