ThredUp Inc. (NASDAQ:TDUP) Receives Average Recommendation of “Buy” from Brokerages
Shares of ThredUp Inc. (NASDAQ:TDUP – Get Rating) have received a consensus recommendation of “Buy” from the thirteen brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.33.
A number of research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of ThredUp from $16.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 8th. Wedbush dropped their price objective on shares of ThredUp from $13.00 to $8.00 in a research note on Tuesday, May 10th. Needham & Company LLC dropped their price objective on shares of ThredUp from $25.00 to $10.00 in a research note on Tuesday, May 10th. William Blair restated an “outperform” rating on shares of ThredUp in a research note on Tuesday, May 10th. Finally, Barclays dropped their price target on shares of ThredUp from $14.00 to $9.00 in a research note on Tuesday, May 10th.
TDUP stock opened at $3.51 on Friday. The company’s 50-day simple moving average is $5.55 and its 200-day simple moving average is $8.37. ThredUp has a 52-week low of $3.34 and a 52-week high of $31.32. The company has a quick ratio of 1.90, a current ratio of 2.02 and a debt-to-equity ratio of 0.14. The firm has a market cap of $346.72 million, a P/E ratio of -5.09 and a beta of -0.16.
ThredUp (NASDAQ:TDUP – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The company had revenue of $72.70 million for the quarter, compared to analyst estimates of $71.39 million. ThredUp had a negative return on equity of 33.77% and a negative net margin of 25.19%. ThredUp’s revenue was up 30.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, analysts anticipate that ThredUp will post -0.83 earnings per share for the current fiscal year.
In other ThredUp news, President Anthony Salvatore Marino sold 9,828 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.03, for a total value of $39,606.84. Following the sale, the president now owns 68,536 shares of the company’s stock, valued at $276,200.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James G. Reinhart sold 18,255 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.03, for a total transaction of $73,567.65. Following the completion of the sale, the chief executive officer now directly owns 49,758 shares in the company, valued at approximately $200,524.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,323 shares of company stock worth $250,852. 41.99% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in TDUP. Goldman Sachs Group Inc. purchased a new stake in shares of ThredUp in the fourth quarter valued at about $99,675,000. Upfront Ventures Management LLC acquired a new position in shares of ThredUp in the first quarter valued at approximately $27,907,000. Thrivent Financial for Lutherans acquired a new position in shares of ThredUp in the third quarter valued at approximately $64,309,000. Capital World Investors raised its position in shares of ThredUp by 72.7% in the first quarter. Capital World Investors now owns 6,154,000 shares of the company’s stock valued at $47,386,000 after buying an additional 2,591,000 shares during the last quarter. Finally, Riverbridge Partners LLC acquired a new position in shares of ThredUp in the fourth quarter valued at approximately $28,344,000. 65.20% of the stock is currently owned by institutional investors.
About ThredUp (Get Rating)
ThredUp Inc, together with its subsidiaries, operates online resale platforms that allows consumers to buy and sell secondhand women’s and kids’ apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.
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