ThredUp FY2024 EPS Estimate Reduced by Telsey Advisory Group

ThredUp Inc. (NASDAQ:TDUP) – Equities research analysts at Telsey Advisory Group reduced their FY2024 EPS estimates for shares of ThredUp in a research note issued to investors on Tuesday, November 5th. Telsey Advisory Group analyst D. Telsey now expects that the company will post earnings of ($0.61) per share for the year, down from their previous estimate of ($0.54). Telsey Advisory Group currently has a “Outperform” rating and a $3.00 target price on the stock. The consensus estimate for ThredUp’s current full-year earnings is ($0.55) per share. Telsey Advisory Group also issued estimates for ThredUp’s FY2025 earnings at ($0.47) EPS.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings results on Monday, August 5th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). ThredUp had a negative net margin of 22.16% and a negative return on equity of 73.47%. The company had revenue of $79.76 million during the quarter, compared to analyst estimates of $82.58 million. During the same period in the prior year, the business earned ($0.18) EPS.

A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company decreased their target price on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, ThredUp currently has a consensus rating of “Moderate Buy” and an average price target of $3.33.

ThredUp Stock Up 5.0 %

Shares of ThredUp stock opened at $0.88 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. ThredUp has a 1 year low of $0.50 and a 1 year high of $3.02. The business has a 50-day moving average of $0.80 and a two-hundred day moving average of $1.36. The company has a market capitalization of $96.91 million, a P/E ratio of -1.37 and a beta of 0.75.

Insiders Place Their Bets

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

Institutional Investors Weigh In On ThredUp

Several institutional investors and hedge funds have recently modified their holdings of the stock. Privium Fund Management B.V. increased its position in ThredUp by 76.3% during the 3rd quarter. Privium Fund Management B.V. now owns 383,500 shares of the company’s stock valued at $323,000 after buying an additional 165,935 shares in the last quarter. BloombergSen Inc. grew its position in ThredUp by 118.5% in the 3rd quarter. BloombergSen Inc. now owns 168,780 shares of the company’s stock worth $142,000 after purchasing an additional 91,518 shares during the period. Simplicity Wealth LLC purchased a new stake in ThredUp during the 3rd quarter valued at $97,000. SG Americas Securities LLC lifted its holdings in ThredUp by 84.8% in the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock valued at $29,000 after acquiring an additional 15,850 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in ThredUp during the second quarter valued at approximately $43,000. 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.