ThredUp (NASDAQ:TDUP) Stock Rating Upgraded by Wall Street Zen

ThredUp (NASDAQ:TDUP) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

TDUP has been the topic of several other reports. Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research report on Thursday, September 4th. Roth Capital started coverage on shares of ThredUp in a report on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ThredUp in a report on Monday, December 1st. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $12.00 target price on shares of ThredUp in a research note on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ThredUp has a consensus rating of “Moderate Buy” and an average price target of $12.50.

ThredUp Stock Performance

NASDAQ TDUP opened at $8.72 on Friday. The company’s 50 day simple moving average is $8.37 and its two-hundred day simple moving average is $8.73. 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 1 year low of $1.21 and a 1 year high of $12.28. The stock has a market capitalization of $1.09 billion, a PE ratio of -29.07 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 for the quarter, topping the consensus estimate of ($0.04) by $0.01. The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $77.34 million. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. Analysts predict that ThredUp will post -0.56 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In related news, CFO Sean Sobers sold 51,220 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $380,052.40. Following the completion of the sale, the chief financial officer directly owned 495,336 shares in the company, valued at $3,675,393.12. This represents a 9.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Christopher Homer sold 68,358 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $507,216.36. Following the sale, the chief operating officer directly owned 1,170,567 shares of the company’s stock, valued at $8,685,607.14. The trade was a 5.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 27.00% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Hedge funds and other institutional investors have recently modified their holdings of the company. PharVision Advisers LLC bought a new stake in shares of ThredUp in the third quarter worth about $241,000. XTX Topco Ltd lifted its holdings in ThredUp by 294.2% in the 3rd quarter. XTX Topco Ltd now owns 140,391 shares of the company’s stock worth $1,327,000 after buying an additional 104,773 shares during the period. Verition Fund Management LLC lifted its holdings in ThredUp by 28.8% in the 3rd quarter. Verition Fund Management LLC now owns 56,887 shares of the company’s stock worth $538,000 after buying an additional 12,730 shares during the period. Quarry LP bought a new stake in shares of ThredUp in the 3rd quarter worth approximately $37,000. Finally, Qube Research & Technologies Ltd increased its stake in shares of ThredUp by 29.0% during the third quarter. Qube Research & Technologies Ltd now owns 641,067 shares of the company’s stock valued at $6,058,000 after buying an additional 144,206 shares during the period. 89.08% of the stock is 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.