ThredUp (NASDAQ:TDUP) Now Covered by TD Cowen

TD Cowen started coverage on shares of ThredUp (NASDAQ:TDUP) in a research note issued to investors on Monday, Marketbeat reports. The brokerage issued a buy rating and a $5.00 price target on the stock.

Several other research firms have also recently weighed in on TDUP. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. Wall Street Zen cut shares of ThredUp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Wells Fargo & Company dropped their price objective on shares of ThredUp from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Finally, Telsey Advisory Group dropped their price objective on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ThredUp has a consensus rating of “Moderate Buy” and an average target price of $9.80.

ThredUp Stock Performance

TDUP opened at $3.66 on Monday. The stock has a market capitalization of $464.97 million, a price-to-earnings ratio of -24.40 and a beta of 1.85. The company has a fifty day moving average of $4.18 and a 200 day moving average of $6.49. ThredUp has a fifty-two week low of $2.53 and a fifty-two week high of $12.28. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.91.

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

Insider Transactions at ThredUp

In other news, CFO Sean Sobers sold 56,504 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 value of $215,845.28. Following the completion of the sale, the chief financial officer owned 555,254 shares in the company, valued at approximately $2,121,070.28. This trade represents a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Christopher Homer sold 69,741 shares of ThredUp 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 sale, the chief operating officer owned 1,274,906 shares of the company’s stock, valued at $4,870,140.92. The trade was a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDUP. Raymond James Financial Inc. bought a new stake in ThredUp during the 2nd quarter valued at about $32,000. Quarry LP bought a new stake in ThredUp during the 3rd quarter valued at about $37,000. Meeder Asset Management Inc. increased its position in ThredUp by 552.9% during the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after purchasing an additional 5,424 shares during the period. State of Alaska Department of Revenue purchased a new position in ThredUp during the 3rd quarter valued at about $55,000. Finally, Versor Investments LP purchased a new position in ThredUp during the 4th quarter valued at about $70,000. Institutional investors own 89.08% of the company’s stock.

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.