ThredUp’s (TDUP) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of ThredUp (NASDAQ:TDUP) in a research note published on Tuesday, Benzinga reports. They currently have a $5.00 price objective on the stock.

Several other equities research analysts also recently issued reports on TDUP. The Goldman Sachs Group lowered their price target on ThredUp from $4.00 to $3.00 and set a neutral rating on the stock in a research report on Thursday, January 11th. Telsey Advisory Group reaffirmed an outperform rating and issued a $4.00 price target on shares of ThredUp in a research report on Wednesday, May 1st. Finally, Wedbush reissued an outperform rating and issued a $4.00 price objective on shares of ThredUp in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $3.33.

ThredUp Price Performance

NASDAQ TDUP opened at $1.95 on Tuesday. The firm has a market cap of $212.22 million, a P/E ratio of -2.87 and a beta of 0.71. The stock’s 50-day moving average is $1.82 and its two-hundred day moving average is $2.11. ThredUp has a fifty-two week low of $1.52 and a fifty-two week high of $4.39. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.22 and a quick ratio of 1.02.

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

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 109,934 shares of ThredUp stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $1.91, for a total value of $209,973.94. Following the completion of the transaction, the director now directly owns 240,438 shares of the company’s stock, valued at $459,236.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have sold 122,905 shares of company stock valued at $235,856. 34.42% of the stock is owned by insiders.

Institutional Investors Weigh In On ThredUp

A number of institutional investors have recently made changes to their positions in TDUP. Capital World Investors lifted its holdings in ThredUp by 6.4% during the fourth quarter. Capital World Investors now owns 8,580,000 shares of the company’s stock worth $19,305,000 after acquiring an additional 516,000 shares in the last quarter. FMR LLC grew its position in shares of ThredUp by 28.5% in the 3rd quarter. FMR LLC now owns 6,113,152 shares of the company’s stock valued at $24,514,000 after purchasing an additional 1,355,607 shares during the period. Bares Capital Management Inc. increased its stake in ThredUp by 6.2% during the 4th quarter. Bares Capital Management Inc. now owns 3,186,579 shares of the company’s stock worth $7,170,000 after purchasing an additional 186,579 shares in the last quarter. Acadian Asset Management LLC raised its holdings in ThredUp by 130.3% during the 3rd quarter. Acadian Asset Management LLC now owns 742,974 shares of the company’s stock worth $2,978,000 after buying an additional 420,366 shares during the period. Finally, Bourgeon Capital Management LLC bought a new position in ThredUp in the third quarter valued at approximately $2,783,000. 89.08% of the stock is owned by institutional investors and hedge funds.

About ThredUp

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.