ThredUp (NASDAQ:TDUP) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

ThredUp (NASDAQ:TDUP) released its quarterly earnings results on Monday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.03), Zacks reports. The company had revenue of $79.76 million for the quarter, compared to analysts’ expectations of $82.58 million. ThredUp had a negative net margin of 20.88% and a negative return on equity of 63.62%. During the same quarter in the previous year, the company posted ($0.18) EPS.

ThredUp Stock Down 62.7 %

Shares of ThredUp stock opened at $0.65 on Wednesday. ThredUp has a 1 year low of $0.61 and a 1 year high of $4.39. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.13 and a quick ratio of 0.98. The stock has a market cap of $71.13 million, a price-to-earnings ratio of -1.01 and a beta of 0.79. The firm’s 50-day moving average is $1.82 and its two-hundred day moving average is $1.89.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TDUP. Telsey Advisory Group reissued an “outperform” rating and issued a $3.00 target price on shares of ThredUp in a research note on Tuesday. Wells Fargo & Company cut their price objective on ThredUp from $5.00 to $3.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $5.00 target price on shares of ThredUp in a research note on Tuesday, May 7th. Finally, Wedbush reduced their price target on shares of ThredUp from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, ThredUp currently has a consensus rating of “Moderate Buy” and an average target price of $3.29.

Insider Transactions at ThredUp

In related news, insider Alon Rotem sold 23,042 shares of ThredUp stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $2.01, for a total transaction of $46,314.42. Following the transaction, the insider now directly owns 218,348 shares of the company’s stock, valued at $438,879.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Alon Rotem sold 23,042 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $2.01, for a total transaction of $46,314.42. Following the completion of the sale, the insider now directly owns 218,348 shares in the company, valued at approximately $438,879.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Patricia Nakache sold 18,378 shares of ThredUp stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $2.05, for a total value of $37,674.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 664,519 shares of company stock valued at $1,312,257. Company 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.