ThredUp FY2024 EPS Estimate Reduced by Telsey Advisory Group

ThredUp Inc. (NASDAQ:TDUP - Free Report) - Telsey Advisory Group lowered their FY2024 earnings per share estimates for ThredUp in a research note issued on Tuesday, November 5th. Telsey Advisory Group analyst D. Telsey now expects that the company will post earnings per share of ($0.61) for the year, down from their prior estimate 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.

A number of other research analysts have also issued reports on the company. Needham & Company LLC reiterated a "hold" rating on shares of ThredUp in a research report on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on ThredUp from $5.00 to $3.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 6th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $3.33.

ThredUp Stock Performance

Shares of NASDAQ:TDUP traded up $0.10 during trading hours on Thursday, hitting $0.98. The stock had a trading volume of 2,412,412 shares, compared to its average volume of 668,752. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.92 and a current ratio of 1.06. The stock's fifty day simple moving average is $0.80 and its 200 day simple moving average is $1.35. The firm has a market capitalization of $108.08 million, a price-to-earnings ratio of -1.53 and a beta of 0.75. ThredUp has a 1-year low of $0.50 and a 1-year high of $2.60.

ThredUp (NASDAQ:TDUP - Get Free Report) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.13) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.03). The company had revenue of $79.76 million for the quarter, compared to the consensus estimate of $82.58 million. ThredUp had a negative return on equity of 73.47% and a negative net margin of 22.16%. During the same quarter in the previous year, the company earned ($0.18) earnings per share.

Institutional Investors Weigh In On ThredUp

Institutional investors have recently modified their holdings of the business. Privium Fund Management B.V. raised its position in shares of ThredUp by 76.3% during the 3rd quarter. Privium Fund Management B.V. now owns 383,500 shares of the company's stock valued at $323,000 after acquiring an additional 165,935 shares during the last quarter. BloombergSen Inc. increased its holdings in ThredUp by 118.5% in the third quarter. BloombergSen Inc. now owns 168,780 shares of the company's stock valued at $142,000 after purchasing an additional 91,518 shares during the last quarter. Simplicity Wealth LLC acquired a new position in ThredUp in the third quarter valued at about $97,000. SG Americas Securities LLC boosted its holdings in ThredUp by 84.8% during the third quarter. SG Americas Securities LLC now owns 34,543 shares of the company's stock worth $29,000 after buying an additional 15,850 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of ThredUp during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 89.08% of the company's stock.

Insider Buying and Selling

In other news, Director Noam Paransky bought 40,000 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $0.79 per share, for a total transaction of $31,600.00. Following the completion of the purchase, the director now owns 546,444 shares of the company's stock, valued at $431,690.76. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Noam Paranksy acquired 90,000 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased 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 of the company's stock, valued at approximately $197,155.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Noam Paransky purchased 40,000 shares of the business's stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $0.79 per share, for a total transaction of $31,600.00. Following the purchase, the director now directly owns 546,444 shares of the company's stock, valued at $431,690.76. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 385,008 shares of company stock worth $308,906 in the last quarter. 34.42% of the stock is currently owned by company 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.