ThredUp Inc (NASDAQ:TDUP) price on Thursday, May 22, rose 6.38% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $7.50.
A look at the stock’s price movement, the close in the last trading session was $7.05. Turning to its 52-week performance, $7.34 and $0.50 were the 52-week high and 52-week low respectively. Overall, TDUP moved 91.33% over the past month.
ThredUp Inc’s market cap currently stands at around $886.85 million, with investors looking forward to this quarter’s earnings report slated for in June.
Analysts have a consensus estimate of 73.08M for the company’s revenue for the quarter, with a low and high estimate of 71.4M and 74M respectively. The average forecast suggests down to a -8.38% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 285.07M, representing a 9.63% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that TDUP is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 4 recommend TDUP as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
TDUP’s current price about 26.86% and 82.78% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 80.55, while 7-day volatility ratio is 3.98% and 9.14% in the 30-day chart. Further, ThredUp Inc (TDUP) has a beta value of 1.70, and an average true range (ATR) of 0.44. Analysts have given the company’s stock an average 52-week price target of $4, forecast between a low of $2 and high of $5. Looking at the price targets, the low is 73.33% off current price level while to achieve the yearly target high, price needs to move 33.33%. Nonetheless, investors will most likely welcome a 46.67% jump to $4 which is the analysts’ median price.
If we refocus on ThredUp Inc (NASDAQ:TDUP), historical trading data shows that trading volumes averaged 1.81 million over the past 3 months. The company’s latest data on shares outstanding shows there are 94.81 million shares.
The 24.28% of ThredUp Inc’s shares are in the hands of company insiders while institutional holders own 49.28% of the company’s shares. Current price change has pushed the stock 439.57% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the TDUP stock continues to rise going into the next quarter.
