-$0.56 EPS Expected for Shift Technologies, Inc. (NASDAQ:SFT) This Quarter

Equities research analysts forecast that Shift Technologies, Inc. (NASDAQ:SFT – Get Rating) will report earnings of ($0.56) per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for Shift Technologies’ earnings. The highest EPS estimate is ($0.50) and the lowest is ($0.63). Shift Technologies posted earnings of ($0.41) per share during the same quarter last year, which would suggest a negative year over year growth rate of 36.6%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Shift Technologies will report full-year earnings of ($2.06) per share for the current year, with EPS estimates ranging from ($2.43) to ($1.57). For the next financial year, analysts anticipate that the company will post earnings of ($1.82) per share, with EPS estimates ranging from ($2.44) to ($0.76). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Shift Technologies.

Shift Technologies (NASDAQ:SFT – Get Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.72) by $0.02. Shift Technologies had a negative return on equity of 201.11% and a negative net margin of 24.06%. During the same period last year, the business posted ($0.55) earnings per share.

SFT has been the topic of a number of recent analyst reports. Wells Fargo & Company downgraded Shift Technologies from an “overweight” rating to an “equal weight” rating and set a $2.00 price target on the stock. in a research report on Tuesday, May 3rd. Northland Securities lowered their target price on shares of Shift Technologies from $12.00 to $6.00 in a research note on Wednesday, March 16th. Piper Sandler lowered their target price on shares of Shift Technologies from $17.00 to $10.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 30th. Zacks Investment Research lowered shares of Shift Technologies from a “buy” rating to a “hold” rating in a research note on Friday, January 28th. Finally, BTIG Research downgraded shares of Shift Technologies from a “buy” rating to a “neutral” rating in a report on Wednesday, May 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $6.55.

Large investors have recently made changes to their positions in the stock. Nomura Holdings Inc. increased its stake in Shift Technologies by 4.5% in the first quarter. Nomura Holdings Inc. now owns 2,972,220 shares of the company’s stock valued at $6,263,000 after purchasing an additional 126,954 shares during the period. First Republic Investment Management Inc. purchased a new stake in Shift Technologies during the first quarter worth about $31,000. Invesco Ltd. lifted its holdings in shares of Shift Technologies by 794.8% in the first quarter. Invesco Ltd. now owns 163,459 shares of the company’s stock valued at $359,000 after purchasing an additional 145,191 shares in the last quarter. UBS Group AG lifted its holdings in shares of Shift Technologies by 537.9% in the first quarter. UBS Group AG now owns 12,560 shares of the company’s stock valued at $27,000 after purchasing an additional 10,591 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Shift Technologies by 217.3% in the first quarter. Renaissance Technologies LLC now owns 694,192 shares of the company’s stock valued at $1,527,000 after buying an additional 475,397 shares during the last quarter. Hedge funds and other institutional investors own 45.42% of the company’s stock.

Shares of NASDAQ:SFT traded down $0.10 during trading hours on Tuesday, hitting $0.91. 1,218,373 shares of the company’s stock traded hands, compared to its average volume of 3,008,675. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.82 and a quick ratio of 0.79. The firm has a market capitalization of $75.31 million, a P/E ratio of -0.40 and a beta of 1.30. The business has a fifty day moving average price of $1.76 and a 200-day moving average price of $2.68. Shift Technologies has a 1 year low of $0.90 and a 1 year high of $9.75.

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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