Telsey Advisory Group Reaffirms “Outperform” Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group reiterated their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research note released on Wednesday, Benzinga reports. Telsey Advisory Group currently has a $4.00 price target on the stock.

A number of other equities analysts have also recently issued reports on TDUP. The Goldman Sachs Group dropped their price target on shares of ThredUp from $4.00 to $3.00 and set a neutral rating on the stock in a research note on Thursday, January 11th. Needham & Company LLC reiterated a buy rating and issued a $5.00 target price on shares of ThredUp in a research note on Tuesday, March 5th. Finally, Wedbush reissued an outperform rating and set a $4.00 price target on shares of ThredUp in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $3.67.

ThredUp Price Performance

Shares of TDUP opened at $1.80 on Wednesday. ThredUp has a fifty-two week low of $1.52 and a fifty-two week high of $4.39. The firm’s 50-day simple moving average is $1.83 and its two-hundred day simple moving average is $2.14. The stock has a market cap of $195.89 million, a PE ratio of -2.52 and a beta of 0.71. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.02 and a current ratio of 1.22.

ThredUp (NASDAQ:TDUP) last posted its quarterly earnings results on Monday, March 4th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $81.39 million during the quarter, compared to analysts’ expectations of $80.30 million. ThredUp had a negative return on equity of 61.27% and a negative net margin of 22.12%. During the same quarter in the previous year, the company earned ($0.19) EPS. Analysts anticipate that ThredUp will post -0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ThredUp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors lifted its position in ThredUp by 6.4% during the fourth quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock valued at $19,305,000 after purchasing an additional 516,000 shares during the period. FMR LLC boosted its stake in shares of ThredUp by 28.5% in the 3rd quarter. FMR LLC now owns 6,113,152 shares of the company’s stock worth $24,514,000 after buying an additional 1,355,607 shares during the last quarter. Bares Capital Management Inc. grew its holdings in shares of ThredUp by 6.2% in the fourth quarter. Bares Capital Management Inc. now owns 3,186,579 shares of the company’s stock worth $7,170,000 after acquiring an additional 186,579 shares during the period. Acadian Asset Management LLC increased its position in ThredUp by 130.3% during the third quarter. Acadian Asset Management LLC now owns 742,974 shares of the company’s stock valued at $2,978,000 after acquiring an additional 420,366 shares during the last quarter. Finally, Bourgeon Capital Management LLC bought a new position in ThredUp in the third quarter valued at about $2,783,000. Institutional investors own 89.08% of the company’s stock.

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.