ThredUp (NASDAQ:TDUP – Get Free Report) had its target price reduced by Wedbush from $4.00 to $3.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s target price would suggest a potential upside of 51.90% from the stock’s current price.
A number of other research analysts have also recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of ThredUp in a research note on Tuesday. Telsey Advisory Group lowered their price target on ThredUp from $4.00 to $3.00 and set an “outperform” rating for the company in a report on Tuesday. Finally, The Goldman Sachs Group lowered their price target on ThredUp from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, ThredUp currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.33.
Read Our Latest Stock Analysis on ThredUp
ThredUp Trading Up 6.2 %
ThredUp (NASDAQ:TDUP – Get Free Report) last released its earnings results on Monday, March 4th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $81.39 million for the quarter, compared to the consensus estimate 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 company posted ($0.19) EPS. Research analysts forecast that ThredUp will post -0.46 earnings per share for the current fiscal year.
Institutional Trading of ThredUp
Hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC lifted its holdings in ThredUp by 130.3% during the third quarter. Acadian Asset Management LLC now owns 742,974 shares of the company’s stock worth $2,978,000 after buying an additional 420,366 shares during the period. Blair William & Co. IL purchased a new stake in ThredUp during the third quarter worth $48,000. Bourgeon Capital Management LLC purchased a new stake in ThredUp during the third quarter worth $2,783,000. Boston Partners purchased a new stake in ThredUp during the third quarter worth $596,000. Finally, New York State Common Retirement Fund lifted its holdings in ThredUp by 2,363.3% during the third quarter. New York State Common Retirement Fund now owns 30,422 shares of the company’s stock worth $122,000 after buying an additional 29,187 shares during the period. Hedge funds and other 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.
Read More
- Five stocks we like better than ThredUp
- Insider Buying Explained: What Investors Need to Know
- Garmin Navigates to New Highs Driven By Wearables Trend
- Overbought Stocks Explained: Should You Trade Them?
- Pinterest Prospers From AI Boosting Shop-Ability and Relevance
- The Role Economic Reports Play in a Successful Investment Strategy
- AbbVie Tracking for New Highs in 2024
Receive News & Ratings for ThredUp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ThredUp and related companies with MarketBeat.com's FREE daily email newsletter.