Analysts Set Shift Technologies, Inc. (NASDAQ:SFT) Target Price at $6.14

Shares of Shift Technologies, Inc. (NASDAQ:SFTGet Rating) have been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $6.14.

Several research firms have issued reports on SFT. Benchmark lowered Shift Technologies from a “buy” rating to a “hold” rating in a research note on Monday, May 16th. BTIG Research cut shares of Shift Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 4th. Truist Financial cut their target price on shares of Shift Technologies from $12.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, March 16th. DA Davidson reduced their target price on shares of Shift Technologies from $7.00 to $3.00 in a report on Wednesday, March 16th. Finally, Piper Sandler cut their price objective 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.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Shift Technologies by 38.1% during the 3rd quarter. Royal Bank of Canada now owns 8,628 shares of the company’s stock worth $60,000 after acquiring an additional 2,379 shares during the last quarter. Invesco Ltd. raised its holdings in Shift Technologies by 23.0% in the 3rd quarter. Invesco Ltd. now owns 20,022 shares of the company’s stock valued at $139,000 after buying an additional 3,740 shares during the last quarter. Jacobi Capital Management LLC acquired a new stake in Shift Technologies during the 3rd quarter worth approximately $33,000. Advisor Group Holdings Inc. grew its holdings in Shift Technologies by 114.4% during the 3rd quarter. Advisor Group Holdings Inc. now owns 12,705 shares of the company’s stock worth $88,000 after acquiring an additional 6,780 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Shift Technologies by 47.8% in the third quarter. UBS Group AG now owns 23,383 shares of the company’s stock valued at $162,000 after buying an additional 7,557 shares during the period. Institutional investors and hedge funds own 45.42% of the company’s stock.

SFT opened at $1.00 on Friday. The business’s 50-day simple moving average is $1.78 and its 200 day simple moving average is $2.72. Shift Technologies has a 52-week low of $0.96 and a 52-week high of $9.75. The company has a debt-to-equity ratio of 7.01, a quick ratio of 0.79 and a current ratio of 1.82. The firm has a market capitalization of $82.68 million, a PE ratio of -0.44 and a beta of 1.30.

Shift Technologies (NASDAQ:SFTGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the company posted ($0.55) EPS. On average, research analysts forecast that Shift Technologies will post -2.06 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.

Further Reading

Analyst Recommendations for Shift Technologies (NASDAQ:SFT)

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