ThredUp Inc. (NASDAQ:TDUP) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• ThredUp has a “Moderate Buy” consensus rating from six analysts, with three buys, one strong buy, one hold and one sell. The average 12-month price target is $9.14, although several firms recently lowered their targets.
• Shares opened at $5.78 and were down 1.5%, with a market capitalization of approximately $745.9 million. ThredUp reported quarterly revenue of $81.67 million and an adjusted loss of $0.05 per share, matching analyst expectations.
• Company insiders sold shares to cover tax obligations tied to vested equity awards, while insiders retain 23.10% ownership. Hedge funds and institutional investors own 89.08% of the stock.

Shares of ThredUp Inc. (NASDAQ:TDUP - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.14.

A number of research analysts have issued reports on TDUP shares. Wells Fargo & Company lowered their price objective on ThredUp from $10.00 to $8.00 and set an "overweight" rating for the company in a research note on Tuesday, May 5th. Telsey Advisory Group cut their target price on ThredUp from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 5th. Weiss Ratings restated a "sell (e+)" rating on shares of ThredUp in a report on Wednesday, June 24th. Finally, TD Cowen lifted their price target on ThredUp from $5.00 to $5.70 and gave the stock a "buy" rating in a research report on Tuesday, May 5th.

Insider Transactions at ThredUp

In other news, CFO Sean Sobers sold 45,554 shares of the company's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total value of $201,804.22. Following the transaction, the chief financial officer owned 572,523 shares in the company, valued at approximately $2,536,276.89. This represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Christopher Homer sold 61,578 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $4.43, for a total transaction of $272,790.54. Following the sale, the chief operating officer owned 1,301,843 shares in the company, valued at approximately $5,767,164.49. The trade was a 4.52% decrease in their position. 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 currently owned by company insiders.

Hedge Funds Weigh In On ThredUp

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP bought a new position in ThredUp in the 3rd quarter valued at approximately $37,000. Raymond James Financial Inc. bought a new stake in shares of ThredUp in the 2nd quarter worth $32,000. Meeder Asset Management Inc. increased its holdings in shares of ThredUp by 552.9% in the 4th quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company's stock worth $41,000 after purchasing an additional 5,424 shares in the last quarter. R Squared Ltd purchased a new position in shares of ThredUp in the first quarter worth $34,000. Finally, Versor Investments LP purchased a new position in shares of ThredUp in the fourth quarter worth $70,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

ThredUp Stock Down 1.5%

NASDAQ:TDUP opened at $5.78 on Friday. ThredUp has a 1-year low of $3.08 and a 1-year high of $12.28. The firm's 50-day moving average price is $5.83 and its 200-day moving average price is $4.88. The company has a market capitalization of $745.85 million, a PE ratio of -36.12 and a beta of 1.97. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.95 and a quick ratio of 0.95.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). The firm had revenue of $81.67 million for the quarter, compared to analysts' expectations of $80.17 million. ThredUp had a negative return on equity of 36.11% and a negative net margin of 6.68%. On average, equities analysts predict that ThredUp will post -0.09 EPS for the current fiscal year.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp's in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.

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