why ThredUp Inc. [TDUP] is a Good Choice for Investors After New Price Target of $3.40

ThredUp Inc. [NASDAQ: TDUP] closed the trading session at $2.00 on 12/14/22. The day’s price range saw the stock hit a low of $1.5604, while the highest price level was $2.25. The company report on December 6, 2022 that Circular Fashion Meets Sustainable Building Products: The AZEK® Company and thredUP Announce Plastic Recycling Partnership.

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AZEK to collect thredUP’s post-consumer plastic Clean Out Bags, process and turn them into new long-lived TimberTech® composite decking, advancing both companies’ ESG and recycling goals.

The AZEK Company Inc. (NYSE: AZEK) (“AZEK” or the “Company”), the industry-leading manufacturer of beautiful, low-maintenance and environmentally sustainable outdoor living products, including TimberTech® decking, Versatex® and AZEK® Trim, and StruXure™ pergolas, and thredUP (NASDAQ: TDUP), one of the largest online resale platforms for women’s and kids’ apparel, shoes, and accessories, are proud to announce a new recycling partnership to responsibly transform plastic waste into long-lasting, low-maintenance outdoor living products.

The stocks have a year to date performance of -84.33 percent and weekly performance of 69.49 percent. The stock has been moved at -43.98 percent over the last six months. The stock has performed 102.24 percent around the most recent 30 days and changed -29.58 percent over the most recent 3-months.

If compared to the average trading volume of 1.09M shares, TDUP reached to a volume of 3624760 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about ThredUp Inc. [TDUP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TDUP shares is $3.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TDUP stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for ThredUp Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 22, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Sector Weight. The new note on the price target was released on July 21, 2022, representing the official price target for ThredUp Inc. stock. Previously, the target price had yet another raise to $7, while Raymond James analysts kept a Outperform rating on TDUP stock. On April 25, 2022, analysts decreased their price target for TDUP shares from 11 to 10.

The Average True Range (ATR) for ThredUp Inc. is set at 0.21, with the Price to Sales ratio for TDUP stock in the period of the last 12 months amounting to 0.62. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 1.38.

TDUP stock trade performance evaluation

ThredUp Inc. [TDUP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 69.49. With this latest performance, TDUP shares gained by 102.24% in over the last four-week period, additionally sinking by -43.98% over the last 6 months – not to mention a drop of -85.33% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TDUP stock in for the last two-week period is set at 73.52, with the RSI for the last a single of trading hit 81.23, and the three-weeks RSI is set at 65.95 for ThredUp Inc. [TDUP]. The present Moving Average for the last 50 days of trading for this stock 1.3300, while it was recorded at 1.5600 for the last single week of trading, and 3.6700 for the last 200 days.

ThredUp Inc. [TDUP]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ThredUp Inc. [TDUP] shares currently have an operating margin of -24.34 and a Gross Margin at +67.11. ThredUp Inc.’s Net Margin is presently recorded at -25.09.

Return on Equity for this stock declined to -54.79, with Return on Assets sitting at -25.08.

ThredUp Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.70.

ThredUp Inc. [TDUP]: Insider Ownership positions

There are presently around $115 million, or 84.60% of TDUP stock, in the hands of institutional investors. The top three institutional holders of TDUP stocks are: GOLDMAN SACHS GROUP INC with ownership of 7,812,004, which is approximately 0.154% of the company’s market cap and around 1.50% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 6,154,000 shares of the stock with an approximate value of $12.31 million in TDUP stocks shares; and THRIVENT FINANCIAL FOR LUTHERANS, currently with $11.31 million in TDUP stock with ownership of nearly 91.418% of the company’s market capitalization.

Positions in ThredUp Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 56 institutional holders increased their position in ThredUp Inc. [NASDAQ:TDUP] by around 15,369,351 shares. Additionally, 64 investors decreased positions by around 17,412,600 shares, while 15 investors held positions by with 24,742,429 shares. The mentioned changes placed institutional holdings at 57,524,380 shares, according to the latest SEC report filing. TDUP stock had 22 new institutional investments in for a total of 6,373,621 shares, while 26 institutional investors sold positions of 5,142,304 shares during the same period.


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