ThredUP reinstated with a Hold at Needham

Needham reinstated coverage of ThredUP (TDUP) with a Hold rating and no price target ThredUP is benefitting from the “two key themes,” of recommerce and automation and the firm sees the potential for the company to benefit from these two tailwinds over the medium term. However, it thinks the larger investment headwind of contracting revenue will be “the more powerful driver of the stock over the next year,” the analyst tells investors.