Wall Street Zen Upgrades 1stdibs.com (NASDAQ:DIBS) to Buy

Key Points

• Wall Street Zen upgraded 1stdibs.com from “Hold” to “Buy,” while Weiss Ratings moved its rating from “Sell (e+)” to “Sell (d-).” The overall analyst consensus remains “Hold,” with an average price target of $7.00.
• 1stdibs.com reported quarterly revenue of $23.32 million and an adjusted loss of $0.03 per share, beating analysts’ estimates of $22.23 million in revenue and a $0.06 per-share loss.
• The stock opened at $4.04, with a market capitalization of approximately $135.8 million; institutional investors own 66.97% of the company, and Kanen Wealth Management increased its stake by 75.8%.

1stdibs.com (NASDAQ:DIBS - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings raised 1stdibs.com from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $7.00.

1stdibs.com Price Performance

NASDAQ:DIBS opened at $4.04 on Friday. 1stdibs.com has a one year low of $2.50 and a one year high of $6.62. The company's 50-day simple moving average is $4.55 and its 200 day simple moving average is $4.83. The firm has a market capitalization of $135.82 million, a P/E ratio of -18.36 and a beta of 0.80.

1stdibs.com (NASDAQ:DIBS - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.06) by $0.03. 1stdibs.com had a negative net margin of 8.54% and a negative return on equity of 8.97%. The business had revenue of $23.32 million during the quarter, compared to the consensus estimate of $22.23 million. On average, equities research analysts expect that 1stdibs.com will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 1stdibs.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC bought a new stake in shares of 1stdibs.com in the 2nd quarter worth $389,000. Public Employees Retirement System of Ohio purchased a new position in shares of 1stdibs.com in the second quarter worth $55,000. Bank of New York Mellon Corp bought a new position in shares of 1stdibs.com during the second quarter valued at $316,000. Kanen Wealth Management LLC lifted its holdings in shares of 1stdibs.com by 75.8% during the first quarter. Kanen Wealth Management LLC now owns 2,068,723 shares of the company's stock valued at $11,378,000 after purchasing an additional 891,801 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of 1stdibs.com by 3.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 522,695 shares of the company's stock valued at $2,875,000 after buying an additional 18,911 shares during the last quarter. 66.97% of the stock is owned by institutional investors.

1stdibs.com Company Profile

1stDibs.com, Inc operates a global online marketplace for luxury design products and other high-end goods. Its platform connects consumers, interior designers, architects, and trade professionals with a network of dealers, galleries, and sellers offering merchandise across categories such as furniture, home décor, jewelry, watches, art, and fashion.

The company provides digital tools that enable sellers to display and market their inventory while helping buyers discover, evaluate, and purchase distinctive and often vintage or collectible products.

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