ThredUp Inc. (NASDAQ:TDUP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ThredUp Inc. (NASDAQ:TDUP) have been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $12.50.

Several analysts have recently weighed in on TDUP shares. Telsey Advisory Group reiterated an “outperform” rating and set a $12.00 target price on shares of ThredUp in a research report on Tuesday, December 9th. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a report on Thursday, September 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Monday. Wall Street Zen lowered shares of ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Roth Capital initiated coverage on ThredUp in a report on Wednesday, October 29th. They issued a “buy” rating and a $11.00 price target for the company.

Insiders Place Their Bets

In other ThredUp news, Director Daniel J. Nova acquired 65,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average cost 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean Sobers sold 51,220 shares of the 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 in the company, valued at approximately $3,675,393.12. The trade was a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of ThredUp by 42.6% during the fourth quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock valued at $108,000 after purchasing an additional 23,156 shares in the last quarter. Nuveen LLC purchased a new position in shares of ThredUp in the 1st quarter valued at $571,000. American Century Companies Inc. purchased a new position in shares of ThredUp in the 1st quarter valued at $57,000. Walleye Capital LLC bought a new position in shares of ThredUp in the 1st quarter worth $175,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of ThredUp during the 1st quarter worth $120,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Stock Down 11.7%

Shares of NASDAQ TDUP opened at $6.44 on Friday. ThredUp has a 1 year low of $1.21 and a 1 year high of $12.28. The firm has a 50-day simple moving average of $8.06 and a two-hundred day simple moving average of $8.76. The company has a market cap of $805.90 million, a P/E ratio of -21.47 and a beta of 1.71. 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 released its earnings results on Monday, November 3rd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. ThredUp had a negative return on equity of 39.20% and a negative net margin of 12.18%.The firm had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $77.34 million. Research analysts anticipate that ThredUp will post -0.56 earnings per share for the current year.

ThredUp Company Profile

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.