ThredUp Inc. (NASDAQ:TDUP) Receives $12.50 Average Price Target from Brokerages

ThredUp Inc. (NASDAQ:TDUP) has earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $12.50.

Several brokerages have weighed in on TDUP. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research note on Monday, December 29th. Wall Street Zen lowered shares of ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Roth Capital began coverage on shares of ThredUp in a research report on Wednesday, October 29th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $12.00 target price on shares of ThredUp in a report on Tuesday, December 9th.

ThredUp Price Performance

Shares of NASDAQ TDUP opened at $5.68 on Tuesday. ThredUp has a twelve month low of $2.02 and a twelve month high of $12.28. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.26. The firm has a fifty day simple moving average of $7.15 and a 200 day simple moving average of $8.54. The company has a market capitalization of $710.80 million, a PE ratio of -18.93 and a beta of 1.73.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. The company had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $77.34 million. On average, sell-side analysts forecast that ThredUp will post -0.56 EPS for the current year.

Insider Activity

In related news, Director Daniel J. Nova acquired 65,000 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was acquired at an average price of $8.04 per share, with a total value of $522,600.00. Following the acquisition, the director directly owned 368,930 shares of the company’s stock, valued at approximately $2,966,197.20. This trade represents a 21.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CFO Sean Sobers sold 51,220 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total value of $380,052.40. Following the transaction, the chief financial officer owned 495,336 shares of the company’s stock, valued at approximately $3,675,393.12. The trade was a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

Several large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP grew its holdings in ThredUp by 51.8% during the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock worth $32,758,000 after acquiring an additional 1,492,015 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of ThredUp by 3,625.5% during the second quarter. Prudential Financial Inc. now owns 1,231,088 shares of the company’s stock valued at $9,221,000 after purchasing an additional 1,198,043 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in ThredUp by 30.2% during the second quarter. Panagora Asset Management Inc. now owns 630,226 shares of the company’s stock valued at $4,720,000 after buying an additional 146,245 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in ThredUp by 153.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,412,653 shares of the company’s stock worth $10,581,000 after buying an additional 855,630 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in ThredUp during the second quarter worth $1,104,000. 89.08% of the stock is owned by 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.