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

Shares of ThredUp Inc. (NASDAQ:TDUP) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $9.14.

A number of research analysts recently weighed in on TDUP shares. Wells Fargo & Company lowered their price objective on shares of ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. Telsey Advisory Group decreased their target price on shares of ThredUp from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, May 5th. TD Cowen increased their price target on ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research note on Wednesday, June 24th.

Insiders Place Their Bets

In other news, CFO Sean Sobers sold 45,554 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $201,804.22. Following the completion of the sale, the chief financial officer owned 572,523 shares of the company’s stock, valued at $2,536,276.89. This represents a 7.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 61,578 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the sale, the chief operating officer directly owned 1,301,843 shares of the company’s stock, valued at $5,767,164.49. The trade was a 4.52% 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. 23.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

A number of institutional investors and hedge funds have recently made changes to their positions in TDUP. Bank of America Corp DE grew its position in ThredUp by 42.6% during the fourth quarter. Bank of America Corp DE now owns 77,456 shares of the company’s stock valued at $108,000 after buying an additional 23,156 shares during the period. Cubist Systematic Strategies LLC raised its position in ThredUp by 7.6% in the first quarter. Cubist Systematic Strategies LLC now owns 37,516 shares of the company’s stock worth $90,000 after acquiring an additional 2,659 shares during the period. AQR Capital Management LLC raised its position in ThredUp by 185.9% in the first quarter. AQR Capital Management LLC now owns 94,652 shares of the company’s stock worth $228,000 after acquiring an additional 61,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of ThredUp by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 47,705 shares of the company’s stock worth $115,000 after acquiring an additional 2,034 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in shares of ThredUp by 39.2% during the 1st quarter. Jane Street Group LLC now owns 92,376 shares of the company’s stock worth $223,000 after acquiring an additional 25,995 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Price Performance

TDUP opened at $5.78 on Friday. The company’s 50-day simple moving average is $5.83 and its two-hundred day simple moving average is $4.88. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $745.85 million, a P/E ratio of -36.12 and a beta of 1.97. ThredUp has a 52-week low of $3.08 and a 52-week high of $12.28.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings results on Monday, May 4th. The company reported ($0.05) EPS for the quarter, hitting analysts’ consensus estimates of ($0.05). ThredUp had a negative net margin of 6.68% and a negative return on equity of 36.11%. The firm had revenue of $81.67 million during the quarter, compared to analyst estimates of $80.17 million. As a group, analysts predict that ThredUp will post -0.09 EPS for the current year.

About ThredUp

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.