ThredUp (NASDAQ:TDUP) Receives “Outperform” Rating from Telsey Advisory Group

Telsey Advisory Group reiterated their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research note published on Wednesday, Benzinga reports. They currently have a $3.00 price objective on the stock.

Several other research analysts have also recently weighed in on the company. Wedbush reduced their price objective on ThredUp from $4.00 to $3.00 and set an outperform rating for the company in a research report on Tuesday, May 7th. Needham & Company LLC reaffirmed a buy rating and set a $5.00 price target on shares of ThredUp in a research report on Tuesday, May 7th. 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 data from MarketBeat.com, ThredUp currently has an average rating of Moderate Buy and an average price target of $3.33.

ThredUp Stock Performance

Shares of TDUP opened at $1.84 on Wednesday. The firm has a market cap of $202.33 million, a P/E ratio of -2.87 and a beta of 0.79. ThredUp has a twelve month low of $1.51 and a twelve month high of $4.39. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.98 and a current ratio of 1.13. The firm’s 50 day moving average price is $1.85 and its two-hundred day moving average price is $1.91.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings data on Monday, May 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $79.59 million for the quarter, compared to analyst estimates of $80.28 million. ThredUp had a negative return on equity of 63.62% and a negative net margin of 20.88%. On average, analysts forecast that ThredUp will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 45,465 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $2.06, for a total value of $93,657.90. Following the completion of the sale, the director now owns 250,956 shares of the company’s stock, valued at approximately $516,969.36. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other ThredUp news, insider Alon Rotem sold 23,042 shares of the company’s stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $2.01, for a total value of $46,314.42. Following the sale, the insider now owns 218,348 shares in the company, valued at $438,879.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Patricia Nakache sold 45,465 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $2.06, for a total value of $93,657.90. Following the completion of the sale, the director now directly owns 250,956 shares of the company’s stock, valued at $516,969.36. The disclosure for this sale can be found here. Insiders have sold 774,453 shares of company stock valued at $1,522,231 in the last 90 days. 34.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ThredUp

Several hedge funds have recently added to or reduced their stakes in the business. Capital World Investors increased its holdings in shares of ThredUp by 6.4% in the fourth quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock valued at $19,305,000 after purchasing an additional 516,000 shares during the last quarter. Bares Capital Management Inc. grew its stake in ThredUp by 11.4% in the 1st quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock valued at $7,098,000 after buying an additional 362,221 shares during the last quarter. Blair William & Co. IL raised its holdings in ThredUp by 702.7% in the 1st quarter. Blair William & Co. IL now owns 236,800 shares of the company’s stock valued at $474,000 after acquiring an additional 207,300 shares during the period. PEAK6 Investments LLC acquired a new position in shares of ThredUp in the first quarter valued at approximately $328,000. Finally, Privium Fund Management B.V. increased its stake in shares of ThredUp by 136.2% during the second quarter. Privium Fund Management B.V. now owns 217,565 shares of the company’s stock worth $346,000 after purchasing an additional 125,465 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

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.