ThredUp Inc. (NASDAQ:TDUP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ThredUp Inc. (NASDAQ:TDUP) have received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $3.33.

TDUP has been the subject of several research reports. Telsey Advisory Group reiterated an “outperform” rating and issued a $3.00 target price on shares of ThredUp in a research note on Tuesday, August 6th. Wells Fargo & Company decreased their price objective on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of ThredUp in a research note on Wednesday.

Insider Activity at ThredUp

In related news, Director Noam Paranksy purchased 90,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were purchased at an average cost of $0.80 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now directly owns 246,444 shares of the company’s stock, valued at approximately $197,155.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Noam Paransky bought 40,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $0.79 per share, for a total transaction of $31,600.00. Following the completion of the purchase, the director now owns 546,444 shares of the company’s stock, valued at approximately $431,690.76. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Noam Paranksy purchased 90,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $0.80 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now owns 246,444 shares in the company, valued at $197,155.20. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 385,008 shares of company stock valued at $308,906 in the last 90 days. 34.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

Institutional investors have recently bought and sold shares of the business. Sei Investments Co. acquired a new stake in shares of ThredUp in the second quarter valued at $37,000. Price T Rowe Associates Inc. MD raised its stake in shares of ThredUp by 33.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock worth $45,000 after acquiring an additional 5,635 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of ThredUp during the second quarter worth approximately $43,000. Diversified Trust Co increased its holdings in shares of 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 purchasing an additional 15,175 shares in the last quarter. Finally, Creekside Partners bought a new position in ThredUp in the 2nd quarter worth approximately $51,000. Institutional investors own 89.08% of the company’s stock.

ThredUp Stock Performance

TDUP opened at $0.66 on Friday. ThredUp has a 12-month low of $0.61 and a 12-month high of $3.80. The firm has a market capitalization of $72.58 million, a P/E ratio of -1.03 and a beta of 0.71. The stock’s 50 day moving average price is $0.82 and its two-hundred day moving average price is $1.41. 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 announced its earnings results on Monday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). The company had revenue of $79.76 million for the quarter, compared to the consensus estimate of $82.58 million. ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. During the same period last year, the firm posted ($0.18) EPS. On average, equities analysts forecast that ThredUp will post -0.55 earnings per share for the current year.

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.