William Blair Weighs in on ThredUp Inc.’s Q1 2023 Earnings (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUP – Get Rating) – Stock analysts at William Blair issued their Q1 2023 earnings per share estimates for shares of ThredUp in a research report issued to clients and investors on Tuesday, March 7th. William Blair analyst D. Carden forecasts that the company will post earnings per share of ($0.22) for the quarter. The consensus estimate for ThredUp’s current full-year earnings is ($0.66) per share. William Blair also issued estimates for ThredUp’s Q2 2023 earnings at ($0.28) EPS, Q3 2023 earnings at ($0.17) EPS, Q4 2023 earnings at ($0.13) EPS, FY2023 earnings at ($0.79) EPS and FY2024 earnings at ($0.62) EPS.

Several other research analysts have also recently issued reports on TDUP. Wells Fargo & Company lowered their price objective on ThredUp from $12.00 to $4.00 and set an “overweight” rating for the company in a research report on Tuesday, November 15th. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of ThredUp in a report on Tuesday. Telsey Advisory Group restated an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a research report on Tuesday. Piper Sandler dropped their target price on shares of ThredUp from $3.50 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 15th. Finally, The Goldman Sachs Group reduced their price target on shares of ThredUp from $4.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, November 15th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, ThredUp has an average rating of “Moderate Buy” and an average target price of $4.91.

ThredUp Trading Up 3.1 %

Shares of TDUP stock opened at $2.36 on Friday. ThredUp has a 12 month low of $0.73 and a 12 month high of $8.99. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.18. The firm has a fifty day moving average price of $1.70 and a 200 day moving average price of $1.71.

ThredUp (NASDAQ:TDUP – Get Rating) last issued its quarterly earnings results on Monday, March 6th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. ThredUp had a negative net margin of 32.00% and a negative return on equity of 57.20%. The company had revenue of $71.32 million during the quarter, compared to the consensus estimate of $63.06 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share.

Institutional Investors Weigh In On ThredUp

Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its stake in shares of ThredUp by 27.0% in the 1st quarter. Royal Bank of Canada now owns 18,577 shares of the company’s stock valued at $143,000 after purchasing an additional 3,945 shares during the last quarter. Clearbridge Investments LLC grew its position in ThredUp by 0.9% in the 1st quarter. Clearbridge Investments LLC now owns 642,656 shares of the company’s stock valued at $4,948,000 after buying an additional 5,503 shares during the last quarter. Ensign Peak Advisors Inc increased its stake in ThredUp by 85.0% in the 1st quarter. Ensign Peak Advisors Inc now owns 12,860 shares of the company’s stock valued at $99,000 after buying an additional 5,910 shares during the period. Northern Trust Corp raised its position in ThredUp by 2.6% during the 1st quarter. Northern Trust Corp now owns 281,058 shares of the company’s stock worth $2,164,000 after buying an additional 7,132 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of ThredUp by 75.8% in the 2nd quarter. Legal & General Group Plc now owns 22,825 shares of the company’s stock worth $57,000 after acquiring an additional 9,844 shares during the period. Institutional investors and hedge funds own 57.48% of the company’s stock.

About ThredUp

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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.