ThredUp (NASDAQ:TDUP) Given Buy Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of ThredUp (NASDAQ:TDUP - Free Report) in a research note published on Tuesday, Benzinga reports. They currently have a $5.00 target price on the stock.

Several other equities research analysts have also commented on TDUP. Telsey Advisory Group reiterated an outperform rating and issued a $4.00 price objective on shares of ThredUp in a research report on Wednesday, May 1st. Wedbush reaffirmed an outperform rating and issued a $4.00 price target on shares of ThredUp in a report on Tuesday, March 5th. Finally, The Goldman Sachs Group dropped their price objective on shares of ThredUp from $4.00 to $3.00 and set a neutral rating for the company in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $3.33.

ThredUp Price Performance

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

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings data on Monday, March 4th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm 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 previous year, the business earned ($0.19) earnings per share. On average, equities analysts predict that ThredUp will post -0.46 EPS for the current year.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 109,934 shares of the company's stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $1.91, for a total transaction of $209,973.94. Following the transaction, the director now owns 240,438 shares of the company's stock, valued at $459,236.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 122,905 shares of company stock worth $235,856 over the last ninety days. 34.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

Several institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC increased its holdings in shares of ThredUp by 130.3% during the 3rd quarter. Acadian Asset Management LLC now owns 742,974 shares of the company's stock worth $2,978,000 after buying an additional 420,366 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of ThredUp during the third quarter worth about $48,000. Bourgeon Capital Management LLC purchased a new stake in shares of ThredUp in the third quarter worth about $2,783,000. Boston Partners acquired a new stake in shares of ThredUp in the third quarter valued at about $596,000. Finally, New York State Common Retirement Fund raised its holdings in shares of ThredUp by 2,363.3% during the 3rd quarter. New York State Common Retirement Fund now owns 30,422 shares of the company's stock valued at $122,000 after buying an additional 29,187 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Company Profile

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.