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Guggenheim Thinks thredUP’s Stock is Going to Recover

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Guggenheim analyst Seth Sigman maintained a Buy rating on thredUP (TDUPResearch Report) on May 10 and set a price target of $18.00. The company’s shares closed last Friday at $4.85, close to its 52-week low of $3.94.

According to TipRanks.com, Sigman is ranked 0 out of 5 stars with an average return of -9.8% and a 52.9% success rate. Sigman covers the Consumer Goods sector, focusing on stocks such as Revolve Group, Overstock, and Poshmark.

thredUP has an analyst consensus of Strong Buy, with a price target consensus of $11.50, implying a 134.2% upside from current levels. In a report issued on May 10, Needham also maintained a Buy rating on the stock with a $10.00 price target.

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The company has a one-year high of $31.86 and a one-year low of $3.94. Currently, thredUP has an average volume of 968.3K.

Based on the recent corporate insider activity of 112 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TDUP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

ThredUp Inc is an online resale platform for women and kids apparel, shoes, and accessories. It generates revenue from items that are sold to buyers through the website, mobile app, and RaaS partners.

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