ThredUp (NASDAQ:TDUP) Hits New 12-Month High - Here's Why

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) hit 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 traded. The stock had previously closed at $8.47.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TDUP. Northland Securities set a $14.00 price target on ThredUp in a research report on Tuesday. Telsey Advisory Group raised their price target on ThredUp from $9.00 to $12.00 and gave the stock an "outperform" rating in a research report on Tuesday. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research report on Monday, July 21st. Wall Street Zen upgraded ThredUp from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Finally, Wells Fargo & Company raised their price target on ThredUp from $10.00 to $13.00 and gave the stock an "overweight" rating in a research report on Tuesday. One 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $13.00.

ThredUp Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 0.96 and a quick ratio of 0.92. The stock has a 50-day simple moving average of $7.92 and a 200-day simple moving average of $5.12. The stock has a market cap of $1.18 billion, a P/E ratio of -20.41 and a beta of 1.73.

ThredUp (NASDAQ:TDUP - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.03. ThredUp had a negative return on equity of 71.49% and a negative net margin of 19.66%. The firm had revenue of $71.29 million for the quarter, compared to analysts' expectations of $67.54 million. Research analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current year.

Insider Transactions at ThredUp

In other ThredUp news, CFO Sean Sobers sold 100,000 shares of ThredUp stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $10.04, for a total value of $1,004,000.00. Following the transaction, the chief financial officer owned 477,390 shares in the company, valued at $4,792,995.60. The trade was a 17.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 27.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TDUP. Needham Investment Management LLC increased its stake in shares of ThredUp by 2.7% in the fourth quarter. Needham Investment Management LLC now owns 6,367,500 shares of the company's stock valued at $8,851,000 after buying an additional 167,500 shares during the period. FIL Ltd boosted its position in ThredUp by 0.8% during the 4th quarter. FIL Ltd now owns 3,400,000 shares of the company's stock worth $4,726,000 after buying an additional 27,000 shares during the period. Blair William & Co. IL boosted its position in ThredUp by 46.3% during the 1st quarter. Blair William & Co. IL now owns 2,969,725 shares of the company's stock worth $7,157,000 after buying an additional 939,449 shares during the period. Acadian Asset Management LLC boosted its position in ThredUp by 12.9% during the 1st quarter. Acadian Asset Management LLC now owns 2,452,349 shares of the company's stock worth $5,905,000 after buying an additional 279,799 shares during the period. Finally, Geode Capital Management LLC boosted its position in ThredUp by 12.0% during the 2nd quarter. Geode Capital Management LLC now owns 2,217,721 shares of the company's stock worth $16,614,000 after buying an additional 238,129 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.