ThredUp (NASDAQ:TDUP) Price Target Cut to $3.00

ThredUp (NASDAQ:TDUP) had its price target decreased by stock analysts at Telsey Advisory Group from $4.00 to $3.00 in a research report issued on Tuesday, MarketBeat.com reports. The firm presently has an “outperform” rating on the stock. Telsey Advisory Group’s target price would suggest a potential upside of 53.85% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of ThredUp in a report on Tuesday. The Goldman Sachs Group decreased 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. Finally, Wedbush reiterated an “outperform” rating and set a $4.00 price objective on shares of ThredUp in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.33.

ThredUp Stock Performance

Shares of NASDAQ TDUP opened at $1.95 on Tuesday. The stock has a market cap of $212.22 million, a price-to-earnings ratio of -2.87 and a beta of 0.71. ThredUp has a 12 month low of $1.52 and a 12 month high of $4.39. The company has a 50 day simple moving average of $1.82 and a two-hundred day simple moving average of $2.10. The company has a current ratio of 1.22, a quick ratio of 1.02 and a debt-to-equity ratio of 0.21.

ThredUp (NASDAQ:TDUP) last posted 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 business had revenue of $81.39 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted ($0.19) earnings per share. As a group, analysts predict that ThredUp will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Patricia Nakache sold 109,934 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 240,438 shares in the company, valued at $459,236.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 115,234 shares of company stock valued at $220,514 in the last ninety days. 34.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp acquired a new stake in ThredUp in the 4th quarter valued at approximately $35,000. Tower Research Capital LLC TRC boosted its position in shares of ThredUp by 445.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,376 shares of the company’s stock worth $37,000 after buying an additional 13,372 shares during the period. Johnson Investment Counsel Inc. purchased a new stake in shares of ThredUp in the 3rd quarter valued at $41,000. Blair William & Co. IL purchased a new stake in shares of ThredUp in the 3rd quarter valued at $48,000. Finally, SG Americas Securities LLC lifted its stake in ThredUp by 29.4% during the 4th quarter. SG Americas Securities LLC now owns 35,211 shares of the company’s stock worth $79,000 after acquiring an additional 7,997 shares in the last quarter. Institutional investors and hedge funds 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.