ThredUp (NASDAQ:TDUP) Issues Earnings Results

ThredUp (NASDAQ:TDUP) issued its quarterly earnings data on Monday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03), Zacks reports. The company had revenue of $79.76 million for the quarter, compared to analysts’ expectations of $82.58 million. ThredUp had a negative return on equity of 63.62% and a negative net margin of 20.88%. During the same quarter in the prior year, the firm posted ($0.18) EPS.

ThredUp Trading Down 62.7 %

Shares of TDUP stock opened at $0.65 on Wednesday. ThredUp has a twelve month low of $0.61 and a twelve month high of $4.39. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $1.82 and its two-hundred day moving average is $1.89. The company has a market capitalization of $71.13 million, a P/E ratio of -1.01 and a beta of 0.79.

Insider Buying and Selling

In other news, insider Alon Rotem sold 23,042 shares of ThredUp stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $2.01, for a total value of $46,314.42. Following the sale, the insider now owns 218,348 shares of the company’s stock, valued at $438,879.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Alon Rotem sold 23,042 shares of the stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $2.01, for a total transaction of $46,314.42. Following the completion of the transaction, the insider now directly owns 218,348 shares of the company’s stock, valued at approximately $438,879.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Patricia Nakache sold 18,378 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $2.05, for a total value of $37,674.90. The disclosure for this sale can be found here. Insiders sold a total of 664,519 shares of company stock valued at $1,312,257 over the last three months. 34.42% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TDUP. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price target on shares of ThredUp in a research report on Tuesday, May 7th. Wedbush decreased their target price on ThredUp from $4.00 to $3.00 and set an “outperform” rating for the company in a research report on Tuesday, May 7th. Wells Fargo & Company cut their price target on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 price objective on shares of ThredUp in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.29.

About ThredUp

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.