ThredUp scales near six-month high on upbeat revenue forecast

ThredUp

07/03/2023 15:37

** Shares of second-hand apparel retailer ThredUp Inc
 TDUP.O  jump as much as 60% to a near six-month high of $2.59  
 
    ** Forecasts 2023 revenue above estimates on Monday, helped
by strong demand 
    ** Jefferies says results show some recovery in demand among
budget-oriented consumer but cuts PT to $4 from $5 on concerns
around elevated inventory levels
   ** Eight of 12 brokerages rate TDUP "buy" or higher, and four
"hold";  median PT is $3.50 - Refinitiv
    ** Stock last up at 34.7%
    ** Stock down over 72% in the past 12 months, through Monday
close

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))