Needham & Company LLC Reaffirms Buy Rating for ThredUp (NASDAQ:TDUP)

ThredUp (NASDAQ:TDUP)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They presently have a $5.00 target price on the stock. Needham & Company LLC’s price target would suggest a potential upside of 156.41% from the company’s previous close.

A number of other equities research analysts have also weighed in on TDUP. Telsey Advisory Group restated an “outperform” rating and issued a $4.00 price objective on shares of ThredUp in a report on Wednesday, May 1st. The Goldman Sachs Group lowered their price target on shares of ThredUp from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Thursday, January 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $4.00 price objective on shares of ThredUp in a research note on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

ThredUp Stock Performance

ThredUp stock opened at $1.95 on Tuesday. ThredUp has a fifty-two week low of $1.52 and a fifty-two week high of $4.39. The firm’s fifty day moving average price is $1.82 and its 200-day moving average price is $2.10. The stock has a market cap of $212.22 million, a P/E ratio of -2.87 and a beta of 0.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.02 and a current ratio of 1.22.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $81.39 million for the quarter, compared to the consensus estimate of $80.30 million. ThredUp had a negative return on equity of 61.27% and a negative net margin of 22.12%. During the same period last year, the firm earned ($0.19) EPS. On average, equities research analysts expect that ThredUp will post -0.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 109,934 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $1.91, for a total transaction of $209,973.94. Following the completion of the transaction, the director now directly owns 240,438 shares of the company’s stock, valued at $459,236.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 115,234 shares of company stock valued at $220,514 in the last quarter. Insiders own 34.42% of the company’s stock.

Hedge Funds Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp purchased a new position in ThredUp during the 4th quarter valued at $35,000. Tower Research Capital LLC TRC increased its position in shares of ThredUp by 445.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,376 shares of the company’s stock valued at $37,000 after buying an additional 13,372 shares during the period. Johnson Investment Counsel Inc. bought a new position in ThredUp in the third quarter worth about $41,000. Blair William & Co. IL purchased a new stake in ThredUp in the third quarter worth about $48,000. Finally, SG Americas Securities LLC boosted its position in ThredUp by 29.4% during the 4th quarter. SG Americas Securities LLC now owns 35,211 shares of the company’s stock valued at $79,000 after acquiring an additional 7,997 shares in the last quarter. Institutional investors own 89.08% of the company’s stock.

ThredUp Company Profile

ThredUp Inc, together with its subsidiaries, operates an online resale platform in the United States and internationally. Its platform enables consumers to buy and sell primarily secondhand apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.