ThredUP initiated with an Outperform at Northland

Northland initiated coverage of ThredUP (TDUP) with an Outperform rating and $9 price target The digital resale marketplace is “at a compelling inflection point” supported by several factors, most notably a recently narrowed focus on its core business, the analyst tells investors. The narrowed focus is leading to accelerating growth, notes the analyst, who believes further gains can occur despite the stock’s “stellar” year-to-date share performance as investors gain confidence in the durability of this inflection.