ThredUp Inc. (NASDAQ: TDUP) stock jumped 5.49% on Monday to $1.92 against a previous-day closing price of $1.82. With 0.55 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.06 million shares. During the session, the Internet Retail company that operates in wider Consumer Cyclical sector, reached to the highest price of $2.0400 whereas the lowest price it dropped to was $1.7615. The 52-week range on TDUP shows that it touched its highest point at $9.74 and its lowest point at $0.73 during that stretch. It currently has a 1-year price target of $3.40.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TDUP was down-trending over the past week, with a drop of -1.03%, but this was up by 23.08% over a month. Three-month performance surged to 47.69% while six-month performance fell -9.43%. The stock lost -79.57% in the past year, while it has gained 46.56% so far this year. A look at the trailing 12-month EPS for TDUP yields -0.92 with Next year EPS estimates of -0.62. For the next quarter, that number is -0.20. This implies an EPS growth rate of -56.20% for this year and 34.00% for next year.
Float and Shares Shorts:
At present, 100.25 million TDUP shares are outstanding with a float of 67.98 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.21 million, which was 3.20% higher than short shares on Sep 14, 2022. In addition to Mr. James G. Reinhart as the firm’s Co-Founder, CEO & Director, Mr. Anthony S. Marino serves as its Pres.
Through their ownership of 96.42% of TDUP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.96% of TDUP, in contrast to 27.46% held by mutual funds. Shares owned by individuals account for 12.71%. As the largest shareholder in TDUP with 11.14% of the stake, Goldman Sachs Asset Management LP holds 7,790,622 shares worth 7,790,622. A second-largest stockholder of TDUP, Capital Research & Management Co, holds 6,154,000 shares, controlling over 8.80% of the firm’s shares. Thrivent Asset Management LLC is the third largest shareholder in TDUP, holding 5,655,581 shares or 8.08% stake. With a 11.53% stake in TDUP, the American Funds Small Cap World Fu is the largest stakeholder. A total of 8,064,000 shares are owned by the mutual fund manager. The Thrivent Small Cap Stock Fund, which owns about 3.94% of TDUP stock, is the second-largest Mutual Fund holder. It holds 2,757,154 shares valued at 3.61 million. BBH Partner Fund – Small Cap Equi holds 3.57% of the stake in TDUP, owning 2,500,000 shares worth 3.27 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TDUP since 12 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 3 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TDUP analysts setting a high price target of $5.00 and a low target of $1.00, the average target price over the next 12 months is $3.40. Based on these targets, TDUP could surge 160.42% to reach the target high and fall by -47.92% to reach the target low. Reaching the average price target will result in a growth of 77.08% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TDUP will report FY 2022 earnings on 03/05/2024. Analysts have provided yearly estimates in a range of -$0.91 being high and -$0.97 being low. For TDUP, this leads to a yearly average estimate of -$0.94. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. ThredUp Inc. surprised analysts by -$0.04 when it reported -$0.24 EPS against a consensus estimate of -$0.20. The surprise factor in the prior quarter was -$0.08. Based on analyst estimates, the high estimate for the next quarter is -$0.17 and the low estimate is -$0.22. The average estimate for the next quarter is thus -$0.20.
Summary of Insider Activity:
Insiders traded TDUP stock several times over the past three months with 21 Buys and 10 Sells. In these transactions, 261,893 shares were bought while 63,348 shares were sold. The number of buy transactions has increased to 77 while that of sell transactions has risen to 29 over the past year. The total number of shares bought during that period was 881,249 while 195,335 shares were sold.