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

Shares of ThredUp Inc. (NASDAQ:TDUP) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $3.33.

A number of research analysts have recently commented on TDUP shares. Telsey Advisory Group restated an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a report on Tuesday, August 6th. Wells Fargo & Company reduced their target price on ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th.

ThredUp Price Performance

Shares of TDUP opened at $0.86 on Wednesday. The firm has a 50 day moving average of $1.07 and a 200 day moving average of $1.56. ThredUp has a twelve month low of $0.61 and a twelve month high of $4.14. The company has a market capitalization of $95.12 million, a P/E ratio of -1.35 and a beta of 0.71. The company has a quick ratio of 0.92, a current ratio of 1.06 and a debt-to-equity ratio of 0.23.

ThredUp (NASDAQ:TDUP) last posted its quarterly 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). The business had revenue of $79.76 million for the quarter, compared to the consensus estimate of $82.58 million. ThredUp had a negative net margin of 19.47% and a negative return on equity of 63.88%. During the same period in the prior year, the business earned ($0.18) earnings per share. As a group, equities research analysts anticipate that ThredUp will post -0.54 earnings per share for the current fiscal year.

Insider Activity at ThredUp

In other ThredUp news, Director Patricia Nakache sold 18,378 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $2.05, for a total value of $37,674.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Patricia Nakache sold 18,378 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $2.05, for a total transaction of $37,674.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Noam Paransky purchased 180,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was acquired at an average cost of $0.81 per share, with a total value of $145,800.00. Following the transaction, the director now directly owns 426,444 shares in the company, valued at $345,419.64. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 385,008 shares of company stock valued at $308,906 and sold 367,645 shares valued at $703,755. 34.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ThredUp

A number of institutional investors and hedge funds have recently modified their holdings of TDUP. Sei Investments Co. acquired a new position in ThredUp in the second quarter valued at $37,000. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp in the 2nd quarter valued at about $43,000. Price T Rowe Associates Inc. MD grew its stake in ThredUp by 33.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after buying an additional 5,635 shares during the last quarter. Diversified Trust Co lifted its stake in ThredUp by 117.3% in the second quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock valued at $48,000 after buying an additional 15,175 shares during the last quarter. Finally, Creekside Partners acquired a new stake in shares of ThredUp in the second quarter valued at approximately $51,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.