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

ThredUp Inc. (NASDAQ:TDUP) has been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $11.00.

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded ThredUp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research note on Monday, December 29th. Wells Fargo & Company lowered their target price on shares of ThredUp from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Finally, Telsey Advisory Group cut their target price on shares of ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd.

Insider Buying and Selling

In other ThredUp news, CFO Sean Sobers sold 56,504 shares of ThredUp stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total value of $215,845.28. Following the transaction, the chief financial officer directly owned 555,254 shares in the company, valued at approximately $2,121,070.28. The trade was a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christopher Homer sold 69,741 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 transaction of $266,410.62. Following the completion of the sale, the chief operating officer directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 27.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently made changes to their positions in TDUP. Woodson Capital Management LP acquired a new position in ThredUp in the 4th quarter valued at about $11,502,000. Marshall Wace LLP grew its stake in shares of ThredUp by 51.8% in the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock valued at $32,758,000 after purchasing an additional 1,492,015 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of ThredUp by 263.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,056,345 shares of the company’s stock valued at $19,432,000 after purchasing an additional 1,491,020 shares during the last quarter. Prudential Financial Inc. increased its holdings in shares of ThredUp by 3,625.5% in 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 during the period. Finally, Invesco Ltd. raised its stake in shares of ThredUp by 3,682.1% during the second quarter. Invesco Ltd. now owns 1,135,351 shares of the company’s stock worth $8,504,000 after purchasing an additional 1,105,332 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Stock Performance

NASDAQ TDUP opened at $3.73 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.91 and a quick ratio of 0.91. ThredUp has a 1 year low of $2.16 and a 1 year high of $12.28. The company has a market capitalization of $466.77 million, a PE ratio of -24.87 and a beta of 1.72. The company has a fifty day moving average of $5.10 and a two-hundred day moving average of $7.51.

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

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.