Several analysts have recently updated their ratings and price targets for ThredUp (NASDAQ: TDUP):
- 8/22/2022 – ThredUp had its price target lowered by analysts at Guggenheim to $8.00.
- 8/16/2022 – ThredUp had its price target lowered by analysts at Telsey Advisory Group from $11.00 to $7.00. They now have an "outperform" rating on the stock.
- 8/16/2022 – ThredUp had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $6.00 to $4.00. They now have a "neutral" rating on the stock.
- 8/16/2022 – ThredUp had its price target lowered by analysts at Morgan Stanley from $9.00 to $4.00. They now have an "equal weight" rating on the stock.
- 8/15/2022 – ThredUp had its price target lowered by analysts at Barclays PLC from $9.00 to $6.00. They now have an "overweight" rating on the stock.
- 7/22/2022 – ThredUp was downgraded by analysts at Piper Sandler from an "overweight" rating to a "neutral" rating. They now have a $3.50 price target on the stock, down previously from $12.00.
- 7/20/2022 – ThredUp is now covered by analysts at KeyCorp. They set a "sector weight" rating on the stock.
ThredUp Price Performance
Shares of TDUP stock traded down $0.03 during trading hours on Wednesday, hitting $2.51. 18,417 shares of the company's stock were exchanged, compared to its average volume of 1,194,839. The company has a current ratio of 1.77, a quick ratio of 1.64 and a debt-to-equity ratio of 0.14. ThredUp Inc. has a 12-month low of $1.90 and a 12-month high of $23.70. The company has a market capitalization of $251.20 million, a PE ratio of -3.02 and a beta of 0.53. The business's 50 day simple moving average is $2.60 and its 200-day simple moving average is $5.13.
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ThredUp (NASDAQ:TDUP – Get Rating) last issued its earnings results on Monday, August 15th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.07). The company had revenue of $76.42 million during the quarter, compared to analysts' expectations of $76.04 million. ThredUp had a negative return on equity of 41.55% and a negative net margin of 28.65%. The company's revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.15) EPS. On average, equities research analysts anticipate that ThredUp Inc. will post -0.87 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO James G. Reinhart sold 18,255 shares of the business's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.03, for a total value of $73,567.65. Following the completion of the sale, the chief executive officer now owns 49,758 shares in the company, valued at approximately $200,524.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Sean Sobers sold 6,602 shares of the firm's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $4.03, for a total transaction of $26,606.06. Following the completion of the sale, the chief financial officer now directly owns 21,658 shares in the company, valued at $87,281.74. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James G. Reinhart sold 18,255 shares of the firm's stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $4.03, for a total transaction of $73,567.65. Following the completion of the transaction, the chief executive officer now directly owns 49,758 shares of the company's stock, valued at approximately $200,524.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,820 shares of company stock valued at $188,685. Company insiders own 41.99% of the company's stock.
Institutional Trading of ThredUp
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TDUP. Envestnet Asset Management Inc. boosted its position in shares of ThredUp by 32.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 18,032 shares of the company's stock worth $230,000 after purchasing an additional 4,439 shares in the last quarter. M&T Bank Corp purchased a new position in shares of ThredUp during the 4th quarter valued at approximately $133,000. Northern Trust Corp raised its position in shares of ThredUp by 716.9% during the 4th quarter. Northern Trust Corp now owns 273,926 shares of the company's stock valued at $3,495,000 after acquiring an additional 240,395 shares in the last quarter. abrdn plc acquired a new stake in ThredUp in the fourth quarter worth $610,000. Finally, Swiss National Bank acquired a new position in shares of ThredUp during the fourth quarter valued at $605,000. Institutional investors and hedge funds own 59.63% of the company's stock.
ThredUp Inc, together with its subsidiaries, operates online resale platforms that allows consumers to buy and sell secondhand women's and kids' apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.
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