Telsey Advisory Group Lowers ThredUp (NASDAQ:TDUP) Price Target to $3.00

ThredUp (NASDAQ:TDUP) had its target price lowered by analysts at Telsey Advisory Group from $4.00 to $3.00 in a note issued to investors on Tuesday, StockNewsAPI reports. The firm presently has an “outperform” rating on the stock. Telsey Advisory Group’s price target points to a potential upside of 61.29% from the company’s previous close.

A number of other analysts also recently weighed in on TDUP. The Goldman Sachs Group decreased their price target on shares of ThredUp from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, January 11th. Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of ThredUp in a research report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $4.00 price target on shares of ThredUp in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, ThredUp presently has an average rating of “Moderate Buy” and a consensus price target of $3.50.

ThredUp Price Performance

TDUP opened at $1.86 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.02 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $1.82 and a 200 day simple moving average of $2.12. The firm has a market cap of $202.42 million, a price-to-earnings ratio of -2.74 and a beta of 0.71. ThredUp has a twelve month low of $1.52 and a twelve month high of $4.39.

ThredUp (NASDAQ:TDUP) last released its quarterly earnings results on Monday, March 4th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). ThredUp had a negative return on equity of 61.27% and a negative net margin of 22.12%. The business had revenue of $81.39 million during the quarter, compared to analyst estimates of $80.30 million. During the same quarter last year, the firm posted ($0.19) EPS. Equities research analysts expect that ThredUp will post -0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TDUP. SG Americas Securities LLC increased its stake in ThredUp by 29.4% during the 4th quarter. SG Americas Securities LLC now owns 35,211 shares of the company’s stock valued at $79,000 after buying an additional 7,997 shares during the period. Johnson Investment Counsel Inc. acquired a new position in shares of ThredUp during the third quarter valued at approximately $41,000. Blair William & Co. IL acquired a new position in shares of ThredUp during the 3rd quarter valued at $48,000. Tower Research Capital LLC TRC boosted its stake in ThredUp by 445.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,376 shares of the company’s stock valued at $37,000 after buying an additional 13,372 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in ThredUp by 35.7% during the fourth quarter. Ieq Capital LLC now owns 54,408 shares of the company’s stock worth $122,000 after acquiring an additional 14,326 shares during the period. Institutional investors own 89.08% of the company’s stock.

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.