ThredUp (NASDAQ:TDUP) Earns “Neutral” Rating from The Goldman Sachs Group

ThredUp (NASDAQ:TDUP – Get Rating)‘s stock had its “neutral” rating reissued by investment analysts at The Goldman Sachs Group in a research note issued to investors on Monday, Benzinga reports.

Several other equities research analysts have also recently weighed in on TDUP. Wells Fargo & Company reduced their price objective on ThredUp from $30.00 to $20.00 and set an “overweight” rating for the company in a research report on Thursday, February 17th. Morgan Stanley cut their price target on ThredUp from $16.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, March 8th. KeyCorp reduced their target price on ThredUp from $32.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 20th. Piper Sandler dropped their price objective on ThredUp from $34.00 to $19.00 and set an “overweight” rating for the company in a research note on Tuesday, March 8th. Finally, Telsey Advisory Group reduced their price target on shares of ThredUp from $32.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 1st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ThredUp presently has a consensus rating of “Buy” and a consensus price target of $20.50.

ThredUp stock opened at $7.34 on Monday. The company has a market cap of $725.07 million and a P/E ratio of -5.48. The business has a 50-day simple moving average of $7.84. ThredUp has a 1 year low of $5.75 and a 1 year high of $31.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 2.55.

ThredUp (NASDAQ:TDUP – Get Rating) last posted its quarterly earnings data on Monday, March 7th. The company reported ($0.18) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.18). The firm had revenue of $72.88 million for the quarter, compared to the consensus estimate of $69.80 million. ThredUp had a negative return on equity of 24.78% and a negative net margin of 25.09%. The company’s revenue was up 67.8% on a year-over-year basis. As a group, equities analysts expect that ThredUp will post -0.81 EPS for the current year.

In other ThredUp news, Director Jack R. Lazar purchased 13,156 shares of the stock in a transaction on Wednesday, March 9th. The stock was acquired at an average cost of $7.51 per share, with a total value of $98,801.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley bought a new position in ThredUp during the 1st quarter valued at about $34,000. Wells Fargo & Company MN raised its position in shares of ThredUp by 928.9% during the 2nd quarter. Wells Fargo & Company MN now owns 5,947 shares of the company’s stock valued at $173,000 after buying an additional 5,369 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of ThredUp by 123.2% in the third quarter. New York State Common Retirement Fund now owns 631,162 shares of the company’s stock valued at $13,690,000 after acquiring an additional 348,391 shares during the period. Advisor Group Holdings Inc. lifted its position in shares of ThredUp by 364.5% during the third quarter. Advisor Group Holdings Inc. now owns 3,586 shares of the company’s stock worth $78,000 after purchasing an additional 2,814 shares during the last quarter. Finally, M&G Investment Management Ltd. boosted its holdings in shares of ThredUp by 525.0% in the third quarter. M&G Investment Management Ltd. now owns 184,133 shares of the company’s stock valued at $4,051,000 after purchasing an additional 154,672 shares during the period. Hedge funds and other institutional investors own 50.54% of the company’s stock.

About ThredUp (Get Rating)

ThredUp Inc, together with its subsidiaries, operates online resale platforms that allows consumers to buy and sell secondhand women's and kids' apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.

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