ThredUp (NASDAQ:TDUP) Trading 9.3% Higher - Should You Buy?

Shares of ThredUp Inc. (NASDAQ:TDUP - Get Free Report) rose 9.3% on Monday . The stock traded as high as $7.95 and last traded at $8.01. Approximately 724,315 shares were traded during trading, a decline of 47% from the average daily volume of 1,370,548 shares. The stock had previously closed at $7.33.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TDUP. Northland Capmk upgraded ThredUp to a "strong-buy" rating in a research note on Monday. Wells Fargo & Company restated an "overweight" rating and set a $7.50 price objective (up previously from $6.00) on shares of ThredUp in a research note on Tuesday, May 6th. Northland Securities began coverage on ThredUp in a research note on Monday. They set an "outperform" rating and a $9.00 price objective on the stock. Wall Street Zen upgraded ThredUp from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Telsey Advisory Group upped their price objective on ThredUp from $6.00 to $7.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $7.83.

ThredUp Price Performance

The company's 50 day moving average price is $7.57 and its 200-day moving average price is $4.58. The company has a market cap of $946 million, a price-to-earnings ratio of -13.79 and a beta of 1.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.92 and a current ratio of 0.92.

ThredUp (NASDAQ:TDUP - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $71.29 million during the quarter, compared to analyst estimates of $67.54 million. On average, equities research analysts forecast that ThredUp Inc. will post -0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ThredUp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in shares of ThredUp during the 1st quarter worth about $25,000. CHICAGO TRUST Co NA purchased a new stake in shares of ThredUp during the 1st quarter worth about $30,000. Kapitalo Investimentos Ltda purchased a new stake in shares of ThredUp during the 2nd quarter worth about $96,000. Voya Investment Management LLC bought a new stake in shares of ThredUp during the 1st quarter worth about $51,000. Finally, ProShare Advisors LLC boosted its stake in shares of ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock worth $31,000 after acquiring an additional 7,287 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

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.