ThredUp (NASDAQ:TDUP – Get Rating) had its price target reduced by Wedbush from $13.00 to $8.00 in a research note issued to investors on Tuesday, The Fly reports. Wedbush’s price objective would suggest a potential upside of 47.60% from the company’s current price.
Several other equities analysts have also recently issued reports on TDUP. Zacks Investment Research upgraded ThredUp from a “sell” rating to a “hold” rating in a research note on Tuesday, March 8th. Morgan Stanley reduced their price objective on ThredUp from $16.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 8th. Telsey Advisory Group reduced their price objective on ThredUp from $32.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. KeyCorp reduced their price objective on ThredUp from $32.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, January 20th. Finally, Wells Fargo & Company cut their target price on ThredUp from $20.00 to $15.00 in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $17.17.
ThredUp stock opened at $5.42 on Tuesday. The stock has a market cap of $535.41 million, a PE ratio of -4.04 and a beta of -0.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.44 and a current ratio of 2.55. The firm’s 50 day simple moving average is $7.60. ThredUp has a 52 week low of $5.25 and a 52 week high of $31.86.
In other news, Director Jack R. Lazar bought 13,156 shares of the stock in a transaction that occurred on Wednesday, March 9th. The shares were purchased at an average cost of $7.51 per share, with a total value of $98,801.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.99% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in ThredUp by 9.6% in the 1st quarter. Principal Financial Group Inc. now owns 891,708 shares of the company’s stock worth $6,866,000 after purchasing an additional 78,114 shares in the last quarter. Swiss National Bank increased its stake in ThredUp by 160.5% in the 1st quarter. Swiss National Bank now owns 123,500 shares of the company’s stock worth $951,000 after purchasing an additional 76,100 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in ThredUp in the 1st quarter worth about $81,000. Qube Research & Technologies Ltd boosted its position in ThredUp by 80.7% during the 1st quarter. Qube Research & Technologies Ltd now owns 90,723 shares of the company’s stock worth $699,000 after acquiring an additional 40,506 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in ThredUp by 109.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 37,818 shares of the company’s stock worth $291,000 after acquiring an additional 19,786 shares during the period. 65.20% of the stock is currently owned by hedge funds and other institutional investors.
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.
- Get a free copy of the StockNews.com research report on ThredUp (TDUP)
- Follow The Money To Cigna
- The Low In Lordstown Motors May Not Be The Last
- Intuitive Surgical is an Intuitive Buy
- MarketBeat Podcast: Barbell Strategy To Strengthen Your Portfolio
- Time to Buy These 3 Oversold Mid-Caps
Receive News & Ratings for ThredUp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ThredUp and related companies with MarketBeat.com's FREE daily email newsletter.