Brokerages Set ThredUp Inc. (NASDAQ:TDUP) Target Price at $3.33

Shares of ThredUp Inc. (NASDAQ:TDUP) have been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $3.33.

A number of equities analysts have commented on the stock. Wedbush dropped their price objective on shares of ThredUp from $4.00 to $3.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th. Telsey Advisory Group reissued an “outperform” rating and set a $3.00 price objective on shares of ThredUp in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price objective on shares of ThredUp in a research note on Tuesday, May 7th. Finally, Wells Fargo & Company dropped their target price on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th.

ThredUp Price Performance

Shares of NASDAQ:TDUP opened at $0.65 on Tuesday. The company has a market capitalization of $71.69 million, a P/E ratio of -1.02 and a beta of 0.79. ThredUp has a 1-year low of $0.61 and a 1-year high of $4.21. The firm’s 50 day simple moving average is $1.71 and its two-hundred day simple moving average is $1.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92.

ThredUp (NASDAQ:TDUP) last posted its earnings results on Monday, August 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). ThredUp had a negative net margin of 19.47% and a negative return on equity of 63.88%. The firm had revenue of $79.76 million for the quarter, compared to the consensus estimate of $82.58 million. During the same quarter in the prior year, the company posted ($0.18) earnings per share. Research analysts expect that ThredUp will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other ThredUp news, Director Patricia Nakache sold 119,221 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $1.78, for a total transaction of $212,213.38. Following the completion of the transaction, the director now owns 240,438 shares in the company, valued at $427,979.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Patricia Nakache sold 119,221 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $1.78, for a total value of $212,213.38. Following the transaction, the director now owns 240,438 shares of the company’s stock, valued at approximately $427,979.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alon Rotem sold 23,042 shares of ThredUp stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $2.01, for a total transaction of $46,314.42. Following the sale, the insider now directly owns 218,348 shares of the company’s stock, valued at approximately $438,879.48. The disclosure for this sale can be found here. Insiders have sold 429,975 shares of company stock valued at $831,190 in the last ninety days. 34.42% of the stock is owned by company insiders.

Hedge Funds Weigh In On ThredUp

Several institutional investors have recently bought and sold shares of TDUP. Capital World Investors boosted its position in ThredUp by 6.4% during the 4th quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock valued at $19,305,000 after acquiring an additional 516,000 shares in the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of ThredUp by 746.0% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 87,792 shares of the company’s stock worth $198,000 after purchasing an additional 77,415 shares during the last quarter. Bares Capital Management Inc. boosted its position in ThredUp by 6.2% during the fourth quarter. Bares Capital Management Inc. now owns 3,186,579 shares of the company’s stock valued at $7,170,000 after purchasing an additional 186,579 shares in the last quarter. Ieq Capital LLC raised its holdings in ThredUp by 35.7% in the fourth quarter. Ieq Capital LLC now owns 54,408 shares of the company’s stock worth $122,000 after purchasing an additional 14,326 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in ThredUp by 702.7% in the first quarter. Blair William & Co. IL now owns 236,800 shares of the company’s stock worth $474,000 after purchasing an additional 207,300 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.