ThredUp Inc. (NASDAQ:TDUP) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts give ThredUp a “Moderate Buy” consensus: Four of five analysts recommend buying the stock, while one rates it a sell. The average 12-month price target is $6.55, versus a recent price of $2.48.
• ThredUp’s latest quarterly results missed expectations on earnings, reporting a loss of $0.05 per share versus the anticipated $0.03 loss, although revenue of $90.77 million slightly exceeded estimates.
• Company insiders sold shares to cover tax withholding tied to vested equity awards, while institutional investors own a substantial 89.08% of ThredUp’s stock.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the five research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $6.55.

TDUP has been the subject of several research analyst reports. Weiss Ratings restated a "sell (e+)" rating on shares of ThredUp in a research note on Wednesday, June 24th. Telsey Advisory Group cut their price target on shares of ThredUp from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Finally, Roth Capital reissued a "buy" rating and set a $6.50 price target on shares of ThredUp in a research report on Thursday, August 6th.

Insider Buying and Selling at ThredUp

In related news, CFO Sean Sobers sold 44,559 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $114,962.22. Following the completion of the transaction, the chief financial officer directly owned 613,503 shares in the company, valued at $1,582,837.74. The trade was a 6.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 60,230 shares of the company's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $2.58, for a total transaction of $155,393.40. Following the completion of the sale, the chief operating officer directly owned 1,363,358 shares in the company, valued at approximately $3,517,463.64. The trade was a 4.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 23.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

A number of institutional investors have recently modified their holdings of TDUP. AXQ Capital LP boosted its stake in shares of ThredUp by 16.8% in the fourth quarter. AXQ Capital LP now owns 40,498 shares of the company's stock worth $259,000 after buying an additional 5,825 shares during the last quarter. IFP Advisors Inc grew its holdings in ThredUp by 634.8% during the second quarter. IFP Advisors Inc now owns 7,039 shares of the company's stock worth $48,000 after acquiring an additional 6,081 shares during the period. Diker Management LLC raised its position in ThredUp by 6.3% during the fourth quarter. Diker Management LLC now owns 152,555 shares of the company's stock valued at $975,000 after acquiring an additional 9,000 shares in the last quarter. HB Wealth Management LLC purchased a new position in ThredUp during the second quarter valued at approximately $71,000. Finally, R Squared Ltd purchased a new position in ThredUp during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 89.08% of the company's stock.

ThredUp Price Performance

NASDAQ TDUP opened at $2.48 on Friday. The company has a market cap of $325.70 million, a price-to-earnings ratio of -14.59 and a beta of 1.97. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.99. The stock's fifty day moving average price is $4.00 and its 200 day moving average price is $4.39. ThredUp has a 1 year low of $2.36 and a 1 year high of $10.82.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). The firm had revenue of $90.77 million for the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative return on equity of 37.30% and a negative net margin of 6.65%. As a group, equities research analysts forecast that ThredUp will post -0.17 earnings per share for the current year.

About ThredUp

ThredUp Inc operates an online resale platform for secondhand clothing, shoes and accessories. Through its marketplace, consumers can buy pre-owned merchandise and list unwanted items for resale. The company handles much of the resale process, including receiving, inspecting, photographing, pricing and fulfilling orders for eligible products.

ThredUp also provides branded resale programs for retailers and apparel companies. These services enable brands to offer customers options such as clothing resale, trade-in and take-back programs through customized digital experiences powered by ThredUp's infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.