Needham analyst Bernie McTernan has reiterated their neutral stance on TDUP stock, giving a Hold rating on October 30.
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Bernie McTernan has given his Hold rating due to a combination of factors including thredUP’s strong third-quarter performance characterized by accelerating growth and a record number of new buyers acquired at historically low customer acquisition costs. Despite these positive indicators, McTernan notes that thredUP is not complacent, as it continues to enhance its customer experience and explore new product offerings such as peer-to-peer selling, which could expand its total addressable market.
However, the analyst remains cautious, citing concerns over valuation and the possibility that the current performance might represent a peak for thredUP. While the company’s growth prospects are improving due to these product enhancements, McTernan’s Hold rating reflects a balanced view of the potential risks and rewards at this stage.
In another report released on October 30, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $9.00 price target.