ThredUp Inc. (NASDAQ:TDUP) Stock Has Average Price Target of $4.64

Shares of ThredUp Inc. (NASDAQ:TDUP) have received an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $4.64.

TDUP has been the subject of several research reports. Roth Capital reiterated a “buy” rating and issued a $6.50 target price on shares of ThredUp in a research report on Thursday, August 6th. Northland Securities cut ThredUp from an “outperform” rating to a “market perform” rating and set a $2.00 price objective on the stock. in a research note on Thursday, November 5th. Telsey Advisory Group lowered their target price on shares of ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Weiss Ratings raised shares of ThredUp from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, November 3rd. Finally, TD Cowen started coverage on shares of ThredUp in a research report on Friday, October 30th. They issued a “strong-buy” rating on the stock.

Insider Activity

In other ThredUp news, COO Christopher Homer sold 60,230 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total transaction of $155,393.40. Following the completion of the sale, the chief operating officer directly owned 1,363,358 shares in the company, valued at approximately $3,517,463.64. This trade represents a 4.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 sale, the chief financial officer owned 613,503 shares of the company’s stock, valued at $1,582,837.74. This trade 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. 23.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ThredUp

A number of hedge funds have recently added to or reduced their stakes in TDUP. Marshall Wace LLP grew its position in shares of ThredUp by 46.2% during the 3rd quarter. Marshall Wace LLP now owns 5,135,456 shares of the company’s stock worth $10,887,000 after buying an additional 1,623,724 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of ThredUp by 19.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock valued at $9,727,000 after acquiring an additional 473,907 shares during the period. CI Investments Inc. acquired a new stake in shares of ThredUp in the 1st quarter valued at approximately $5,937,000. Readystate Asset Management LP boosted its stake in ThredUp by 197.4% during the 2nd quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock worth $10,335,000 after acquiring an additional 1,001,482 shares during the last quarter. Finally, Zweig DiMenna Associates LLC boosted its stake in ThredUp by 170.1% during the 1st quarter. Zweig DiMenna Associates LLC now owns 1,454,500 shares of the company’s stock worth $4,771,000 after acquiring an additional 916,000 shares during the last quarter. Institutional investors own 89.08% of the company’s stock.

ThredUp Price Performance

TDUP opened at $1.58 on Monday. ThredUp has a 1 year low of $1.24 and a 1 year high of $8.76. The company’s 50 day simple moving average is $2.18 and its 200 day simple moving average is $3.97. The stock has a market capitalization of $207.50 million, a PE ratio of -8.78 and a beta of 2.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.05.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $88.23 million during the quarter, compared to the consensus estimate of $88.05 million. ThredUp had a negative net margin of 6.89% and a negative return on equity of 39.12%. As a group, sell-side analysts expect that ThredUp will post -0.17 EPS for the current year.

ThredUp Company Profile

ThredUp, Inc. operates an online resale platform for secondhand clothing, shoes, handbags and accessories. The company offers shoppers a range of pre-owned items from various brands and provides a way for people to resell eligible clothing through its platform. Through its consignment service, ThredUp handles much of the resale process, including receiving and inspecting items, photographing and listing them, and fulfilling purchases. It also works with brands and retailers through resale programs that support the resale of their products.