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

Shares of ThredUp Inc. (NASDAQ:TDUP) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $6.55.

TDUP has been the subject of a number of research analyst reports. Telsey Advisory Group lowered their target price on ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a research note on Monday. Finally, Roth Capital reiterated a “buy” rating and issued a $6.50 price objective on shares of ThredUp in a report on Thursday, August 6th.

Insiders Place Their Bets

In related news, COO Christopher Homer sold 60,230 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total value of $155,393.40. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Sobers sold 44,559 shares of ThredUp stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $114,962.22. Following the transaction, the chief financial officer directly owned 613,503 shares of the company’s stock, valued at approximately $1,582,837.74. This trade represents a 6.77% decrease in their ownership of the stock. 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. Insiders own 23.10% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new position in shares of ThredUp during the second quarter valued at approximately $320,000. Integrated Wealth Concepts LLC purchased a new stake in shares of ThredUp in the 2nd quarter worth approximately $86,000. IFP Advisors Inc increased its position in ThredUp by 634.8% during the 2nd quarter. IFP Advisors Inc now owns 7,039 shares of the company’s stock valued at $48,000 after buying an additional 6,081 shares in the last quarter. Readystate Asset Management LP increased its position in ThredUp by 197.4% during the 2nd quarter. Readystate Asset Management LP now owns 1,508,736 shares of the company’s stock valued at $10,335,000 after buying an additional 1,001,482 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new position in ThredUp during the second quarter valued at $71,000. Hedge funds and other institutional investors own 89.08% of the company’s stock.

ThredUp Trading Down 2.2%

Shares of TDUP opened at $2.23 on Friday. ThredUp has a 1-year low of $2.21 and a 1-year high of $10.00. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average price is $3.67 and its 200-day moving average price is $4.35. The firm has a market capitalization of $292.87 million, a price-to-earnings ratio of -13.12 and a beta of 1.97.

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

ThredUp Company Profile

ThredUp Inc operates an online resale platform for secondhand clothing, shoes and accessories. Through its marketplace, consumers can buy pre-owned merchandise and list unwanted items for resale. The company handles much of the resale process, including receiving, inspecting, photographing, pricing and fulfilling orders for eligible products.

ThredUp also provides branded resale programs for retailers and apparel companies. These services enable brands to offer customers options such as clothing resale, trade-in and take-back programs through customized digital experiences powered by ThredUp’s infrastructure.