ThredUp (NASDAQ:TDUP) Hits New 12-Month High - Should You Buy?

ThredUp Inc. (NASDAQ:TDUP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.26 and last traded at $7.18, with a volume of 2085329 shares trading hands. The stock had previously closed at $6.99.

Analyst Upgrades and Downgrades

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

ThredUp Stock Performance

The stock has a market cap of $872.66 million, a PE ratio of -11.53 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 firm has a 50 day moving average of $4.26 and a two-hundred day moving average of $2.72.

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 analysts' consensus estimates of ($0.07) by $0.03. ThredUp had a negative net margin of 22.16% and a negative return on equity of 78.74%. The firm had revenue of $71.29 million during the quarter, compared to analysts' expectations of $67.54 million. Research analysts predict that ThredUp Inc. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Patricia Nakache sold 91,070 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $2.48, for a total value of $225,853.60. Following the completion of the transaction, the director now directly owns 250,956 shares of the company's stock, valued at $622,370.88. The trade was a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 811,860 shares of company stock valued at $2,592,099. 27.00% of the stock is owned by insiders.

Institutional Trading of ThredUp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new stake in shares of ThredUp in the first quarter worth $25,000. CHICAGO TRUST Co NA bought a new stake in shares of ThredUp in the first quarter worth $30,000. ProShare Advisors LLC grew its stake in ThredUp by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after purchasing an additional 7,287 shares in the last quarter. Virtu Financial LLC bought a new stake in ThredUp during the fourth quarter valued at $33,000. Finally, Cubist Systematic Strategies LLC bought a new stake in ThredUp in the fourth quarter valued at $48,000. Hedge funds and other institutional investors 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.