Analysts Set ThredUp Inc. (NASDAQ:TDUP) PT at $6.55

Shares of ThredUp Inc. (NASDAQ:TDUP) have earned an average rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $6.55.

Several research firms have issued reports on TDUP. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ThredUp in a report on Wednesday, June 24th. Roth Capital reissued a “buy” rating and set a $6.50 target price on shares of ThredUp in a research note on Thursday, August 6th. Telsey Advisory Group reduced their price target on shares of ThredUp from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 6th. TD Cowen raised their price target on shares of ThredUp from $5.00 to $5.70 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Wells Fargo & Company lowered their price objective on ThredUp from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th.

ThredUp Trading Down 6.3%

Shares of TDUP stock opened at $2.52 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $330.95 million, a price-to-earnings ratio of -14.82 and a beta of 1.98. The stock has a 50 day simple moving average of $5.09 and a 200-day simple moving average of $4.58. ThredUp has a 1-year low of $2.51 and a 1-year high of $11.90.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). The company had revenue of $90.77 million during the quarter, compared to analyst estimates of $90.34 million. ThredUp had a negative net margin of 6.65% and a negative return on equity of 37.30%. On average, equities research analysts expect that ThredUp will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On ThredUp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of ThredUp by 8.9% during the fourth quarter. Vanguard Group Inc. now owns 7,530,479 shares of the company’s stock worth $48,120,000 after purchasing an additional 616,052 shares in the last quarter. Needham Investment Management LLC lifted its holdings in ThredUp by 7.0% in the 4th quarter. Needham Investment Management LLC now owns 6,075,000 shares of the company’s stock valued at $38,819,000 after purchasing an additional 400,000 shares in the last quarter. Marshall Wace LLP boosted its stake in ThredUp by 11.8% during the 4th quarter. Marshall Wace LLP now owns 4,825,251 shares of the company’s stock worth $30,833,000 after purchasing an additional 509,195 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in ThredUp by 19.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,965,484 shares of the company’s stock worth $9,727,000 after purchasing an additional 473,907 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of ThredUp by 26.2% during the fourth quarter. State Street Corp now owns 2,886,417 shares of the company’s stock worth $18,444,000 after buying an additional 598,793 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

About ThredUp

ThredUp, Inc operates an online consignment and thrift platform that enables consumers to buy and sell secondhand clothing and accessories. Through its digital marketplace, the company offers curated selections of apparel for women and children, spanning a broad range of brands and styles. Sellers can order a “Clean Out Kit” to send in items they no longer wear, while buyers benefit from discounted prices and a simplified shopping experience powered by ThredUp’s in-house authentication, quality control and logistics capabilities.

In addition to its core consumer-to-consumer marketplace, ThredUp has expanded into business-to-business services with its Resale-as-a-Service (RaaS) offering.