UPDATE: Jefferies Starts ThredUp Inc. (TDUP) at Buy

Jefferies analyst Ashley Helgans initiates coverage on ThredUp Inc. (NASDAQ: TDUP) with a Buy rating and a price target of $13.00.

The analyst comments "ThredUp is uniquely positioned in the resale industry as the only managed marketplace for mass apparel & footwear. Robust secular tailwinds are fueling 30% industry growth, and inflationary pressures may result in an additional boost. Its infrastructure creates a wide competitive moat and is set to scale. Retail-as-a-Service offering is differentiated and has potential to drive significant upside to models with its SAAS-like margins. Initiate at Buy, $13 PT."

For an analyst ratings summary and ratings history on ThredUp Inc. click here. For more ratings news on ThredUp Inc. click here.

Shares of ThredUp Inc. closed at $7.28 yesterday.

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