ThredUp Inc. (NASDAQ:TDUP) Receives $3.33 Consensus PT from Brokerages

ThredUp Inc. (NASDAQ:TDUP) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $3.33.

TDUP has been the subject of several research analyst reports. Telsey Advisory Group restated an “outperform” rating and issued a $3.00 price target on shares of ThredUp in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research report on Wednesday. Finally, Wells Fargo & Company dropped their price target on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th.

Insider Buying and Selling

In other news, Director Noam Paransky bought 40,000 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $0.79 per share, for a total transaction of $31,600.00. Following the completion of the purchase, the director now directly owns 546,444 shares of the company’s stock, valued at $431,690.76. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other ThredUp news, Director Noam Paranksy purchased 90,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were acquired at an average price of $0.80 per share, for a total transaction of $72,000.00. Following the acquisition, the director now owns 246,444 shares of the company’s stock, valued at $197,155.20. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Noam Paransky acquired 40,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $0.79 per share, with a total value of $31,600.00. Following the completion of the acquisition, the director now directly owns 546,444 shares of the company’s stock, valued at $431,690.76. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 385,008 shares of company stock worth $308,906. Corporate insiders own 34.42% of the company’s stock.

Institutional Trading of ThredUp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC acquired a new position in shares of ThredUp during the 3rd quarter valued at about $97,000. SG Americas Securities LLC grew its holdings in ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after purchasing an additional 15,850 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of ThredUp in the second quarter valued at approximately $43,000. Creekside Partners acquired a new stake in shares of ThredUp in the second quarter worth $51,000. Finally, Squarepoint Ops LLC boosted its holdings in shares of ThredUp by 72.6% during the 2nd quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock worth $684,000 after buying an additional 169,196 shares during the period. Institutional investors and hedge funds own 89.08% of the company’s stock.

ThredUp Trading Down 1.2 %

Shares of NASDAQ:TDUP opened at $0.66 on Friday. The stock has a market capitalization of $72.58 million, a price-to-earnings ratio of -1.03 and a beta of 0.71. ThredUp has a 1-year low of $0.61 and a 1-year high of $3.80. The company has a 50 day moving average price of $0.82 and a 200 day moving average price of $1.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.92 and a current ratio of 1.06.

ThredUp (NASDAQ:TDUP) last announced its earnings results on Monday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). ThredUp had a negative return on equity of 63.88% and a negative net margin of 19.47%. The company had revenue of $79.76 million for the quarter, compared to analyst estimates of $82.58 million. During the same period last year, the firm earned ($0.18) earnings per share. On average, research analysts anticipate that ThredUp will post -0.55 EPS for the current fiscal year.

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.