FY2022 EPS Estimates for Shift Technologies, Inc. Decreased by William Blair (NASDAQ:SFT)

Shift Technologies, Inc. (NASDAQ:SFT – Get Rating) – Equities researchers at William Blair lowered their FY2022 EPS estimates for shares of Shift Technologies in a report issued on Monday, August 1st. William Blair analyst S. Zackfia now expects that the company will earn ($2.31) per share for the year, down from their prior estimate of ($2.30). William Blair has a “Market Perform” rating on the stock. The consensus estimate for Shift Technologies’ current full-year earnings is ($2.07) per share. William Blair also issued estimates for Shift Technologies’ FY2023 earnings at ($2.32) EPS.

Shift Technologies (NASDAQ:SFT – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.02. Shift Technologies had a negative net margin of 24.06% and a negative return on equity of 201.11%. The business had revenue of $219.58 million for the quarter, compared to analyst estimates of $210.19 million. During the same quarter in the prior year, the business posted ($0.55) EPS.

A number of other analysts have also weighed in on the stock. Benchmark lowered shares of Shift Technologies from a “buy” rating to a “hold” rating in a research note on Monday, May 16th. Wells Fargo & Company lowered shares of Shift Technologies from an “overweight” rating to an “equal weight” rating and set a $2.00 price objective on the stock. in a research note on Tuesday, May 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Shift Technologies in a research note on Wednesday, July 6th. Finally, BTIG Research lowered shares of Shift Technologies from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Shift Technologies presently has an average rating of “Hold” and an average target price of $6.89.

Shift Technologies Trading Up 2.6 %

Shares of Shift Technologies stock opened at $1.18 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 0.79 and a debt-to-equity ratio of 7.01. Shift Technologies has a 12-month low of $0.60 and a 12-month high of $9.75. The firm has a market capitalization of $100.00 million, a price-to-earnings ratio of -0.52 and a beta of 1.79. The firm’s 50 day simple moving average is $0.92 and its two-hundred day simple moving average is $1.52.

Institutional Trading of Shift Technologies

A number of hedge funds have recently added to or reduced their stakes in SFT. Mission Wealth Management LP purchased a new position in Shift Technologies during the fourth quarter valued at $34,000. UBS Group AG lifted its holdings in Shift Technologies by 537.9% during 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. ProShare Advisors LLC purchased a new position in Shift Technologies during the fourth quarter valued at $47,000. Colonial River Wealth Management LLC purchased a new position in Shift Technologies during the first quarter valued at $30,000. Finally, First Republic Investment Management Inc. purchased a new position in Shift Technologies during the first quarter valued at $31,000. 45.42% of the stock is owned by hedge funds and other institutional investors.

Shift Technologies Company Profile

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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.