ThredUp (NASDAQ:TDUP) Sets New 52-Week High - Should You Buy?

Key Points

• ThredUp's stock price reached a new 52-week high of $8.89 during trading, with a significant volume of 3,691 shares exchanged.
• Multiple analysts have upgraded ThredUp's rating, with Northland Capital Markets giving it a "strong-buy" and a $9.00 price target, contributing to a consensus rating of "Buy".
• ThredUp reported earnings of ($0.04) per share, surpassing estimates, and generated $71.29 million in revenue, indicating a positive trajectory for the company despite a negative return on equity.

ThredUp Inc. (NASDAQ:TDUP - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as $8.74 and last traded at $8.89, with a volume of 3691 shares. The stock had previously closed at $8.47.

Analyst Upgrades and Downgrades

TDUP has been the topic of a number of recent research reports. Northland Capmk raised ThredUp to a "strong-buy" rating in a research note on Monday, July 21st. Northland Securities set a $14.00 target price on ThredUp in a research note on Tuesday. Telsey Advisory Group increased their target price on ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wall Street Zen raised ThredUp from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Wells Fargo & Company increased their target price on ThredUp from $10.00 to $13.00 and gave the stock an "overweight" rating in a research note on Tuesday. 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 company. Based on data from MarketBeat, ThredUp presently has a consensus rating of "Buy" and an average price target of $13.00.

ThredUp Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $1.19 billion, a PE ratio of -20.46 and a beta of 1.73. The firm has a 50-day moving average of $7.75 and a 200 day moving average of $4.97.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.03. ThredUp had a negative return on equity of 71.39% and a negative net margin of 19.66%. The company had revenue of $71.29 million for the quarter, compared to analysts' expectations of $67.54 million. As a group, research analysts anticipate that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TDUP. Tocqueville Asset Management L.P. bought a new position in ThredUp in the first quarter valued at about $2,338,000. 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 valued at $7,157,000 after acquiring an additional 939,449 shares during the period. Marshall Wace LLP lifted its holdings in ThredUp by 134.5% in the fourth 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. lifted its holdings in ThredUp by 98.5% in the first 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 raised its stake in shares of ThredUp by 75.2% in the fourth quarter. Renaissance Technologies LLC now owns 978,745 shares of the company's stock worth $1,360,000 after buying an additional 420,012 shares during the period. 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.