In a report released yesterday, Trevor Young from Barclays assigned a Buy rating to thredUP (TDUP – Research Report), with a price target of $5.00. The company’s shares closed yesterday at $3.22.
Young covers the Consumer Cyclical sector, focusing on stocks such as Etsy, Revolve Group, and thredUP. According to TipRanks, Young has an average return of -6.6% and a 39.83% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for thredUP with a $3.61 average price target.
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Based on thredUP’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $75.92 million and a GAAP net loss of $19.79 million. In comparison, last year the company earned a revenue of $72.7 million and had a GAAP net loss of $20.71 million
Based on the recent corporate insider activity of 97 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TDUP in relation to earlier this year. Most recently, in May 2023, Trinity Tvl X, Llc, a Major Shareholder at TDUP sold 319.00 shares for a total of $955.90.
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ThredUp Inc is an online resale platform for women and kids apparel, shoes, and accessories. It generates revenue from items that are sold to buyers through the website, mobile app, and RaaS partners.
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