ThredUp (NASDAQ:TDUP) Given New $2.00 Price Target at Piper Sandler

ThredUp (NASDAQ:TDUPGet Rating) had its price target cut by Piper Sandler from $3.50 to $2.00 in a report released on Tuesday, The Fly reports. They currently have a neutral rating on the stock.

TDUP has been the topic of a number of other research reports. Barclays reduced their price objective on ThredUp from $9.00 to $6.00 and set an overweight rating on the stock in a research note on Monday, August 15th. KeyCorp started coverage on ThredUp in a research report on Wednesday, July 20th. They set a sector weight rating on the stock. Guggenheim dropped their target price on ThredUp to $8.00 in a research report on Monday, August 22nd. The Goldman Sachs Group dropped their target price on ThredUp from $6.00 to $4.00 and set a neutral rating on the stock in a research report on Tuesday, August 16th. Finally, Telsey Advisory Group dropped their target price on ThredUp from $11.00 to $7.00 and set an outperform rating on the stock in a research report on Tuesday, August 16th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $6.75.

ThredUp Trading Up 21.3 %

Shares of TDUP opened at $1.20 on Tuesday. The stock’s 50-day moving average is $1.78 and its two-hundred day moving average is $2.84. ThredUp has a 12 month low of $0.73 and a 12 month high of $21.34. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.64 and a current ratio of 1.77.

ThredUp (NASDAQ:TDUPGet Rating) last issued its quarterly earnings data on Monday, August 15th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06). The company had revenue of $76.42 million for the quarter, compared to analyst estimates of $76.04 million. ThredUp had a negative return on equity of 41.55% and a negative net margin of 28.65%. The company’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) EPS. On average, research analysts anticipate that ThredUp will post -0.89 earnings per share for the current fiscal year.

Institutional Trading of ThredUp

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its holdings in shares of ThredUp by 7.7% during the third quarter. State Street Corp now owns 1,101,572 shares of the company’s stock valued at $2,027,000 after purchasing an additional 79,041 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of ThredUp by 91.4% during the third quarter. Thrivent Financial for Lutherans now owns 5,655,581 shares of the company’s stock valued at $10,406,000 after purchasing an additional 2,701,011 shares during the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of ThredUp during the third quarter valued at approximately $59,000. Prelude Capital Management LLC bought a new position in shares of ThredUp during the third quarter valued at approximately $828,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of ThredUp by 10.3% during the third quarter. Bank of New York Mellon Corp now owns 214,440 shares of the company’s stock valued at $394,000 after purchasing an additional 20,004 shares during the last quarter. 59.63% of the stock is owned by institutional investors.

ThredUp Company Profile

(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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