ThredUp Inc. (NASDAQ:TDUP) Receives $11.00 Average Price Target from Brokerages

ThredUp Inc. (NASDAQ:TDUP) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $11.00.

TDUP has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research note on Monday, December 29th. Wells Fargo & Company reduced their price target on ThredUp from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Wall Street Zen lowered ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Telsey Advisory Group dropped their price target on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd.

ThredUp Price Performance

Shares of TDUP opened at $3.65 on Wednesday. ThredUp has a fifty-two week low of $2.14 and a fifty-two week high of $12.28. The firm’s 50-day simple moving average is $5.20 and its two-hundred day simple moving average is $7.61. The stock has a market cap of $456.77 million, a PE ratio of -24.33 and a beta of 1.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.91.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $79.70 million for the quarter, compared to analysts’ expectations of $77.17 million. ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%. Analysts anticipate that ThredUp will post -0.56 earnings per share for the current fiscal year.

Insider Activity at ThredUp

In other news, COO Christopher Homer sold 69,741 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total transaction of $266,410.62. Following the sale, the chief operating officer owned 1,274,906 shares in the company, valued at $4,870,140.92. This represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sean Sobers sold 56,504 shares of the firm’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 transaction of $215,845.28. Following the sale, the chief financial officer directly owned 555,254 shares of the company’s stock, valued at $2,121,070.28. This trade represents a 9.24% 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.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Alpine Global Management LLC purchased a new stake in shares of ThredUp during the fourth quarter valued at $74,000. nVerses Capital LLC purchased a new position in ThredUp in the 4th quarter worth about $83,000. VARCOV Co. bought a new position in ThredUp during the 4th quarter valued at about $201,000. Man Group plc boosted its holdings in shares of ThredUp by 51.8% during the 4th quarter. Man Group plc now owns 85,453 shares of the company’s stock valued at $546,000 after acquiring an additional 29,156 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of ThredUp by 53.3% in the fourth quarter. Inspire Investing LLC now owns 74,122 shares of the company’s stock worth $474,000 after acquiring an additional 25,784 shares during the period. 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.