Wall Street Zen Upgrades ThredUp (NASDAQ:TDUP) to Buy

ThredUp (NASDAQ:TDUP - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Several other research firms have also recently issued reports on TDUP. Telsey Advisory Group upped their price objective on ThredUp from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $7.50 price objective (up from $6.00) on shares of ThredUp in a research report on Tuesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ThredUp in a research report on Tuesday, March 4th.

ThredUp Stock Up 2.8%

Shares of ThredUp stock opened at $7.72 on Friday. ThredUp has a 52-week low of $0.50 and a 52-week high of $7.80. The company has a 50 day moving average of $5.22 and a 200 day moving average of $3.14. The company has a quick ratio of 0.86, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $912.87 million, a P/E ratio of -12.06 and a beta of 1.75.

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

Insider Activity at ThredUp

In related news, Director Patricia Nakache sold 49,007 shares of the company'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 completion of the sale, the director now directly owns 250,956 shares of the company's stock, valued at $562,141.44. This represents a 16.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 811,860 shares of company stock valued at $2,592,099 in the last three months. 27.00% of the stock is currently owned by company insiders.

Institutional Trading of ThredUp

A number of large investors have recently made changes to their positions in TDUP. Victory Capital Management Inc. acquired a new stake in shares of ThredUp in the 1st quarter valued at about $25,000. CHICAGO TRUST Co NA acquired a new stake in ThredUp during the 1st quarter worth approximately $30,000. ProShare Advisors LLC lifted its position in 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 during the period. Virtu Financial LLC acquired a new stake in ThredUp during the 4th quarter worth approximately $33,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in ThredUp during the 4th quarter worth approximately $48,000. 89.08% of the stock is owned by institutional investors and hedge funds.

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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