ThredUp (NASDAQ:TDUP) Price Target Raised to $13.00 at Wells Fargo & Company

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 upped by Wells Fargo & Company from $10.00 to $13.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 22.53% from the company's current price.

TDUP has been the topic of several other reports. Northland Capmk raised shares of ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Wall Street Zen raised shares of ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Northland Securities initiated coverage on shares of ThredUp in a research report on Monday, July 21st. They issued an "outperform" rating and a $9.00 target price for the company. Finally, Telsey Advisory Group raised their target price on shares of ThredUp from $9.00 to $12.00 and gave the company an "outperform" rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, ThredUp currently has an average rating of "Buy" and an average target price of $11.33.

ThredUp Price Performance

Shares of TDUP stock traded up $0.93 during trading hours on Tuesday, reaching $10.61. 2,706,401 shares of the company were exchanged, compared to its average volume of 1,852,780. ThredUp has a fifty-two week low of $0.50 and a fifty-two week high of $11.00. The stock's fifty day moving average is $7.69 and its two-hundred day moving average is $4.94. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -18.19 and a beta of 1.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.92 and a quick ratio of 0.92.

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

Institutional Trading of ThredUp

Hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new stake in shares of ThredUp during the 1st quarter worth about $25,000. CHICAGO TRUST Co NA acquired a new stake in ThredUp in the 1st quarter worth about $30,000. Kapitalo Investimentos Ltda acquired a new stake in ThredUp in the 2nd quarter worth about $96,000. Voya Investment Management LLC acquired a new stake in ThredUp in the 1st quarter worth about $51,000. Finally, ProShare Advisors LLC raised its stake in ThredUp by 49.0% in the 4th 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. 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.

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