ThredUp (NASDAQ:TDUP) Earns Outperform Rating from Analysts at Northland Securities

Northland Securities assumed coverage on shares of ThredUp (NASDAQ:TDUP - Get Free Report) in a research note issued to investors on Monday, Marketbeat Ratings reports. 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 9.29% from the company's current price.

Other research analysts have also recently issued reports about the company. Wall Street Zen upgraded ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Telsey Advisory Group lifted their price target on ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $7.50 price target (up from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $7.83.

ThredUp Stock Down 1.7%

NASDAQ TDUP traded down $0.15 during trading on Monday, hitting $8.24. The company's stock had a trading volume of 538,296 shares, compared to its average volume of 1,809,408. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market cap of $973.79 million, a PE ratio of -14.20 and a beta of 1.73. The business's 50 day simple moving average is $7.54 and its 200-day simple moving average is $4.54. ThredUp has a fifty-two week low of $0.50 and a fifty-two week high of $8.74.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The business had revenue of $71.29 million during the quarter, compared to the consensus estimate of $67.54 million. ThredUp had a negative return on equity of 77.03% and a negative net margin of 22.41%. On average, equities analysts anticipate that ThredUp will post -0.56 EPS for the current fiscal year.

Hedge Funds Weigh In On ThredUp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDUP. Tocqueville Asset Management L.P. purchased a new stake in shares of ThredUp in the 1st quarter valued at $2,338,000. Blair William & Co. IL increased its holdings in ThredUp by 46.3% during the 1st quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock worth $7,157,000 after purchasing an additional 939,449 shares during the period. Marshall Wace LLP increased its holdings in ThredUp by 134.5% during the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock worth $2,114,000 after purchasing an additional 872,357 shares during the period. BloombergSen Inc. increased its holdings in ThredUp by 98.5% during the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock worth $3,060,000 after purchasing an additional 630,101 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in ThredUp by 75.2% during the 4th quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock worth $1,360,000 after purchasing an additional 420,012 shares during the period. Institutional investors and hedge funds own 89.08% of the company's stock.

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.