ThredUp Inc. (NASDAQ:TDUP) Receives $12.50 Consensus Target Price from Analysts

Shares of ThredUp Inc. (NASDAQ:TDUP) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $12.50.

A number of research firms have weighed in on TDUP. Telsey Advisory Group reissued an “outperform” rating and set a $12.00 price objective on shares of ThredUp in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of ThredUp in a research report on Monday, December 29th. Wall Street Zen lowered shares of ThredUp from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Roth Mkm initiated coverage on shares of ThredUp in a research note on Wednesday, October 29th. They set a “buy” rating and a $11.00 target price on the stock.

Insider Buying and Selling

In other news, COO Christopher Homer sold 68,358 shares of ThredUp stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $7.42, for a total transaction of $507,216.36. Following the sale, the chief operating officer owned 1,170,567 shares of the company’s stock, valued at approximately $8,685,607.14. The trade was a 5.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean Sobers sold 51,220 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $7.42, for a total value of $380,052.40. Following the completion of the transaction, the chief financial officer owned 495,336 shares of the company’s stock, valued at $3,675,393.12. The trade was a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 27.00% of the stock is owned by company insiders.

Institutional Trading of ThredUp

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in ThredUp during the second quarter worth about $32,000. Quarry LP purchased a new position in shares of ThredUp during the 3rd quarter worth approximately $37,000. State of Alaska Department of Revenue purchased a new position in shares of ThredUp during the 3rd quarter worth approximately $55,000. Ameritas Investment Partners Inc. increased its holdings in ThredUp by 32.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,290 shares of the company’s stock valued at $70,000 after purchasing an additional 2,287 shares during the last quarter. Finally, Versor Investments LP purchased a new stake in ThredUp in the fourth quarter valued at approximately $70,000. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

ThredUp Stock Up 6.3%

TDUP stock opened at $5.23 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $6.37 and a two-hundred day moving average of $8.28. ThredUp has a 12 month low of $2.02 and a 12 month high of $12.28. The company has a market cap of $654.48 million, a price-to-earnings ratio of -17.43 and a beta of 1.72.

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.