ThredUp (NASDAQ:TDUP) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of ThredUp (NASDAQ:TDUP) from a sell rating to a hold rating in a research report sent to investors on Wednesday, Zacks.com reports.

According to Zacks, “ThredUp Inc. provides resale platforms for women’s and kids’ apparel, shoes and accessories. ThredUp Inc. is based in OAKLAND, Calif. “

TDUP has been the topic of a number of other research reports. KeyCorp lifted their price target on shares of ThredUp from $22.00 to $32.00 and gave the company an overweight rating in a report on Thursday, June 17th. Morgan Stanley lifted their target price on shares of ThredUp from $16.00 to $19.00 and gave the company an equal weight rating in a report on Wednesday, July 28th. Berenberg Bank assumed coverage on shares of ThredUp in a research note on Tuesday, September 28th. They set a hold rating and a $21.00 price target on the stock. Piper Sandler boosted their target price on shares of ThredUp from $27.00 to $29.00 and gave the stock an overweight rating in a research report on Wednesday, June 23rd. Finally, Telsey Advisory Group boosted their target price on shares of ThredUp from $22.00 to $32.00 and gave the stock an outperform rating in a research report on Tuesday, July 27th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Buy and a consensus price target of $25.82.

Shares of NASDAQ TDUP opened at $20.60 on Wednesday. ThredUp has a 1 year low of $14.23 and a 1 year high of $31.86. The firm’s 50 day moving average price is $20.50 and its 200 day moving average price is $22.07. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.05 and a current ratio of 3.11.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings results on Tuesday, August 10th. The company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.01. The company had revenue of $59.96 million during the quarter, compared to analyst estimates of $57.20 million. On average, equities research analysts forecast that ThredUp will post -0.61 earnings per share for the current fiscal year.

In related news, major shareholder Trinity Tvl X, Llc sold 1,072,720 shares of the stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $23.16, for a total transaction of $24,844,195.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Alon Rotem sold 6,000 shares of the stock in a transaction that occurred on Friday, August 27th. The shares were sold at an average price of $19.00, for a total transaction of $114,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,223,514 shares of company stock valued at $28,158,566.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of ThredUp during the first quarter valued at approximately $7,766,000. New York State Common Retirement Fund acquired a new stake in shares of ThredUp during the first quarter valued at approximately $2,857,000. Teacher Retirement System of Texas acquired a new stake in shares of ThredUp during the first quarter valued at approximately $233,000. Sei Investments Co. acquired a new stake in shares of ThredUp during the first quarter valued at approximately $290,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of ThredUp during the first quarter valued at approximately $7,471,000. 27.96% of the stock is owned by institutional investors and hedge funds.

ThredUp Company Profile

ThredUp Inc operates online resale platforms that allows consumers to buy and sell secondhand women's and kids' apparel, shoes, and accessories. The company was founded in 2009 and is based in Oakland, California.

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