Needham & Company LLC Reaffirms “Buy” Rating for ThredUp (NASDAQ:TDUP)

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

Several other research analysts have also weighed in on TDUP. Telsey Advisory Group restated an outperform rating and set a $4.00 price objective on shares of ThredUp in a research note on Wednesday, May 1st. The Goldman Sachs Group dropped their price objective on 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 target price on shares of ThredUp in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $3.33.

ThredUp Stock Performance

Shares of NASDAQ TDUP opened at $2.00 on Tuesday. The stock has a market capitalization of $217.74 million, a PE ratio of -2.96 and a beta of 0.71. ThredUp has a 52 week low of $1.51 and a 52 week high of $4.39. The stock has a 50 day moving average price of $1.82 and a 200 day moving average price of $2.10. 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 released its quarterly earnings data 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 during 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 period in the previous year, the company posted ($0.19) EPS. Analysts predict that ThredUp will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at ThredUp

In other news, Director Patricia Nakache sold 109,934 shares of the business’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 transaction of $209,973.94. Following the completion of the sale, the director now owns 240,438 shares in the company, valued at $459,236.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 115,234 shares of company stock valued at $220,514 in the last three months. 34.42% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ThredUp

A number of institutional investors have recently modified their holdings of TDUP. Mackenzie Financial Corp acquired a new position in ThredUp in the fourth quarter valued at about $35,000. Tower Research Capital LLC TRC increased its stake in ThredUp by 445.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,376 shares of the company’s stock valued at $37,000 after purchasing an additional 13,372 shares in the last quarter. Johnson Investment Counsel Inc. bought a new stake in shares of ThredUp during the third quarter valued at approximately $41,000. Blair William & Co. IL bought a new stake in shares of ThredUp during the third quarter worth about $48,000. Finally, SG Americas Securities LLC grew its stake in shares of ThredUp by 29.4% in 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 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.