ThredUp Shares Jump 32% On Record Customer Growth, Upbeat Forecast; Analyst Sees More Upside

ThredUp Inc. TDUP reported a good first-quarter beat and raised its full-year guidance, driven by record new buyer growth, according to Telsey Advisory Group.

The ThredUp Analyst: Analyst Dana Telsey maintained an Outperform rating, while raising the price target from $6 to $7.

The ThredUp Thesis: The company reported better-than-expected results "across the board," with total revenue of $71.3 million and adjusted EBITDA of $3.8 million, topping consensus of $2.2 million and $68.2 million, respectively, Telsey said in the note.

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ThredUp posted a record 95% growth in new buyers in the first quarter, "while orders also grew mid-teens in the period," the analyst added.

Strong new buyer growth continued into the second quarter, with April recording the strongest customer acquisition month in the company’s history, Telsey stated.

Management raised their 2025 revenue guidance from $270-$280 million to $281-$291 million, ahead of consensus of $276.4 million, Telsey said. The new revenue guidance reflects "an improvement in the remainder of the year," she further wrote.

TDUP Price Action: Shares of ThredUp jumped 32% to $5.88 at the time of publication on Tuesday.

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