Telsey Advisory Group Reaffirms Outperform Rating for ThredUp (NASDAQ:TDUP)

ThredUp (NASDAQ:TDUP)‘s stock had its “outperform” rating reissued by equities research analysts at Telsey Advisory Group in a note issued to investors on Tuesday, Benzinga reports. They presently have a $3.00 price target on the stock. Telsey Advisory Group’s price target would suggest a potential upside of 381.54% from the stock’s previous close.

Several other brokerages have also issued reports on TDUP. Wells Fargo & Company reduced their target price on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of ThredUp in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, ThredUp has an average rating of “Moderate Buy” and an average price target of $3.33.

ThredUp Price Performance

TDUP opened at $0.62 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. The stock has a market capitalization of $68.69 million, a P/E ratio of -1.06 and a beta of 0.71. The company’s 50 day simple moving average is $0.81 and its 200-day simple moving average is $1.38. ThredUp has a one year low of $0.61 and a one year high of $3.80.

ThredUp (NASDAQ:TDUP) last released its earnings results on Monday, August 5th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.03). ThredUp had a negative net margin of 19.47% and a negative return on equity of 63.88%. The firm had revenue of $79.76 million during the quarter, compared to analyst estimates of $82.58 million. During the same period last year, the business posted ($0.18) earnings per share. Sell-side analysts anticipate that ThredUp will post -0.55 earnings per share for the current fiscal year.

Insider Transactions at ThredUp

In other news, Director Noam Paranksy acquired 90,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was acquired at an average price of $0.80 per share, for a total transaction of $72,000.00. Following the transaction, the director now directly owns 246,444 shares in the company, valued at approximately $197,155.20. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Noam Paransky acquired 180,000 shares of the stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $0.81 per share, with a total value of $145,800.00. Following the completion of the transaction, the director now directly owns 426,444 shares of the company’s stock, valued at approximately $345,419.64. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Noam Paranksy acquired 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average cost of $0.80 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now directly owns 246,444 shares in the company, valued at $197,155.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 385,008 shares of company stock valued at $308,906 over the last three months. 34.42% of the stock is currently owned by corporate insiders.

Institutional Trading of ThredUp

Hedge funds and other institutional investors have recently modified their holdings of the company. Simplicity Wealth LLC acquired a new position in shares of ThredUp during the third quarter worth about $97,000. SG Americas Securities LLC grew its stake in shares of ThredUp by 84.8% during the 3rd quarter. SG Americas Securities LLC now owns 34,543 shares of the company’s stock worth $29,000 after acquiring an additional 15,850 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of ThredUp in the second quarter valued at approximately $43,000. Creekside Partners acquired a new stake in shares of ThredUp in the second quarter valued at approximately $51,000. Finally, Squarepoint Ops LLC lifted its position in shares of ThredUp by 72.6% in the second quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock worth $684,000 after purchasing an additional 169,196 shares in the last quarter. Institutional investors and hedge funds 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.