ThredUp Inc. (NASDAQ:TDUP) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

ThredUp Inc. (NASDAQ:TDUP) has been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $4.64.

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of ThredUp from $8.00 to $3.00 and set an “overweight” rating on the stock in a report on Thursday. Roth Capital reaffirmed a “buy” rating and set a $6.50 price objective on shares of ThredUp in a report on Thursday, August 6th. William Blair cut shares of ThredUp from an “outperform” rating to a “market perform” rating in a research note on Thursday. TD Cowen assumed coverage on shares of ThredUp in a research report on Friday, October 30th. They set a “strong-buy” rating on the stock. Finally, Wall Street Zen lowered ThredUp from a “hold” rating to a “sell” rating in a research report on Saturday.

ThredUp Price Performance

Shares of TDUP stock opened at $1.28 on Monday. The stock’s fifty day simple moving average is $2.30 and its 200 day simple moving average is $4.07. ThredUp has a one year low of $1.28 and a one year high of $8.76. The firm has a market cap of $168.76 million, a price-to-earnings ratio of -7.14 and a beta of 2.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 1.05.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $88.23 million during the quarter, compared to analyst estimates of $88.05 million. ThredUp had a negative return on equity of 39.12% and a negative net margin of 6.89%. On average, analysts expect that ThredUp will post -0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sean Sobers sold 44,559 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total value of $114,962.22. Following the transaction, the chief financial officer directly owned 613,503 shares in the company, valued at $1,582,837.74. This trade represents a 6.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 60,230 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $155,393.40. Following the completion of the transaction, the chief operating officer directly owned 1,363,358 shares in the company, valued at $3,517,463.64. The trade was a 4.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 23.10% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in shares of ThredUp by 29.1% during the third quarter. Russell Investments Group Ltd. now owns 42,737 shares of the company’s stock worth $91,000 after acquiring an additional 9,630 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of ThredUp by 5,274.0% during the 3rd quarter. ProShare Advisors LLC now owns 740,542 shares of the company’s stock worth $1,570,000 after purchasing an additional 726,762 shares in the last quarter. Vise Technologies Inc. acquired a new stake in ThredUp in the third quarter valued at $59,000. WINTON GROUP Ltd bought a new position in ThredUp during the second quarter worth about $320,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of ThredUp during the 2nd quarter worth approximately $86,000. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Company Profile

ThredUp Inc operates an online resale platform for secondhand apparel, shoes and accessories. Through its marketplace, consumers can shop for pre-owned women’s and children’s clothing and related products, while individuals can send in unwanted items for resale through the company’s “Clean Out” service.

ThredUp manages much of the resale process, including receiving, inspecting, photographing, pricing, listing and fulfilling merchandise. The company also provides resale-as-a-service solutions that enable brands and retailers to offer or support secondhand programs, helping them participate in the growing circular fashion market.

Founded in 2009, ThredUp initially focused on children’s clothing before expanding into women’s apparel and broader fashion categories.