ThredUp Inc. Forecasted to Earn Q2 2024 Earnings of ($0.15) Per Share (NASDAQ:TDUP)

ThredUp Inc. (NASDAQ:TDUPFree Report) – Analysts at William Blair issued their Q2 2024 earnings per share (EPS) estimates for ThredUp in a note issued to investors on Tuesday, March 5th. William Blair analyst D. Carden expects that the company will post earnings per share of ($0.15) for the quarter. The consensus estimate for ThredUp’s current full-year earnings is ($0.42) per share. William Blair also issued estimates for ThredUp’s Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.48) EPS and FY2025 earnings at ($0.43) EPS.

Several other analysts have also weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of ThredUp in a report on Tuesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.00 price target on shares of ThredUp in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on shares of ThredUp from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Thursday, January 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $4.00 price target on shares of ThredUp in a research note on Tuesday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $3.67.

Read Our Latest Stock Analysis on ThredUp

ThredUp Stock Down 7.1 %

NASDAQ:TDUP opened at $1.83 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.21. The business has a 50 day simple moving average of $2.09 and a 200-day simple moving average of $2.64. ThredUp has a 1 year low of $1.66 and a 1 year high of $4.39.

ThredUp (NASDAQ:TDUPGet Free Report) last posted its earnings results on Monday, March 4th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). ThredUp had a negative return on equity of 59.17% and a negative net margin of 22.12%. The business had revenue of $81.39 million during the quarter, compared to the consensus estimate of $80.30 million. During the same quarter last year, the firm earned ($0.19) earnings per share.

Insiders Place Their Bets

In other ThredUp news, major shareholder Gs Investment Strategies, Llc sold 30,397 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $2.13, for a total value of $64,745.61. Following the completion of the transaction, the insider now directly owns 3,710,048 shares in the company, valued at $7,902,402.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO James G. Reinhart sold 11,612 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $2.27, for a total transaction of $26,359.24. Following the transaction, the chief executive officer now directly owns 485,519 shares of the company’s stock, valued at approximately $1,102,128.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Gs Investment Strategies, Llc sold 30,397 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $2.13, for a total value of $64,745.61. Following the completion of the sale, the insider now owns 3,710,048 shares of the company’s stock, valued at $7,902,402.24. The disclosure for this sale can be found here. Insiders sold a total of 54,780 shares of company stock worth $116,652 over the last 90 days. Company insiders own 38.68% of the company’s stock.

Hedge Funds Weigh In On ThredUp

Several hedge funds have recently modified their holdings of the stock. Johnson Investment Counsel Inc. purchased a new stake in ThredUp during the 3rd quarter worth approximately $41,000. Point72 Hong Kong Ltd increased its holdings in shares of ThredUp by 52,547.6% in the second quarter. Point72 Hong Kong Ltd now owns 11,056 shares of the company’s stock valued at $28,000 after purchasing an additional 11,035 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of ThredUp in the fourth quarter worth about $26,000. Blair William & Co. IL purchased a new position in shares of ThredUp in the third quarter worth about $48,000. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of ThredUp by 85.0% during the first quarter. Ensign Peak Advisors Inc now owns 12,860 shares of the company’s stock worth $99,000 after purchasing an additional 5,910 shares during the period. Institutional investors and hedge funds own 58.60% of the company’s stock.

About ThredUp

(Get Free Report)

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 women's and kids' apparel, shoes, and accessories. ThredUp Inc was incorporated in 2009 and is headquartered in Oakland, California.

See Also

Receive News & Ratings for ThredUp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ThredUp and related companies with MarketBeat.com's FREE daily email newsletter.