ThredUp (NASDAQ:TDUP) Given New $3.00 Price Target at Telsey Advisory Group

ThredUp (NASDAQ:TDUP) had its target price reduced by Telsey Advisory Group from $4.00 to $3.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Telsey Advisory Group currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Wedbush restated an outperform rating and set a $4.00 price target on shares of ThredUp in a research note on Tuesday, March 5th. Needham & Company LLC restated a buy rating and set a $5.00 price objective on shares of ThredUp in a research report on Tuesday. Finally, The Goldman Sachs Group reduced their target price on ThredUp from $4.00 to $3.00 and set a neutral rating for the company in a research report on Thursday, January 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $3.33.

ThredUp Trading Up 4.8 %

Shares of NASDAQ:TDUP opened at $1.95 on Tuesday. ThredUp has a 52-week low of $1.52 and a 52-week high of $4.39. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.02 and a current ratio of 1.22. The company has a market cap of $212.22 million, a P/E ratio of -2.87 and a beta of 0.71. The stock’s 50-day moving average is $1.82 and its 200-day moving average is $2.11.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, March 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $81.39 million during the quarter, compared to analyst estimates of $80.30 million. ThredUp had a negative return on equity of 61.27% and a negative net margin of 22.12%. During the same quarter in the previous year, the business posted ($0.19) EPS. Equities research analysts predict that ThredUp will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 109,934 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $1.91, for a total value of $209,973.94. Following the transaction, the director now directly owns 240,438 shares of the company’s stock, valued at approximately $459,236.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 122,905 shares of company stock valued at $235,856. 34.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ThredUp

Institutional investors have recently modified their holdings of the stock. Capital World Investors raised its position in shares of ThredUp by 6.4% during the fourth quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock worth $19,305,000 after acquiring an additional 516,000 shares during the last quarter. FMR LLC increased its position in ThredUp by 28.5% in the third quarter. FMR LLC now owns 6,113,152 shares of the company’s stock worth $24,514,000 after purchasing an additional 1,355,607 shares during the period. Bares Capital Management Inc. raised its holdings in ThredUp by 6.2% during the 4th quarter. Bares Capital Management Inc. now owns 3,186,579 shares of the company’s stock worth $7,170,000 after purchasing an additional 186,579 shares during the last quarter. Acadian Asset Management LLC lifted its position in ThredUp by 130.3% during the 3rd quarter. Acadian Asset Management LLC now owns 742,974 shares of the company’s stock valued at $2,978,000 after purchasing an additional 420,366 shares during the period. Finally, Bourgeon Capital Management LLC bought a new position in shares of ThredUp in the 3rd quarter valued at about $2,783,000. 89.08% of the stock is owned by institutional investors.

ThredUp Company Profile

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.