ThredUp (NASDAQ:TDUP) Shares Up 7.5% – Should You Buy?

ThredUp Inc. (NASDAQ:TDUP) traded up 7.5% during mid-day trading on Wednesday . The stock traded as high as $4.73 and last traded at $4.6850. 270,508 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,360,706 shares. The stock had previously closed at $4.36.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Friday, March 27th. TD Cowen boosted their price objective on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Wells Fargo & Company reduced their price objective on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Tuesday, May 5th. Finally, Telsey Advisory Group reduced their price objective on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ThredUp currently has an average rating of “Moderate Buy” and a consensus price target of $9.14.

ThredUp Trading Up 8.1%

The company has a debt-to-equity ratio of 0.30, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $608.30 million, a PE ratio of -29.34 and a beta of 2.07. The firm’s 50 day moving average is $3.98 and its 200 day moving average is $5.33.

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

Insiders Place Their Bets

In other ThredUp news, CFO Sean Sobers sold 56,504 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total value of $215,845.28. Following the completion of the transaction, the chief financial officer owned 555,254 shares of the company’s stock, valued at $2,121,070.28. The trade was a 9.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Christopher Homer sold 69,741 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total transaction of $266,410.62. Following the completion of the transaction, the chief operating officer directly owned 1,274,906 shares of the company’s stock, valued at approximately $4,870,140.92. This represents a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of institutional investors have recently made changes to their positions in the business. Cerity Partners LLC boosted its stake in shares of ThredUp by 6.7% in the 2nd quarter. Cerity Partners LLC now owns 19,011 shares of the company’s stock valued at $142,000 after purchasing an additional 1,190 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of ThredUp by 5.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,302 shares of the company’s stock valued at $234,000 after purchasing an additional 1,601 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in ThredUp by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock valued at $115,000 after acquiring an additional 2,034 shares during the period. Cubist Systematic Strategies LLC grew its position in ThredUp by 7.6% in the 1st quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock valued at $90,000 after acquiring an additional 2,659 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in ThredUp by 3.3% during the third quarter. Alliancebernstein L.P. now owns 89,510 shares of the company’s stock worth $846,000 after purchasing an additional 2,900 shares during the last quarter. Hedge funds and other 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.