ThredUp (NASDAQ:TDUP) Stock Price Up 7.5% – Time to Buy?

ThredUp Inc. (NASDAQ:TDUP)’s share price shot up 7.5% on Wednesday . The company traded as high as $4.73 and last traded at $4.6850. 270,508 shares traded hands during trading, a decline of 89% from the average session volume of 2,360,706 shares. The stock had previously closed at $4.36.

Wall Street Analyst Weigh In

Several brokerages recently commented on TDUP. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. TD Cowen increased their target price on shares of ThredUp from $5.00 to $5.70 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Telsey Advisory Group reduced 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. Finally, Wells Fargo & Company reduced 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. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.14.

ThredUp Stock Up 8.1%

The firm has a 50 day moving average price of $3.98 and a 200-day moving average price of $5.33. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.30. The firm has a market cap of $608.30 million, a PE ratio of -29.34 and a beta of 2.07.

ThredUp (NASDAQ:TDUP) last announced its quarterly earnings data on Monday, May 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The business had revenue of $81.67 million during the quarter, compared to analysts’ expectations of $80.17 million. ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%. Research analysts forecast that ThredUp Inc. will post -0.09 EPS for the current fiscal year.

Insider Activity at ThredUp

In related news, CFO Sean Sobers sold 56,504 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total transaction of $215,845.28. Following the sale, the chief financial officer owned 555,254 shares of the company’s stock, valued at approximately $2,121,070.28. This trade represents a 9.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patricia Nakache acquired 13,157 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was bought at an average cost of $3.73 per share, for a total transaction of $49,075.61. Following the completion of the transaction, the director directly owned 14,017 shares of the company’s stock, valued at approximately $52,283.41. This trade represents a 1,529.88% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 23.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of ThredUp during the second quarter valued at $32,000. R Squared Ltd acquired a new stake in ThredUp in the first quarter worth $34,000. Quarry LP acquired a new position in shares of ThredUp during the third quarter valued at about $37,000. Abel Hall LLC purchased a new position in ThredUp during the first quarter worth about $39,000. Finally, Meeder Asset Management Inc. boosted its holdings in ThredUp by 552.9% during the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock worth $41,000 after purchasing an additional 5,424 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Company Profile

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.