Telsey Advisory Group Reiterates “Outperform” Rating for ThredUp (NASDAQ:TDUP)

Telsey Advisory Group reissued their outperform rating on shares of ThredUp (NASDAQ:TDUP) in a research report sent to investors on Wednesday morning, Benzinga reports. Telsey Advisory Group currently has a $3.00 price objective on the stock.

Several other equities analysts have also recently weighed in on TDUP. Wedbush lowered their price objective on shares of ThredUp from $4.00 to $3.00 and set an outperform rating on the stock in a research note on Tuesday, May 7th. Needham & Company LLC restated a buy rating and set a $5.00 target price on shares of ThredUp in a research note on Tuesday, May 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, ThredUp presently has a consensus rating of Moderate Buy and an average price target of $3.33.

ThredUp Stock Down 10.5 %

NASDAQ:TDUP opened at $1.84 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market cap of $202.33 million, a P/E ratio of -2.87 and a beta of 0.79. ThredUp has a fifty-two week low of $1.51 and a fifty-two week high of $4.39. The firm has a 50-day simple moving average of $1.85 and a two-hundred day simple moving average of $1.91.

ThredUp (NASDAQ:TDUP) last issued its earnings results on Monday, May 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). ThredUp had a negative return on equity of 63.62% and a negative net margin of 20.88%. The company had revenue of $79.59 million during the quarter, compared to analysts’ expectations of $80.28 million. Analysts predict that ThredUp will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at ThredUp

In related news, Director Patricia Nakache sold 22,967 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $2.11, for a total transaction of $48,460.37. Following the completion of the transaction, the director now directly owns 240,438 shares of the company’s stock, valued at $507,324.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ThredUp news, Director Patricia Nakache sold 22,967 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $2.11, for a total transaction of $48,460.37. Following the completion of the transaction, the director now owns 240,438 shares in the company, valued at approximately $507,324.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alon Rotem sold 23,042 shares of ThredUp stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $2.01, for a total value of $46,314.42. Following the completion of the sale, the insider now directly owns 218,348 shares in the company, valued at approximately $438,879.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 774,453 shares of company stock valued at $1,522,231. 34.42% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ThredUp

Institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp bought a new stake in shares of ThredUp in the 4th quarter worth about $35,000. Tower Research Capital LLC TRC increased its position in shares of ThredUp by 445.1% during the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in ThredUp by 33.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock valued at $45,000 after buying an additional 5,635 shares during the period. Diversified Trust Co lifted its position in ThredUp by 117.3% in the second quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock worth $48,000 after buying an additional 15,175 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in ThredUp by 29.4% during the fourth quarter. SG Americas Securities LLC now owns 35,211 shares of the company’s stock worth $79,000 after buying an additional 7,997 shares during the period. 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.