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

ThredUp Inc. (NASDAQ:TDUP) has received an average recommendation of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $6.55.

TDUP has been the subject of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a report on Monday, September 21st. Roth Capital reaffirmed a “buy” rating and issued a $6.50 target price on shares of ThredUp in a report on Thursday, August 6th. Finally, Telsey Advisory Group decreased their target price on ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th.

Insider Activity at ThredUp

In other news, COO Christopher Homer sold 60,230 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $155,393.40. Following the sale, the chief operating officer directly owned 1,363,358 shares of the company’s stock, valued at $3,517,463.64. This represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 the 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 $114,962.22. Following 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 SEC filing for this sale provides additional information. 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 Investors Weigh In On ThredUp

Hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new position in shares of ThredUp in the 2nd quarter worth $320,000. Integrated Wealth Concepts LLC purchased a new stake in shares of ThredUp during the 2nd quarter valued at about $86,000. IFP Advisors Inc lifted its holdings in shares of ThredUp by 634.8% in the 2nd quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock valued at $48,000 after acquiring an additional 6,081 shares during the last quarter. Readystate Asset Management LP lifted its holdings in shares of ThredUp by 197.4% in the 2nd quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock valued at $10,335,000 after acquiring an additional 1,001,482 shares during the last quarter. Finally, HB Wealth Management LLC purchased a new position in ThredUp in the second quarter worth about $71,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Price Performance

TDUP stock opened at $2.25 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.99 and a current ratio of 0.99. The company’s fifty day moving average price is $3.58 and its 200-day moving average price is $4.33. ThredUp has a one year low of $2.19 and a one year high of $10.00. The company has a market capitalization of $295.49 million, a PE ratio of -13.23 and a beta of 1.97.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Wednesday, August 5th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $90.77 million for the quarter, compared to analysts’ expectations of $90.34 million. ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. On average, equities analysts anticipate that ThredUp will post -0.17 EPS for the current fiscal year.

About ThredUp

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.