Wedbush Lowers ThredUp (NASDAQ:TDUP) Price Target to $3.00

ThredUp (NASDAQ:TDUP) had its target price dropped by investment analysts at Wedbush from $4.00 to $3.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective suggests a potential upside of 53.85% from the stock’s current price.

Other analysts also recently issued research reports about the company. Telsey Advisory Group dropped their price objective on ThredUp from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Tuesday. The Goldman Sachs Group dropped their price objective on ThredUp from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Thursday, January 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $5.00 target price on shares of ThredUp in a report on Tuesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $3.33.

ThredUp Price Performance

Shares of ThredUp stock opened at $1.95 on Tuesday. ThredUp has a 1-year low of $1.52 and a 1-year high of $4.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.22 and a quick ratio of 1.02. The business’s fifty day moving average price is $1.82 and its two-hundred day moving average price is $2.10. The company has a market capitalization of $212.22 million, a P/E ratio of -2.87 and a beta of 0.71.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Monday, March 4th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). ThredUp had a negative return on equity of 61.27% and a negative net margin of 22.12%. The firm had revenue of $81.39 million during the quarter, compared to the consensus estimate of $80.30 million. During the same period in the prior year, the firm posted ($0.19) EPS. As a group, research analysts forecast that ThredUp will post -0.46 EPS for the current year.

Insider Buying and Selling

In other ThredUp news, Director Patricia Nakache sold 109,934 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $1.91, for a total transaction of $209,973.94. Following the sale, the director now directly owns 240,438 shares of the company’s stock, valued at approximately $459,236.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 115,234 shares of company stock valued at $220,514. Company insiders own 34.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TDUP. Mackenzie Financial Corp purchased a new position in ThredUp during the 4th quarter valued at about $35,000. Tower Research Capital LLC TRC grew its position in 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 purchasing an additional 13,372 shares in the last quarter. Johnson Investment Counsel Inc. acquired a new position in ThredUp in the 3rd quarter valued at approximately $41,000. Blair William & Co. IL purchased a new stake in ThredUp in the 3rd quarter worth approximately $48,000. Finally, SG Americas Securities LLC boosted its stake in shares of 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 buying an additional 7,997 shares during the period. 89.08% of the stock is owned by institutional investors and hedge funds.

About ThredUp

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.