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

ThredUp Inc. (NASDAQ:TDUP – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.14.

Several research firms have recently commented on TDUP. Wells Fargo & Company reduced their price target on ThredUp from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. TD Cowen upped their price target on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a report on Tuesday, May 5th. Telsey Advisory Group decreased their price objective on ThredUp from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th.

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Insider Buying and Selling

In related news, COO Christopher Homer sold 61,578 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the completion of the sale, the chief operating officer owned 1,301,843 shares of the company’s stock, valued at approximately $5,767,164.49. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 45,554 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $4.43, for a total transaction of $201,804.22. Following the completion of the sale, the chief financial officer directly owned 572,523 shares of the company’s stock, valued at $2,536,276.89. The trade was a 7.37% decrease in their position. 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. Company insiders own 23.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Quarry LP purchased a new stake in ThredUp during the 3rd quarter worth approximately $37,000. Raymond James Financial Inc. bought a new position in shares of ThredUp during the second quarter valued at approximately $32,000. Meeder Asset Management Inc. grew its stake in ThredUp by 552.9% during the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock worth $41,000 after buying an additional 5,424 shares during the last quarter. R Squared Ltd bought a new position in shares of ThredUp during the first quarter worth about $34,000. Finally, Versor Investments LP acquired a new stake in shares of ThredUp in the fourth quarter valued at approximately $70,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Stock Performance

TDUP traded down $0.04 on Tuesday, hitting $6.88. 516,288 shares of the company traded hands, compared to its average volume of 2,297,133. ThredUp has a 12-month low of $3.08 and a 12-month high of $12.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $5.12 and a 200-day moving average of $4.90. The stock has a market capitalization of $888.44 million, a PE ratio of -43.01 and a beta of 1.97.

ThredUp (NASDAQ:TDUP – Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($0.05) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.05). The firm had revenue of $81.67 million for the quarter, compared to analyst estimates of $80.17 million. ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. Sell-side analysts anticipate that ThredUp will post -0.09 earnings per share for the current year.

ThredUp Company Profile

(Get Free Report)

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.

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