ThredUP price target lowered to $7 from $9 at Telsey Advisory

Telsey Advisory lowered the firm’s price target on ThredUP (TDUP) to $7 from $9 and keeps an Outperform rating on the shares. The company had a “nice start” to the year, with better-than-expected revenue, gross margin, and adjusted EBITDA, the analyst tells investors. While there is some concern related to the continued macro uncertainty, the firm continues to see long-term benefit from ThredUP’s positioning in the resale market.