ThredUp (NASDAQ:TDUP) Price Target Raised to $5.50

ThredUp (NASDAQ:TDUP) had its price target boosted by TD Cowen from $5.00 to $5.50 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company reduced their price objective on ThredUp from $13.00 to $10.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Telsey Advisory Group reduced their price target on ThredUp from $12.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ThredUp presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.90.

ThredUp Stock Up 4.4%

TDUP stock opened at $4.48 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $569.14 million, a P/E ratio of -29.86 and a beta of 2.07. The business has a 50-day moving average of $3.91 and a 200-day moving average of $5.88. ThredUp has a fifty-two week low of $3.08 and a fifty-two week high of $12.28.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). The company had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $77.17 million. ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%. On average, sell-side analysts anticipate that ThredUp will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Christopher Homer sold 69,741 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total value of $266,410.62. Following the completion of the sale, the chief operating officer directly owned 1,274,906 shares of the company’s stock, valued at $4,870,140.92. This trade represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Patricia Nakache acquired 13,157 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was acquired at an average cost of $3.73 per share, with a total value of $49,075.61. Following the completion of the transaction, the director owned 14,017 shares of the company’s stock, valued at approximately $52,283.41. The trade was a 1,529.88% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 23.10% of the company’s stock.

Institutional Trading of ThredUp

Hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of ThredUp in the third quarter valued at approximately $37,000. Raymond James Financial Inc. acquired a new stake in shares of ThredUp in the second quarter valued at approximately $32,000. State of Alaska Department of Revenue acquired a new stake in shares of ThredUp in the third quarter valued at approximately $55,000. Meeder Asset Management Inc. lifted its position in shares of ThredUp by 552.9% in the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after buying an additional 5,424 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of ThredUp during the first quarter worth approximately $34,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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.