ThredUp (NASDAQ:TDUP) Upgraded by Wall Street Zen to "Buy" Rating

Wall Street Zen upgraded shares of ThredUp (NASDAQ:TDUP - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Other equities research analysts have also issued reports about the company. Wells Fargo & Company reissued an "overweight" rating and issued a $7.50 price target (up from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research note on Tuesday, March 4th.

ThredUp Price Performance

Shares of NASDAQ:TDUP remained flat at $7.66 during trading on Friday. The stock had a trading volume of 1,459,399 shares, compared to its average volume of 1,153,207. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. ThredUp has a one year low of $0.50 and a one year high of $7.90. The stock has a fifty day moving average price of $5.42 and a two-hundred day moving average price of $3.24. The stock has a market capitalization of $905.77 million, a price-to-earnings ratio of -11.97 and a beta of 1.75.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.04) earnings per share for the quarter, topping analysts' consensus estimates of ($0.07) by $0.03. The company had revenue of $71.29 million for the quarter, compared to analyst estimates of $67.54 million. ThredUp had a negative return on equity of 78.74% and a negative net margin of 22.16%. Sell-side analysts forecast that ThredUp will post -0.56 EPS for the current year.

Insiders Place Their Bets

In other ThredUp news, Director Patricia Nakache sold 49,007 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $2.24, for a total value of $109,775.68. Following the sale, the director now owns 250,956 shares of the company's stock, valued at $562,141.44. This trade represents a 16.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 811,860 shares of company stock worth $2,592,099 in the last quarter. 27.00% of the stock is owned by company insiders.

Institutional Trading of ThredUp

Several institutional investors and hedge funds have recently modified their holdings of TDUP. Victory Capital Management Inc. purchased a new position in shares of ThredUp during the 1st quarter valued at about $25,000. CHICAGO TRUST Co NA purchased a new position in shares of ThredUp during the 1st quarter valued at about $30,000. ProShare Advisors LLC raised its holdings in shares of ThredUp by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 22,150 shares of the company's stock valued at $31,000 after buying an additional 7,287 shares in the last quarter. American Century Companies Inc. purchased a new position in ThredUp in the 1st quarter worth approximately $57,000. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in ThredUp by 15.9% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 23,914 shares of the company's stock worth $58,000 after purchasing an additional 3,285 shares during the period. Hedge funds and other institutional investors own 89.08% of the company's stock.

About ThredUp

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.