ThredUp (NASDAQ:TDUP) Coverage Initiated by Analysts at Northland Securities

Analysts at Northland Securities began coverage on shares of ThredUp (NASDAQ:TDUP - Get Free Report) in a note issued to investors on Monday. The brokerage set an "outperform" rating and a $9.00 price target on the stock. Northland Securities' price objective would suggest a potential upside of 16.20% from the company's current price.

Several other equities research analysts also recently commented on the stock. Telsey Advisory Group upped their price objective on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $7.50 target price (up previously from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, ThredUp currently has a consensus rating of "Moderate Buy" and a consensus price target of $7.83.

ThredUp Stock Up 5.7%

TDUP stock traded up $0.42 during midday trading on Monday, reaching $7.75. 265,910 shares of the company's stock traded hands, compared to its average volume of 1,368,641. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.31. The company has a market cap of $915.85 million, a price-to-earnings ratio of -13.33 and a beta of 1.73. The firm's fifty day moving average price is $7.43 and its 200-day moving average price is $4.44. ThredUp has a 52 week low of $0.50 and a 52 week high of $8.75.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.03. The firm had revenue of $71.29 million for the quarter, compared to the consensus estimate of $67.54 million. ThredUp had a negative net margin of 22.41% and a negative return on equity of 77.03%. As a group, sell-side analysts forecast that ThredUp will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ThredUp

A number of large investors have recently made changes to their positions in TDUP. Kapitalo Investimentos Ltda bought a new stake in ThredUp in the second quarter valued at $96,000. Byrne Asset Management LLC bought a new stake in ThredUp in the second quarter valued at $974,000. Voya Investment Management LLC bought a new stake in ThredUp in the first quarter valued at $51,000. Rhumbline Advisers boosted its holdings in ThredUp by 3.0% in the first quarter. Rhumbline Advisers now owns 100,182 shares of the company's stock valued at $241,000 after acquiring an additional 2,928 shares in the last quarter. Finally, Diker Management LLC boosted its holdings in ThredUp by 5.6% in the first quarter. Diker Management LLC now owns 125,155 shares of the company's stock valued at $302,000 after acquiring an additional 6,655 shares in the last quarter. 89.08% of the stock is currently owned by institutional investors.

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.

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