Wells Fargo & Company Raises ThredUp (NASDAQ:TDUP) Price Target to $13.00

ThredUp (NASDAQ:TDUP) had its target price boosted by equities researchers at Wells Fargo & Company from $10.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 27.83% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Telsey Advisory Group increased their price target on ThredUp from $9.00 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday. Northland Securities began coverage on shares of ThredUp in a research note on Monday, July 21st. They issued an “outperform” rating and a $9.00 price objective for the company. Wall Street Zen raised shares of ThredUp from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Finally, Northland Capmk upgraded shares of ThredUp to a “strong-buy” rating in a report on Monday, July 21st. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $13.00.

ThredUp Stock Performance

Shares of NASDAQ:TDUP opened at $10.17 on Tuesday. The firm’s 50 day simple moving average is $7.81 and its 200-day simple moving average is $5.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 0.96. ThredUp has a one year low of $0.50 and a one year high of $11.00. The firm has a market cap of $1.20 billion, a PE ratio of -20.76 and a beta of 1.73.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $71.29 million for the quarter, compared to the consensus estimate of $67.54 million. ThredUp had a negative return on equity of 71.49% and a negative net margin of 19.66%. As a group, equities analysts predict that ThredUp will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bensler LLC purchased a new position in ThredUp in the second quarter valued at about $75,000. Cornerstone Investment Partners LLC bought a new stake in shares of ThredUp in the 2nd quarter valued at about $156,000. Y Intercept Hong Kong Ltd bought a new stake in shares of ThredUp in the 2nd quarter valued at about $1,104,000. Simplicity Wealth LLC grew its position in shares of ThredUp by 93.6% in the 2nd quarter. Simplicity Wealth LLC now owns 125,586 shares of the company’s stock worth $941,000 after buying an additional 60,730 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of ThredUp during the 2nd quarter worth approximately $96,000. 89.08% of the stock is owned by institutional investors.

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.