Telsey Advisory Group Forecasts Reduced Earnings for ThredUp

ThredUp Inc. (NASDAQ:TDUP) – Equities research analysts at Telsey Advisory Group reduced their FY2024 earnings per share estimates for ThredUp in a report issued on Tuesday, November 5th. Telsey Advisory Group analyst D. Telsey now expects that the company will post earnings per share of ($0.61) for the year, down from their previous estimate of ($0.54). Telsey Advisory Group currently has a “Outperform” rating and a $3.00 target price on the stock. The consensus estimate for ThredUp’s current full-year earnings is ($0.55) per share. Telsey Advisory Group also issued estimates for ThredUp’s FY2025 earnings at ($0.47) EPS.

A number of other equities analysts also recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Wells Fargo & Company lowered their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $3.33.

ThredUp Price Performance

NASDAQ:TDUP opened at $0.88 on Thursday. ThredUp has a one year low of $0.50 and a one year high of $3.02. The firm has a market cap of $96.91 million, a price-to-earnings ratio of -1.37 and a beta of 0.75. The firm’s fifty day moving average is $0.80 and its two-hundred day moving average is $1.36. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.92 and a current ratio of 1.06.

ThredUp (NASDAQ:TDUP) last issued 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 firm had revenue of $79.76 million for the quarter, compared to analyst estimates of $82.58 million. ThredUp had a negative return on equity of 73.47% and a negative net margin of 22.16%. During the same period in the prior year, the firm posted ($0.18) EPS.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDUP. Blair William & Co. IL increased its position in ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock worth $1,550,000 after purchasing an additional 674,852 shares during the last quarter. Bares Capital Management Inc. grew its position in ThredUp by 11.4% in the first quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock valued at $7,098,000 after acquiring an additional 362,221 shares in the last quarter. Acadian Asset Management LLC increased its stake in ThredUp by 22.8% during the 2nd quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock worth $2,303,000 after buying an additional 251,629 shares during the period. Marshall Wace LLP boosted its holdings in ThredUp by 37.4% in the second quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock valued at $1,312,000 after purchasing an additional 209,792 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of ThredUp by 72.6% during the second quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock worth $684,000 after buying an additional 169,196 shares in the last quarter. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at ThredUp

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

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.