ThredUp shares are trading higher after the company reported better-than-expected Q2 financial results and issued revenue guidance for Q3 and Q4. Also, Goldman Sachs raised its price target from $3 to $4 on the stock.
Portfolio Pulse from Benzinga Newsdesk
ThredUp reported better-than-expected Q2 financial results and issued revenue guidance for Q3 and Q4, leading to a rise in its share price. Goldman Sachs also raised its price target on the stock from $3 to $4.
August 09, 2023 | 5:00 pm
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POSITIVE IMPACT
ThredUp's strong Q2 results and positive revenue guidance for the next two quarters, along with Goldman Sachs' increased price target, have led to a rise in its share price.
ThredUp's better-than-expected Q2 results and positive revenue guidance for Q3 and Q4 indicate strong financial performance, which is a positive signal to investors. Additionally, Goldman Sachs' increased price target suggests a positive outlook for the stock, further boosting investor confidence and leading to a rise in the share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100