ThredUp (NASDAQ:TDUP) Price Target Lowered to $3.00 at Wedbush

ThredUp (NASDAQ:TDUP) had its target price reduced by Wedbush from $4.00 to $3.00 in a research note published on Tuesday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other equities research analysts have also recently commented on TDUP. Telsey Advisory Group decreased their price objective on ThredUp from $4.00 to $3.00 and set an outperform rating for the company in a research note on Tuesday. Needham & Company LLC restated a buy rating and set a $5.00 target price on shares of ThredUp in a research report on Tuesday. Finally, The Goldman Sachs Group cut their price target on shares of ThredUp from $4.00 to $3.00 and set a neutral rating on the stock 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $3.33.

ThredUp Stock Performance

ThredUp stock opened at $1.95 on Tuesday. The company has a market cap of $212.22 million, a PE ratio of -2.87 and a beta of 0.71. The company has a current ratio of 1.22, a quick ratio of 1.02 and a debt-to-equity ratio of 0.21. ThredUp has a 1 year low of $1.52 and a 1 year high of $4.39. The company’s 50-day moving average is $1.82 and its two-hundred 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 for the quarter, missing the consensus estimate of ($0.13) by ($0.01). ThredUp had a negative net margin of 22.12% and a negative return on equity of 61.27%. The business had revenue of $81.39 million during the quarter, compared to analyst estimates of $80.30 million. During the same quarter in the prior year, the company earned ($0.19) earnings per share. Equities analysts anticipate that ThredUp will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other ThredUp news, Director Patricia Nakache sold 109,934 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $1.91, for a total value of $209,973.94. Following the completion of the sale, the director now directly owns 240,438 shares in the company, valued at $459,236.58. The sale was disclosed in a filing 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 worth $235,856. Corporate insiders own 34.42% of the company’s stock.

Institutional Trading of ThredUp

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in shares of ThredUp by 29.4% during the fourth quarter. SG Americas Securities LLC now owns 35,211 shares of the company’s stock worth $79,000 after acquiring an additional 7,997 shares during the period. Johnson Investment Counsel Inc. acquired a new stake in shares of ThredUp in the 3rd quarter valued at about $41,000. Blair William & Co. IL bought a new stake in shares of ThredUp in the third quarter valued at about $48,000. Tower Research Capital LLC TRC boosted its position in shares of ThredUp by 445.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,376 shares of the company’s stock worth $37,000 after buying an additional 13,372 shares during the period. Finally, Ieq Capital LLC grew its holdings in shares of ThredUp by 35.7% during the fourth quarter. Ieq Capital LLC now owns 54,408 shares of the company’s stock worth $122,000 after buying an additional 14,326 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

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.