ThredUp Inc. (NASDAQ:TDUP) Receives $11.00 Consensus Price Target from Brokerages

ThredUp Inc. (NASDAQ:TDUP) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

Several research analysts have issued reports on TDUP shares. Wall Street Zen lowered ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Wells Fargo & Company lowered their target price on ThredUp from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday. Telsey Advisory Group cut their target price on ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Monday, December 29th.

ThredUp Trading Down 2.4%

Shares of TDUP stock opened at $3.65 on Wednesday. ThredUp has a fifty-two week low of $2.14 and a fifty-two week high of $12.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 0.91. The stock has a 50 day simple moving average of $5.20 and a two-hundred day simple moving average of $7.66. The company has a market cap of $456.76 million, a P/E ratio of -24.33 and a beta of 1.72.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $79.70 million for the quarter, compared to analysts’ expectations of $77.17 million. ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%. Research analysts forecast that ThredUp will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Sean Sobers sold 56,504 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total value of $215,845.28. Following the sale, the chief financial officer owned 555,254 shares in the company, valued at $2,121,070.28. This represents a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Christopher Homer sold 69,741 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total transaction of $266,410.62. Following the completion of the transaction, the chief operating officer directly owned 1,274,906 shares in the company, valued at approximately $4,870,140.92. The trade was a 5.19% decrease in their position. The SEC filing for this sale provides additional information. 27.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ThredUp

A number of hedge funds have recently bought and sold shares of TDUP. Vanguard Group Inc. grew its holdings in shares of ThredUp by 8.9% in the fourth quarter. Vanguard Group Inc. now owns 7,530,479 shares of the company’s stock valued at $48,120,000 after acquiring an additional 616,052 shares in the last quarter. Needham Investment Management LLC boosted its position in ThredUp by 7.0% in the fourth quarter. Needham Investment Management LLC now owns 6,075,000 shares of the company’s stock worth $38,819,000 after purchasing an additional 400,000 shares during the last quarter. Marshall Wace LLP boosted its position in ThredUp by 11.8% in the fourth quarter. Marshall Wace LLP now owns 4,825,251 shares of the company’s stock worth $30,833,000 after purchasing an additional 509,195 shares during the last quarter. State Street Corp grew its stake in ThredUp by 26.2% in the 4th quarter. State Street Corp now owns 2,886,417 shares of the company’s stock valued at $18,444,000 after purchasing an additional 598,793 shares during the period. Finally, Millennium Management LLC grew its stake in ThredUp by 27.1% in the 3rd quarter. Millennium Management LLC now owns 2,740,992 shares of the company’s stock valued at $25,902,000 after purchasing an additional 584,506 shares during the period. 89.08% of the stock is owned by hedge funds and other institutional investors.

ThredUp Company Profile

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.