Telsey Advisory Group Lowers Earnings Estimates for ThredUp

ThredUp Inc. (NASDAQ:TDUP) – Equities research analysts at Telsey Advisory Group decreased their FY2024 EPS estimates for ThredUp in a research note issued on Tuesday, November 5th. Telsey Advisory Group analyst D. Telsey now anticipates that the company will post earnings of ($0.61) per share for the year, down from their previous forecast of ($0.54). Telsey Advisory Group has a “Outperform” rating and a $3.00 price objective 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.

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

TDUP has been the topic of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of ThredUp in a research report on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $3.40.

ThredUp Price Performance

Shares of NASDAQ:TDUP opened at $0.98 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.06 and a quick ratio of 0.92. ThredUp has a 1-year low of $0.50 and a 1-year high of $2.60. The company has a market capitalization of $108.08 million, a P/E ratio of -1.53 and a beta of 0.75. The firm’s 50 day simple moving average is $0.80 and its two-hundred day simple moving average is $1.35.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TDUP. Blair William & Co. IL increased its position in ThredUp by 285.0% during the second quarter. Blair William & Co. IL now owns 911,652 shares of the company’s stock valued at $1,550,000 after acquiring an additional 674,852 shares during the last quarter. Bares Capital Management Inc. boosted its stake in shares of ThredUp by 11.4% during the first quarter. Bares Capital Management Inc. now owns 3,548,800 shares of the company’s stock valued at $7,098,000 after purchasing an additional 362,221 shares during the period. Acadian Asset Management LLC boosted its stake in shares of ThredUp by 22.8% during the second quarter. Acadian Asset Management LLC now owns 1,355,830 shares of the company’s stock valued at $2,303,000 after purchasing an additional 251,629 shares during the period. Marshall Wace LLP boosted its stake in shares of ThredUp by 37.4% during the second quarter. Marshall Wace LLP now owns 771,483 shares of the company’s stock valued at $1,312,000 after purchasing an additional 209,792 shares during the period. Finally, Squarepoint Ops LLC boosted its stake in shares of ThredUp by 72.6% during the second quarter. Squarepoint Ops LLC now owns 402,398 shares of the company’s stock valued at $684,000 after purchasing an additional 169,196 shares during the period. Institutional investors own 89.08% of the company’s stock.

Insider Buying and Selling

In other ThredUp news, Director Noam Paranksy purchased 90,000 shares of ThredUp stock in a transaction that occurred on Tuesday, August 27th. The shares were bought at an average price of $0.80 per share, for a total transaction of $72,000.00. Following the completion of the transaction, the director now 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 legal filing with the SEC, which is available through the SEC website. In other news, Director Noam Paransky acquired 40,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $0.79 per share, for a total transaction of $31,600.00. Following the completion of the transaction, the director now directly owns 546,444 shares of the company’s stock, valued at approximately $431,690.76. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Noam Paranksy acquired 90,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were 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. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 385,008 shares of company stock worth $308,906. Insiders own 34.42% 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.