ThredUp (NASDAQ:TDUP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company has raised ThredUp's price target from $10.00 to $13.00, indicating a potential upside of 22.53% from its current price.
• ThredUp stock observed a trading increase of $0.93, reaching $10.61, with a significant trading volume of 2,706,401 shares exchanged.
• The company reported a revenue of $71.29 million for the last quarter, surpassing analyst estimates by $3.75 million, despite a negative net margin of 22.41%.

ThredUp (NASDAQ:TDUP - Get Free Report) had its price target raised by stock analysts at Wells Fargo & Company from $10.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price target suggests a potential upside of 30.00% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Telsey Advisory Group boosted their price target on shares of ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a report on Tuesday. Northland Capmk upgraded shares of ThredUp to a "strong-buy" rating in a report on Monday, July 21st. Northland Securities began coverage on shares of ThredUp in a report on Monday, July 21st. They issued an "outperform" rating and a $9.00 target price for the company. Finally, Wall Street Zen upgraded shares of ThredUp from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, ThredUp currently has an average rating of "Buy" and a consensus target price of $13.00.

ThredUp Stock Up 1.0%

NASDAQ TDUP traded up $0.10 on Tuesday, hitting $10.00. 2,736,043 shares of the stock were exchanged, compared to its average volume of 2,338,225. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 0.27. ThredUp has a fifty-two week low of $0.50 and a fifty-two week high of $11.00. The company has a market cap of $1.18 billion, a PE ratio of -20.41 and a beta of 1.73. The company has a 50-day moving average price of $7.92 and a 200-day moving average price of $5.14.

Insider Activity

In other news, CFO Sean Sobers sold 100,000 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $10.04, for a total value of $1,004,000.00. Following the completion of the transaction, the chief financial officer owned 477,390 shares in the company, valued at approximately $4,792,995.60. This represents a 17.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 27.00% of the company's stock.

Institutional Trading of ThredUp

Several institutional investors and hedge funds have recently bought and sold shares of TDUP. JPMorgan Chase & Co. raised its position in ThredUp by 450.6% in the 4th quarter. JPMorgan Chase & Co. now owns 201,755 shares of the company's stock valued at $280,000 after purchasing an additional 165,115 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in ThredUp in the 4th quarter valued at $521,000. O Shaughnessy Asset Management LLC purchased a new stake in ThredUp in the 4th quarter valued at $64,000. Geode Capital Management LLC raised its position in ThredUp by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,915,620 shares of the company's stock valued at $2,663,000 after purchasing an additional 26,326 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in ThredUp by 32.1% in the 4th quarter. Wells Fargo & Company MN now owns 57,426 shares of the company's stock valued at $80,000 after purchasing an additional 13,941 shares during the last quarter. 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.