ThredUp (NASDAQ:TDUP) PT Lowered to $3.00 at Wedbush

ThredUp (NASDAQ:TDUP - Free Report) had its price objective lowered by Wedbush from $4.00 to $3.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Wedbush currently has an outperform rating on the stock.

A number of other research analysts also recently commented on TDUP. Telsey Advisory Group reduced their price target on ThredUp from $4.00 to $3.00 and set an outperform rating for the company in a report on Tuesday. Needham & Company LLC reaffirmed a buy rating and set a $5.00 target price on shares of ThredUp in a report on Tuesday. Finally, The Goldman Sachs Group reduced their target price on ThredUp from $4.00 to $3.00 and set a neutral rating on the stock in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $3.33.

ThredUp Stock Up 4.8 %

TDUP traded up $0.09 on Tuesday, reaching $1.95. The company's stock had a trading volume of 1,683,998 shares, compared to its average volume of 544,766. The stock has a market cap of $212.22 million, a price-to-earnings ratio of -2.87 and a beta of 0.71. ThredUp has a 1 year low of $1.52 and a 1 year high of $4.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.22 and a quick ratio of 1.02. The business's 50 day moving average is $1.82 and its 200 day moving average is $2.11.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings results on Monday, March 4th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.01). The business had revenue of $81.39 million during the quarter, compared to analysts' expectations of $80.30 million. ThredUp had a negative net margin of 22.12% and a negative return on equity of 61.27%. During the same period in the prior year, the company posted ($0.19) EPS. As a group, research analysts forecast that ThredUp will post -0.46 EPS for the current fiscal year.

Institutional Trading of ThredUp

A number of institutional investors and hedge funds have recently made changes to their positions in TDUP. FMR LLC raised its position in shares of ThredUp by 28.5% during the 3rd quarter. FMR LLC now owns 6,113,152 shares of the company's stock worth $24,514,000 after purchasing an additional 1,355,607 shares during the period. Bourgeon Capital Management LLC acquired a new stake in ThredUp in the 3rd quarter valued at approximately $2,783,000. EAM Investors LLC acquired a new stake in ThredUp in the 3rd quarter valued at approximately $2,618,000. Kent Lake Capital LLC acquired a new stake in ThredUp in the 3rd quarter valued at approximately $2,509,000. Finally, Capital World Investors increased its position in ThredUp by 6.4% in the 4th quarter. Capital World Investors now owns 8,580,000 shares of the company's stock valued at $19,305,000 after acquiring an additional 516,000 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

About ThredUp

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.