ThredUp (NASDAQ:TDUP) Rating Increased to Strong-Buy at Northland Capmk

ThredUp (NASDAQ:TDUP - Get Free Report) was upgraded by analysts at Northland Capmk to a "strong-buy" rating in a research report issued on Monday,Zacks.com reports.

TDUP has been the subject of a number of other reports. Wall Street Zen upgraded shares of ThredUp from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Wells Fargo & Company reaffirmed 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. Northland Securities started coverage on shares of ThredUp in a research report on Monday. They set an "outperform" rating and a $9.00 price target on the stock. Finally, Telsey Advisory Group lifted their price target on shares of ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ThredUp currently has a consensus rating of "Buy" and a consensus target price of $7.83.

ThredUp Stock Performance

NASDAQ:TDUP opened at $8.38 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $7.43 and a two-hundred day moving average price of $4.44. ThredUp has a twelve month low of $0.50 and a twelve month high of $8.75. The company has a market capitalization of $990.94 million, a P/E ratio of -14.45 and a beta of 1.73.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates 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 net margin of 22.41% and a negative return on equity of 77.03%. As a group, research analysts expect that ThredUp will post -0.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ThredUp

Several institutional investors have recently modified their holdings of TDUP. Needham Investment Management LLC lifted its holdings in ThredUp by 2.7% in the fourth quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company's stock worth $8,851,000 after purchasing an additional 167,500 shares during the period. FIL Ltd lifted its holdings in ThredUp by 0.8% in the fourth quarter. FIL Ltd now owns 3,400,000 shares of the company's stock worth $4,726,000 after purchasing an additional 27,000 shares during the period. Blair William & Co. IL lifted its holdings in ThredUp by 46.3% in the first 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. Acadian Asset Management LLC lifted its holdings in ThredUp by 12.9% in the first quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company's stock worth $5,905,000 after purchasing an additional 279,799 shares during the period. Finally, Geode Capital Management LLC lifted its holdings 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 acquiring an additional 26,326 shares during the last quarter. 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.

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