Analysts Offer Predictions for ThredUp FY2024 Earnings

ThredUp Inc. (NASDAQ:TDUP - Free Report) - Equities researchers at Telsey Advisory Group lifted their FY2024 earnings estimates for ThredUp in a research note issued to investors on Wednesday, January 15th. Telsey Advisory Group analyst D. Telsey now anticipates that the company will earn ($0.56) per share for the year, up from their previous forecast of ($0.61). Telsey Advisory Group currently has a "Outperform" rating and a $3.00 target price on the stock. The consensus estimate for ThredUp's current full-year earnings is ($0.62) per share. Telsey Advisory Group also issued estimates for ThredUp's Q4 2024 earnings at ($0.08) EPS and FY2025 earnings at ($0.36) EPS.

Separately, Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Tuesday.

ThredUp Trading Up 4.1 %

TDUP traded up $0.09 during mid-day trading on Friday, reaching $2.26. The stock had a trading volume of 1,589,208 shares, compared to its average volume of 2,068,237. The stock has a market capitalization of $257.10 million, a P/E ratio of -3.53 and a beta of 1.66. ThredUp has a 52 week low of $0.50 and a 52 week high of $2.45. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 0.96. The firm's fifty day simple moving average is $1.45 and its two-hundred day simple moving average is $1.21.

Insiders Place Their Bets

In other news, Director Daniel J. Nova acquired 30,000 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $1.67 per share, for a total transaction of $50,100.00. Following the completion of the acquisition, the director now owns 244,033 shares in the company, valued at $407,535.11. This trade represents a 14.02 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Patricia Nakache sold 195,337 shares of the company's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $2.26, for a total transaction of $441,461.62. Following the completion of the sale, the director now directly owns 250,956 shares of the company's stock, valued at $567,160.56. The trade was a 43.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 214,797 shares of company stock valued at $264,905 and sold 922,112 shares valued at $1,840,991. Company insiders own 34.42% of the company's stock.

Hedge Funds Weigh In On ThredUp

Institutional investors and hedge funds have recently made changes to their positions in the company. Sei Investments Co. acquired a new stake in ThredUp during the 2nd quarter worth $37,000. Cubist Systematic Strategies LLC bought a new stake in shares of ThredUp in the second quarter worth about $43,000. Creekside Partners acquired a new stake in shares of ThredUp during the second quarter worth about $51,000. SG Americas Securities LLC lifted its holdings 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 purchasing an additional 15,850 shares in the last quarter. Finally, Barclays PLC grew its position in shares of ThredUp by 278.7% in the 3rd quarter. Barclays PLC now owns 104,018 shares of the company's stock valued at $87,000 after purchasing an additional 76,553 shares during the period. Institutional investors and hedge funds 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.