ThredUp (NASDAQ:TDUP) Upgraded to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of ThredUp (NASDAQ:TDUP – Free Report) from a hold rating to a buy rating in a report published on Saturday morning.

A number of other brokerages have also recently weighed in on TDUP. Roth Capital began coverage on shares of ThredUp in a research note on Wednesday, October 29th. They set a “buy” rating and a $11.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Thursday, September 4th. Telsey Advisory Group reissued an “outperform” rating and issued a $12.00 price target on shares of ThredUp in a report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ThredUp in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.50.

Get Our Latest Stock Report on ThredUp

ThredUp Price Performance

ThredUp stock opened at $8.72 on Friday. The firm has a market capitalization of $1.09 billion, a PE ratio of -29.07 and a beta of 1.71. ThredUp has a 52 week low of $1.21 and a 52 week high of $12.28. The firm’s 50-day simple moving average is $8.37 and its 200 day simple moving average is $8.71. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.26.

ThredUp (NASDAQ:TDUP – Get Free Report) last posted its earnings results on Monday, November 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.01. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $77.34 million. ThredUp had a negative net margin of 12.18% and a negative return on equity of 39.20%. On average, equities research analysts predict that ThredUp will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Sean Sobers sold 51,220 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total transaction of $380,052.40. Following the transaction, the chief financial officer directly owned 495,336 shares in the company, valued at approximately $3,675,393.12. This represents a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Christopher Homer sold 68,358 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total value of $507,216.36. Following the completion of the sale, the chief operating officer directly owned 1,170,567 shares in the company, valued at approximately $8,685,607.14. The trade was a 5.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 27.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in ThredUp in the second quarter valued at approximately $32,000. Quarry LP acquired a new position in shares of ThredUp in the 3rd quarter valued at $37,000. Voya Investment Management LLC acquired a new position in shares of ThredUp in the 1st quarter valued at $51,000. State of Alaska Department of Revenue purchased a new stake in shares of ThredUp during the 3rd quarter valued at $55,000. Finally, American Century Companies Inc. acquired a new stake in shares of ThredUp during the 1st quarter worth $57,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

About ThredUp

(Get Free Report)

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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