ThredUp (NASDAQ:TDUP) Upgraded to “Strong-Buy” at TD Cowen

TD Cowen upgraded shares of ThredUp (NASDAQ:TDUP) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on TDUP. Wells Fargo & Company decreased their price objective on ThredUp from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of ThredUp in a research note on Friday, March 27th. Wall Street Zen lowered ThredUp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Telsey Advisory Group reduced their target price on ThredUp from $12.00 to $9.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.80.

ThredUp Trading Down 4.4%

Shares of NASDAQ TDUP opened at $3.50 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $444.64 million, a P/E ratio of -23.33 and a beta of 1.85. ThredUp has a 1-year low of $2.73 and a 1-year high of $12.28. The business has a fifty day moving average price of $4.15 and a 200 day moving average price of $6.44.

ThredUp (NASDAQ:TDUP) last issued its quarterly earnings data on Monday, March 2nd. The company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm had revenue of $79.70 million during the quarter, compared to analysts’ expectations of $77.17 million. ThredUp had a negative return on equity of 34.48% and a negative net margin of 6.50%. Equities research analysts expect that ThredUp will post -0.56 EPS for the current fiscal year.

Insider Activity at ThredUp

In related news, COO Christopher Homer sold 69,741 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $3.82, for a total transaction of $266,410.62. Following the transaction, the chief operating officer directly owned 1,274,906 shares of the company’s stock, valued at $4,870,140.92. This represents a 5.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Patricia Nakache bought 13,157 shares of ThredUp stock in a transaction that occurred on Tuesday, March 10th. The shares were acquired at an average cost of $3.73 per share, for a total transaction of $49,075.61. Following the completion of the transaction, the director directly owned 14,017 shares in the company, valued at $52,283.41. This represents a 1,529.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 27.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of ThredUp in the second quarter valued at about $32,000. Quarry LP acquired a new position in shares of ThredUp in the third quarter valued at about $37,000. Meeder Asset Management Inc. increased its holdings in shares of ThredUp by 552.9% in the fourth quarter. Meeder Asset Management Inc. now owns 6,405 shares of the company’s stock valued at $41,000 after purchasing an additional 5,424 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of ThredUp in the third quarter valued at about $55,000. Finally, Versor Investments LP acquired a new position in shares of ThredUp in the fourth quarter valued at about $70,000. 89.08% of the stock is owned by institutional investors and hedge funds.

ThredUp Company Profile

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.