Telsey Advisory Group Lowers Earnings Estimates for ThredUp

ThredUp Inc. (NASDAQ:TDUP) – Analysts at Telsey Advisory Group lowered their FY2024 earnings estimates for ThredUp in a note issued to investors on Tuesday, November 5th. Telsey Advisory Group analyst D. Telsey now forecasts that the company will earn ($0.61) per share for the year, down from their prior forecast of ($0.54). Telsey Advisory Group has a “Outperform” rating and a $3.00 price target on the stock. The consensus estimate for ThredUp’s current full-year earnings is ($0.55) per share. Telsey Advisory Group also issued estimates for ThredUp’s FY2025 earnings at ($0.47) EPS.

Several other research firms have also commented on TDUP. Wells Fargo & Company decreased their price target on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Needham & Company LLC reissued a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $3.40.

ThredUp Stock Performance

TDUP stock opened at $0.98 on Thursday. The firm has a market cap of $108.08 million, a price-to-earnings ratio of -1.53 and a beta of 0.75. The firm has a 50-day simple moving average of $0.80 and a two-hundred day simple moving average of $1.35. ThredUp has a one year low of $0.50 and a one year high of $2.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.92 and a current ratio of 1.06.

ThredUp (NASDAQ:TDUP) last released its quarterly 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). The firm had revenue of $79.76 million for the quarter, compared to analysts’ expectations of $82.58 million. ThredUp had a negative net margin of 22.16% and a negative return on equity of 73.47%. During the same period in the previous year, the company posted ($0.18) earnings per share.

Institutional Investors Weigh In On ThredUp

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its position 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 valued at $29,000 after buying an additional 15,850 shares in the last quarter. Sei Investments Co. purchased a new position in shares of ThredUp during the 2nd quarter valued at approximately $37,000. Cubist Systematic Strategies LLC purchased a new position in shares of ThredUp during the 2nd quarter valued at approximately $43,000. Price T Rowe Associates Inc. MD lifted its position in shares of ThredUp by 33.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 22,381 shares of the company’s stock valued at $45,000 after buying an additional 5,635 shares in the last quarter. Finally, Diversified Trust Co lifted its position in shares of ThredUp by 117.3% during the 2nd quarter. Diversified Trust Co now owns 28,111 shares of the company’s stock valued at $48,000 after buying an additional 15,175 shares in the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Insider Activity

In other ThredUp news, Director Noam Paransky purchased 180,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $0.81 per share, for a total transaction of $145,800.00. Following the acquisition, the director now owns 426,444 shares in the company, valued at $345,419.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other ThredUp news, Director Noam Paransky purchased 180,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average price of $0.81 per share, for a total transaction of $145,800.00. Following the acquisition, the director now owns 426,444 shares in the company, valued at $345,419.64. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Noam Paranksy acquired 90,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was bought at an average price of $0.80 per share, for a total transaction of $72,000.00. Following the transaction, the director now owns 246,444 shares in the company, valued at approximately $197,155.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 385,008 shares of company stock worth $308,906 over the last 90 days. 34.42% of the stock is currently owned by corporate insiders.

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.