ThredUp Inc. (NASDAQ:TDUP) Receives $6.55 Average Target Price from Analysts

ThredUp Inc. (NASDAQ:TDUP) has been assigned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $6.55.

A number of research firms have issued reports on TDUP. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Wednesday, June 24th. Telsey Advisory Group cut their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, Roth Capital reissued a “buy” rating and issued a $6.50 price objective on shares of ThredUp in a report on Thursday, August 6th.

ThredUp Stock Up 1.7%

Shares of NASDAQ:TDUP opened at $2.45 on Friday. The business’s 50 day simple moving average is $3.85 and its two-hundred day simple moving average is $4.37. The firm has a market cap of $321.76 million, a P/E ratio of -14.41 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 0.99. ThredUp has a 52-week low of $2.36 and a 52-week high of $10.17.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. The firm had revenue of $90.77 million for the quarter, compared to the consensus estimate of $90.34 million. As a group, research analysts forecast that ThredUp will post -0.17 EPS for the current fiscal year.

Insider Activity at ThredUp

In related news, COO Christopher Homer sold 60,230 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $155,393.40. Following the completion of the transaction, the chief operating officer directly owned 1,363,358 shares of the company’s stock, valued at approximately $3,517,463.64. This trade represents a 4.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 44,559 shares of ThredUp stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the transaction, the chief financial officer owned 613,503 shares of the company’s stock, valued at $1,582,837.74. This represents a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 company insiders.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently modified their holdings of the stock. AXQ Capital LP boosted its position in ThredUp by 16.8% during the fourth quarter. AXQ Capital LP now owns 40,498 shares of the company’s stock worth $259,000 after purchasing an additional 5,825 shares during the period. IFP Advisors Inc raised its position in shares of ThredUp by 634.8% in the second quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock valued at $48,000 after buying an additional 6,081 shares in the last quarter. Diker Management LLC raised its stake in ThredUp by 6.3% in the fourth quarter. Diker Management LLC now owns 152,555 shares of the company’s stock valued at $975,000 after purchasing an additional 9,000 shares in the last quarter. HB Wealth Management LLC bought a new position in ThredUp in the 2nd quarter valued at about $71,000. Finally, R Squared Ltd acquired a new position in ThredUp during the first quarter valued at approximately $34,000. 89.08% of the stock is currently owned by institutional investors.

ThredUp Company Profile

ThredUp Inc operates an online resale platform for secondhand clothing, shoes and accessories. Through its marketplace, consumers can buy pre-owned merchandise and list unwanted items for resale. The company handles much of the resale process, including receiving, inspecting, photographing, pricing and fulfilling orders for eligible products.

ThredUp also provides branded resale programs for retailers and apparel companies. These services enable brands to offer customers options such as clothing resale, trade-in and take-back programs through customized digital experiences powered by ThredUp’s infrastructure.