Free Trial

ThredUp (NASDAQ:TDUP) Hits New 1-Year High - Here's Why

ThredUp logo with Consumer Staples background

ThredUp Inc. (NASDAQ:TDUP - Get Free Report)'s share price hit a new 52-week high on Tuesday . The stock traded as high as $7.61 and last traded at $7.46, with a volume of 723195 shares. The stock had previously closed at $7.24.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Telsey Advisory Group increased their price target on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Wall Street Zen cut shares of ThredUp from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Needham & Company LLC reissued a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $7.50 price target (up from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th.

Check Out Our Latest Research Report on ThredUp

ThredUp Trading Up 2.5%

The stock has a market capitalization of $904.59 million, a P/E ratio of -11.95 and a beta of 1.51. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.86. The business's 50 day simple moving average is $4.91 and its 200-day simple moving average is $3.02.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its 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 company had revenue of $71.29 million for the quarter, compared to analyst estimates of $67.54 million. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. As a group, analysts forecast that ThredUp Inc. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In related news, Director Patricia Nakache sold 212,842 shares of the firm's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $3.32, for a total transaction of $706,635.44. Following the sale, the director now directly owns 250,956 shares in the company, valued at $833,173.92. This trade represents a 45.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 811,860 shares of company stock worth $2,592,099. Company insiders own 27.00% of the company's stock.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. acquired a new stake in ThredUp in the 1st quarter valued at $2,338,000. Blair William & Co. IL increased its stake in ThredUp by 46.3% in the 1st quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock valued at $7,157,000 after buying an additional 939,449 shares during the last quarter. Marshall Wace LLP grew its position in shares of ThredUp by 134.5% in the 4th quarter. Marshall Wace LLP now owns 1,521,138 shares of the company's stock valued at $2,114,000 after acquiring an additional 872,357 shares during the period. BloombergSen Inc. grew its position in shares of ThredUp by 98.5% in the 1st quarter. BloombergSen Inc. now owns 1,269,649 shares of the company's stock valued at $3,060,000 after acquiring an additional 630,101 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of ThredUp by 75.2% in the 4th quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock valued at $1,360,000 after acquiring an additional 420,012 shares during the period. 89.08% of the stock is currently owned by institutional investors and hedge funds.

ThredUp Company Profile

(Get Free Report)

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.

See Also

Should You Invest $1,000 in ThredUp Right Now?

Before you consider ThredUp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ThredUp wasn't on the list.

While ThredUp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

12 Stocks Corporate Insiders are Abandoning Cover

If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Top 3 Defense Stocks to Profit From $175 Billion Golden Dome
Top 5 Stocks for June: AI Picks That Aren’t NVIDIA
This Unique Robotaxi Play Could Deliver 10X Returns

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines