Wedbush Trims ThredUp (NASDAQ:TDUP) Target Price to $3.00

ThredUp (NASDAQ:TDUP) had its target price decreased by equities research analysts at Wedbush from $4.00 to $3.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price objective points to a potential upside of 51.90% from the company’s current price.

A number of other research firms also recently issued reports on TDUP. Telsey Advisory Group lowered their price target on ThredUp from $4.00 to $3.00 and set an “outperform” rating for the company in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of ThredUp in a research report on Tuesday. Finally, The Goldman Sachs Group decreased their target price on ThredUp from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, ThredUp has a consensus rating of “Moderate Buy” and a consensus target price of $3.33.

ThredUp Trading Up 6.2 %

TDUP stock traded up $0.12 during trading on Tuesday, reaching $1.98. 1,302,343 shares of the stock traded hands, compared to its average volume of 539,016. The business’s 50 day moving average price is $1.82 and its 200-day moving average price is $2.12. ThredUp has a 52-week low of $1.52 and a 52-week high of $4.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.22 and a quick ratio of 1.02. The firm has a market capitalization of $214.94 million, a PE ratio of -2.89 and a beta of 0.71.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, March 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). ThredUp had a negative net margin of 22.12% and a negative return on equity of 61.27%. The firm had revenue of $81.39 million for the quarter, compared to analysts’ expectations of $80.30 million. During the same period last year, the firm posted ($0.19) EPS. As a group, sell-side analysts forecast that ThredUp will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On ThredUp

A number of large investors have recently added to or reduced their stakes in TDUP. Johnson Investment Counsel Inc. purchased a new position in ThredUp in the 3rd quarter valued at about $41,000. Blair William & Co. IL purchased a new position in ThredUp in the third quarter valued at about $48,000. Mackenzie Financial Corp acquired a new stake in ThredUp during the 4th quarter valued at approximately $35,000. Tower Research Capital LLC TRC increased its holdings in ThredUp by 445.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 16,376 shares of the company’s stock worth $37,000 after purchasing an additional 13,372 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of ThredUp in the 3rd quarter valued at approximately $109,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.