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

Shares of ThredUp Inc. (NASDAQ:TDUP – Get Rating) have been assigned a consensus recommendation of “Buy” from the thirteen analysts that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $20.09.

A number of analysts have recently weighed in on the company. 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. Jefferies Financial Group assumed coverage on ThredUp in a research note on Thursday, March 17th. They set a “buy” rating and a $13.00 price objective for the company. The Goldman Sachs Group reissued a “neutral” rating on shares of ThredUp in a research note on Monday, April 25th. Wells Fargo & Company decreased their target price on ThredUp from $30.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, February 17th. Finally, Telsey Advisory Group decreased their target price on ThredUp from $32.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, March 1st.

In other news, Director Jack R. Lazar acquired 13,156 shares of the firm’s stock in a transaction on Wednesday, March 9th. The stock was acquired at an average price of $7.51 per share, for a total transaction of $98,801.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Large investors have recently modified their holdings of the company. Morgan Stanley bought a new position in shares of ThredUp during the first quarter valued at $34,000. Dark Forest Capital Management LP bought a new position in shares of ThredUp during the third quarter valued at $40,000. Fifth Third Bancorp bought a new position in shares of ThredUp during the fourth quarter valued at $43,000. Hardy Reed LLC bought a new position in shares of ThredUp during the first quarter valued at $48,000. Finally, Legal & General Group Plc bought a new position in shares of ThredUp during the fourth quarter valued at $53,000. Hedge funds and other institutional investors own 50.54% of the company’s stock.

Shares of TDUP opened at $6.59 on Friday. The firm has a market cap of $650.99 million and a P/E ratio of -4.92. The stock has a 50 day simple moving average of $7.69 and a two-hundred day simple moving average of $12.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.55 and a quick ratio of 2.44. ThredUp has a 1 year low of $5.75 and a 1 year high of $31.86.

ThredUp (NASDAQ:TDUP – Get Rating) last issued its earnings results 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 business had revenue of $72.88 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 67.8% on a year-over-year basis. On average, equities analysts anticipate that ThredUp will post -0.81 earnings per share for the current year.

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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