Shift Technologies, Inc. (NASDAQ:SFT) Receives Average Rating of “Buy” from Brokerages

Shift Technologies, Inc. (NASDAQ:SFTGet Rating) has been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.50.

A number of equities research analysts have commented on the stock. Northland Securities cut their target price on shares of Shift Technologies from $12.00 to $6.00 in a research report on Wednesday, March 16th. Piper Sandler cut their target price on shares of Shift Technologies from $17.00 to $10.00 and set an “overweight” rating for the company in a research report on Wednesday, March 30th. DA Davidson cut their price objective on shares of Shift Technologies from $7.00 to $3.00 in a research report on Wednesday, March 16th. Zacks Investment Research downgraded shares of Shift Technologies from a “buy” rating to a “hold” rating in a research report on Friday, January 28th. Finally, BTIG Research cut their price objective on shares of Shift Technologies from $12.00 to $7.00 in a research report on Tuesday, January 18th.

Several hedge funds and other institutional investors have recently made changes to their positions in SFT. Brave Asset Management Inc. grew its stake in Shift Technologies by 100.0% in the 1st quarter. Brave Asset Management Inc. now owns 26,000 shares of the company’s stock worth $57,000 after acquiring an additional 13,000 shares in the last quarter. Colonial River Wealth Management LLC bought a new position in shares of Shift Technologies during the first quarter valued at approximately $30,000. BlackRock Inc. boosted its stake in shares of Shift Technologies by 4.2% during the fourth quarter. BlackRock Inc. now owns 4,398,223 shares of the company’s stock valued at $14,997,000 after purchasing an additional 177,485 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Shift Technologies by 621.9% during the fourth quarter. Wells Fargo & Company MN now owns 397,067 shares of the company’s stock valued at $1,353,000 after purchasing an additional 342,067 shares in the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of Shift Technologies by 96.9% during the fourth quarter. Virtu Financial LLC now owns 141,760 shares of the company’s stock valued at $483,000 after purchasing an additional 69,756 shares in the last quarter. Hedge funds and other institutional investors own 40.44% of the company’s stock.

NASDAQ SFT traded up $0.03 during mid-day trading on Monday, reaching $1.57. The stock had a trading volume of 34,500 shares, compared to its average volume of 3,313,768. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.34 and a quick ratio of 1.48. Shift Technologies has a 1 year low of $1.48 and a 1 year high of $9.75. The stock has a market cap of $130.22 million, a PE ratio of -0.73 and a beta of 1.02. The company has a fifty day moving average price of $2.00 and a 200 day moving average price of $3.52.

Shift Technologies (NASDAQ:SFTGet Rating) last posted its earnings results on Tuesday, March 15th. The company reported ($0.71) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.08). Shift Technologies had a negative return on equity of 123.19% and a negative net margin of 26.11%. The company had revenue of $196.22 million during the quarter, compared to the consensus estimate of $184.34 million. During the same period last year, the firm posted ($0.44) EPS. As a group, equities research analysts expect that Shift Technologies will post -2.26 earnings per share for the current year.

About Shift Technologies (Get Rating)

Shift Technologies, Inc, together with its subsidiaries, provides an ecommerce platform for buying and selling used cars. The company operates in two segments, Retail and Wholesale. It engages in the retail sale of used vehicles through its platform that enables mobile digital transaction, such as at-home car searching, scheduling an on-demand test drive, and purchasing at home or at the preferred site of a test drive, as well as provides financing and services.

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Analyst Recommendations for Shift Technologies (NASDAQ:SFT)

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