Analysts Set ThredUp Inc. (NASDAQ:TDUP) PT at $11.00

Shares of ThredUp Inc. (NASDAQ:TDUP) have been given an average recommendation of “Moderate Buy” by the six brokerages that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

A number of analysts have issued reports on TDUP shares. Telsey Advisory Group decreased their target price on ThredUp from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Wall Street Zen cut ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ThredUp in a research note on Friday. Finally, Wells Fargo & Company decreased their price objective on ThredUp from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd.

Insiders Place Their Bets

In other news, CFO Sean Sobers sold 56,504 shares of ThredUp stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total value of $215,845.28. Following the completion of the transaction, the chief financial officer owned 555,254 shares in the company, valued at $2,121,070.28. This trade represents a 9.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christopher Homer sold 69,741 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $3.82, for a total transaction of $266,410.62. Following the sale, the chief operating officer owned 1,274,906 shares in the company, valued at $4,870,140.92. The trade was a 5.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 27.00% of the company’s stock.

Institutional Investors Weigh In On ThredUp

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BloombergSen Inc. increased its holdings in ThredUp by 36.9% during the 3rd quarter. BloombergSen Inc. now owns 880,904 shares of the company’s stock worth $8,325,000 after acquiring an additional 237,620 shares during the period. Marshall Wace LLP boosted its holdings in ThredUp by 51.8% in the 2nd quarter. Marshall Wace LLP now owns 4,373,596 shares of the company’s stock valued at $32,758,000 after purchasing an additional 1,492,015 shares during the period. Prudential Financial Inc. grew its position in shares of ThredUp by 3,625.5% during the 2nd quarter. Prudential Financial Inc. now owns 1,231,088 shares of the company’s stock valued at $9,221,000 after purchasing an additional 1,198,043 shares in the last quarter. Vanguard Group Inc. grew its position in shares of ThredUp by 6.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,914,427 shares of the company’s stock valued at $65,341,000 after purchasing an additional 398,865 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in shares of ThredUp by 30.2% in the second quarter. Panagora Asset Management Inc. now owns 630,226 shares of the company’s stock worth $4,720,000 after purchasing an additional 146,245 shares during the period. Institutional investors own 89.08% of the company’s stock.

ThredUp Stock Performance

Shares of TDUP stock opened at $3.28 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a market cap of $416.69 million, a price-to-earnings ratio of -21.87 and a beta of 1.72. ThredUp has a 52 week low of $2.29 and a 52 week high of $12.28. The firm’s 50-day simple moving average is $4.34 and its two-hundred day simple moving average is $6.69.

ThredUp (NASDAQ:TDUP) last released its earnings results on Monday, March 2nd. The company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $79.70 million during the quarter, compared to the consensus estimate of $77.17 million. ThredUp had a negative net margin of 6.50% and a negative return on equity of 34.48%. As a group, equities analysts forecast that ThredUp will post -0.56 earnings per share for the current year.

About ThredUp

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.