Shift Technologies (NASDAQ:SFT) Given New $4.00 Price Target at Cantor Fitzgerald

Shift Technologies (NASDAQ:SFTGet Rating) had its price objective lowered by Cantor Fitzgerald from $8.00 to $4.00 in a report published on Wednesday morning, The Fly reports. Cantor Fitzgerald also issued estimates for Shift Technologies’ FY2022 earnings at ($1.57) EPS.

Several other equities analysts also recently issued reports on the stock. Truist Financial cut their price objective on shares of Shift Technologies from $12.00 to $6.00 and set a buy rating on the stock in a report on Wednesday, March 16th. Piper Sandler cut their price objective on shares of Shift Technologies from $17.00 to $10.00 and set an overweight rating on the stock in a report on Wednesday, March 30th. Northland Securities cut their price target on shares of Shift Technologies from $12.00 to $6.00 in a report on Wednesday, March 16th. BTIG Research downgraded shares of Shift Technologies from a buy rating to a neutral rating in a report on Wednesday, May 4th. Finally, Zacks Investment Research downgraded shares of Shift Technologies from a buy rating to a hold rating in a report on Friday, January 28th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $6.55.

SFT stock opened at $1.20 on Wednesday. Shift Technologies has a one year low of $1.03 and a one year high of $9.75. The company has a debt-to-equity ratio of 7.01, a current ratio of 1.82 and a quick ratio of 1.48. The firm has a 50-day simple moving average of $1.85 and a two-hundred day simple moving average of $2.99.

Shift Technologies (NASDAQ:SFTGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate 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%. During the same quarter in the prior year, the company earned ($0.55) EPS. Equities research analysts expect that Shift Technologies will post -2.08 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Colonial River Wealth Management LLC acquired a new stake in shares of Shift Technologies during the 1st quarter worth approximately $30,000. Jacobi Capital Management LLC acquired a new stake in shares of Shift Technologies during the 3rd quarter worth approximately $33,000. Mission Wealth Management LP acquired a new stake in shares of Shift Technologies during the 4th quarter worth approximately $34,000. Adviser Investments LLC acquired a new stake in shares of Shift Technologies during the 4th quarter worth approximately $42,000. Finally, ProShare Advisors LLC purchased a new position in shares of Shift Technologies during the 4th quarter valued at approximately $47,000. 45.42% of the stock is currently owned by institutional investors and hedge funds.

Shift Technologies Company Profile (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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