Is ThredUp Inc (NASDAQ: TDUP) Stock Ready To Get A Higher Bid?

In the last trading session, 1.62 million ThredUp Inc (NASDAQ:TDUP) shares changed hands as the company’s beta touched 0.63. With the company’s per share price at $2.00 changed hands at $0.08 or 4.17% during last session, the market valuation stood at $214.52M. TDUP’s last price was a discount, traded about -119.5% off its 52-week high of $4.39. The share price had its 52-week low at $1.07, which suggests the last value was 46.5% up since then. When we look at ThredUp Inc’s average trading volume, we note the 10-day average is 1.61 million shares, with the 3-month average coming to 650.23K.

Analysts gave the ThredUp Inc (TDUP) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.80. If we narrow down to specifics, the data shows that 0 out of 10 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 3 recommended TDUP as a Hold, 5 felt it is a Buy and 0 rated the stock as Underweight. ThredUp Inc’s EPS for the current quarter is expected to be -$0.13.

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ThredUp Inc (NASDAQ:TDUP) trade information

Instantly TDUP was in green as seen at the end of in last trading. With action 0.50%, the performance over the past five days has been green. The jump to weekly highs of 2.30 on Friday, 11/17/23 added 4.17% to the stock’s daily price. The company’s shares are showing year-to-date upside of 52.67%, with the 5-day performance at 0.50% in the green. However, in the 30-day time frame, ThredUp Inc (NASDAQ:TDUP) is -30.80% down. Looking at the short shares, we see there were 7.77 million shares sold at short interest cover period of 17.11 days.

The consensus price target for the stock as assigned by Wall Street analysts is $4.11, meaning bulls need an upside of 51.34% from its current market value. According to analyst projections, TDUP’s forecast low is $3.00 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -150.0% plunge from its current level, while the stock would need to soar -50.0% for it to hit the projected low.

ThredUp Inc (TDUP) estimates and forecasts

Data shows that the ThredUp Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -27.27% over the past 6 months, a 27.17% in annual growth rate that is considerably higher than the industry average of -0.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for ThredUp Inc will rise 18.80%, while the growth in revenue is estimated to hit 15.80% for the next quarter. Year-over-year growth is forecast to reach 11.30% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $80.33 million. 6 analysts are of the opinion that ThredUp Inc’s revenue for the quarter ending Mar 2024 will be $80.32 million. The company’s revenue for the corresponding quarters a year ago was $71.32 million and $72.19 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 12.60%. The estimates for the next quarter sales put growth at 11.30%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -26.32%. The 2023 estimates are for ThredUp Inc earnings to increase by 26.90%.

TDUP Dividends

ThredUp Inc is expected to release its next quarterly earnings report on November 06.

ThredUp Inc (NASDAQ:TDUP)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 2.43% of ThredUp Inc shares while 89.67% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.90%. There are 89.67% institutions holding the ThredUp Inc stock share, with Capital World Investors the top institutional holder. As of Jun 29, 2023, the company held 10.72% of the shares, roughly 8.06 million TDUP shares worth $19.68 million.

Goldman Sachs Group Inc holds the second largest percentage of outstanding shares, with 10.36% or 7.79 million shares worth $19.01 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Smallcap World Fund and Thrivent Small Cap Stock Fund. With 8.06 million shares estimated at $19.68 million under it, the former controlled 10.72% of total outstanding shares. On the other hand, Thrivent Small Cap Stock Fund held about 5.09% of the shares, roughly 3.83 million shares worth around $13.48 million.

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