ThredUp (NASDAQ:TDUP) Stock Rating Reaffirmed by Telsey Advisory Group

by · The Cerbat Gem

ThredUp (NASDAQ:TDUP – Get Free Report)‘s stock had its “outperform” rating restated by analysts at Telsey Advisory Group in a research note issued on Tuesday, Benzinga reports. They currently have a $3.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential upside of 320.52% from the company’s previous close.

TDUP has been the topic of several other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $3.33.

Read Our Latest Stock Report on TDUP

ThredUp Trading Up 8.4 %

Shares of TDUP stock opened at $0.71 on Tuesday. The stock has a market cap of $78.66 million, a P/E ratio of -1.21 and a beta of 0.71. ThredUp has a fifty-two week low of $0.61 and a fifty-two week high of $3.80. The business has a fifty day simple moving average of $0.82 and a 200-day simple moving average of $1.40. The company has a quick ratio of 0.92, a current ratio of 1.06 and a debt-to-equity ratio of 0.23.

ThredUp (NASDAQ:TDUP – Get Free Report) last announced its earnings results on Monday, August 5th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). ThredUp had a negative net margin of 19.47% and a negative return on equity of 63.88%. The company had revenue of $79.76 million for the quarter, compared to analyst estimates of $82.58 million. During the same quarter last year, the company posted ($0.18) EPS. On average, analysts forecast that ThredUp will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ThredUp news, Director Noam Paransky purchased 40,008 shares of ThredUp stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $0.81 per share, with a total value of $32,406.48. Following the completion of the transaction, the director now directly owns 586,452 shares in the company, valued at approximately $475,026.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other ThredUp news, Director Noam Paransky bought 40,008 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $0.81 per share, with a total value of $32,406.48. Following the purchase, the director now owns 586,452 shares in the company, valued at approximately $475,026.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Noam Paranksy bought 90,000 shares of ThredUp stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average price of $0.80 per share, for a total transaction of $72,000.00. Following the acquisition, the director now directly owns 246,444 shares in the company, valued at approximately $197,155.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 385,008 shares of company stock valued at $308,906. 34.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

Several hedge funds and other institutional investors have recently bought and sold shares of TDUP. Capital World Investors boosted its stake in shares of ThredUp by 1.5% in the first quarter. Capital World Investors now owns 8,707,600 shares of the company’s stock valued at $17,415,000 after purchasing an additional 127,600 shares during the period. Bares Capital Management Inc. grew its stake in ThredUp by 11.4% in the first quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock worth $7,098,000 after purchasing an additional 362,221 shares in the last quarter. Acadian Asset Management LLC grew its stake in ThredUp by 22.8% in the second quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock worth $2,303,000 after purchasing an additional 251,629 shares in the last quarter. Blair William & Co. IL increased its holdings in ThredUp by 285.0% in the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after buying an additional 674,852 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in ThredUp by 37.4% during the second quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock valued at $1,312,000 after buying an additional 209,792 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.

ThredUp Company Profile

(Get Free Report)

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.

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