ThredUp (NASDAQ:TDUP) Now Covered by Analysts at TD Cowen

Equities research analysts at TD Cowen began coverage on shares of ThredUp (NASDAQ:TDUP) in a report issued on Friday, Zacks reports. The brokerage set a “strong-buy” rating on the stock.

Several other research analysts have also issued reports on the company. Roth Capital reissued a “buy” rating and issued a $6.50 target price on shares of ThredUp in a research report on Thursday, August 6th. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research note on Monday, September 21st. Finally, Telsey Advisory Group dropped their price target on ThredUp from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $6.55.

ThredUp Price Performance

TDUP stock opened at $2.08 on Friday. ThredUp has a 1 year low of $1.91 and a 1 year high of $8.83. The company has a market cap of $273.17 million, a P/E ratio of -12.23 and a beta of 2.11. The firm has a 50-day moving average of $2.40 and a 200 day moving average of $4.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.99.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). The company had revenue of $90.77 million during the quarter, compared to analysts’ expectations of $90.34 million. ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. On average, sell-side analysts forecast that ThredUp will post -0.17 EPS for the current year.

Insider Activity at ThredUp

In other news, CFO Sean Sobers sold 44,559 shares of ThredUp stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $114,962.22. Following the sale, the chief financial officer owned 613,503 shares in the company, valued at $1,582,837.74. This trade represents a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 ThredUp stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $2.58, for a total value of $155,393.40. Following the completion of the sale, the chief operating officer directly owned 1,363,358 shares in the company, valued at $3,517,463.64. This trade represents a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 company insiders.

Institutional Trading of ThredUp

A number of large investors have recently made changes to their positions in TDUP. IFP Advisors Inc grew its stake in ThredUp by 634.8% in the second quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock worth $48,000 after purchasing an additional 6,081 shares in the last quarter. HB Wealth Management LLC purchased a new position in ThredUp in the second quarter valued at about $71,000. R Squared Ltd purchased a new position in shares of ThredUp in the 1st quarter worth approximately $34,000. Abel Hall LLC acquired a new position in shares of ThredUp during the first quarter worth $39,000. Finally, Integrated Wealth Concepts LLC acquired a new position in ThredUp during the 2nd quarter valued at about $86,000. 89.08% of the stock is owned by hedge funds and other institutional investors.

About ThredUp

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.