Cantor Fitzgerald lifts Shift Technologies Inc. [SFT] price estimate. Who else is bullish?

Shift Technologies Inc. [NASDAQ: SFT] loss -0.90% or -0.08 points to close at $8.79 with a heavy trading volume of 1557910 shares. The company report on June 24, 2021 that Shift Adds Retail Veteran Jason Curtis As Chief Accounting Officer.

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Shift (NASDAQ: SFT), a leading end-to-end auto ecommerce platform that is transforming the used car industry with a technology-driven, hassle-free customer experience, announced the appointment of Jason Curtis as Chief Accounting Officer.

In this newly created role, Curtis will be responsible for all accounting and SEC reporting functions. Curtis’s extensive public company finance and accounting experience in the retail industry will support Shift’s rapid growth. Most recently, he served as CFO of Boscov’s, a family owned department store chain. Previously, he was CFO of Stage Stores, a public company where he also held various senior finance and accounting roles and worked closely with Shift’s CFO Oded Shein.

It opened the trading session at $8.93, the shares rose to $9.03 and dropped to $8.67, the range by which the price of stock traded the whole day. The daily chart for SFT points out that the company has recorded -6.79% loss over the past six months. However, it is still -42.69% lower than its most recent low trading price.

If we look at the average trading volume of 1.61M shares, SFT reached to a volume of 1557910 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Shift Technologies Inc. [SFT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SFT shares is $12.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SFT stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Cantor Fitzgerald have made an estimate for Shift Technologies Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 10, 2021. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on June 04, 2021, representing the official price target for Shift Technologies Inc. stock.

The Average True Range (ATR) for Shift Technologies Inc. is set at 0.39, with the Price to Sales ratio for SFT stock in the period of the last 12 months amounting to 2.75. The Price to Book ratio for the last quarter was 3.38, with the Price to Cash per share for the same quarter was set at 2.08.

Trading performance analysis for SFT stock

Shift Technologies Inc. [SFT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.27. With this latest performance, SFT shares gained by 31.59% in over the last four-week period, additionally sinking by -6.79% over the last 6 months – not to mention a drop of -27.36% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SFT stock in for the last two-week period is set at 62.85, with the RSI for the last a single of trading hit 67.85, and the three-weeks RSI is set at 58.80 for Shift Technologies Inc. [SFT]. The present Moving Average for the last 50 days of trading for this stock 7.89, while it was recorded at 8.53 for the last single week of trading, and 8.99 for the last 200 days.

Shift Technologies Inc. [SFT]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Shift Technologies Inc. [SFT] shares currently have an operating margin of -38.96 and a Gross Margin at +3.91. Shift Technologies Inc.’s Net Margin is presently recorded at -30.22.

Return on Total Capital for SFT is now -38.35, given the latest momentum, and Return on Invested Capital for the company is -30.82. Return on Equity for this stock declined to -30.82, with Return on Assets sitting at -25.39. When it comes to the capital structure of this company, Shift Technologies Inc. [SFT] has a Total Debt to Total Equity ratio set at 5.85. Additionally, SFT Total Debt to Total Capital is recorded at 5.52, with Total Debt to Total Assets ending up at 4.44.

Reflecting on the efficiency of the workforce at the company, Shift Technologies Inc. [SFT] managed to generate an average of -$71,779 per employee. Receivables Turnover for the company is 46.46 with a Total Asset Turnover recorded at a value of 0.84.Shift Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.00 and a Current Ratio set at 4.10.

An analysis of insider ownership at Shift Technologies Inc. [SFT]

There are presently around $267 million, or 47.10% of SFT stock, in the hands of institutional investors. The top three institutional holders of SFT stocks are: NANTAHALA CAPITAL MANAGEMENT, LLC with ownership of 5,006,840, which is approximately 32.163% of the company’s market cap and around 8.00% of the total institutional ownership; FMR LLC, holding 4,455,811 shares of the stock with an approximate value of $39.17 million in SFT stocks shares; and GOLDMAN SACHS GROUP INC, currently with $23.42 million in SFT stock with ownership of nearly 3.762% of the company’s market capitalization.

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Positions in Shift Technologies Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 51 institutional holders increased their position in Shift Technologies Inc. [NASDAQ:SFT] by around 6,100,154 shares. Additionally, 40 investors decreased positions by around 7,673,636 shares, while 5 investors held positions by with 16,655,971 shares. The mentioned changes placed institutional holdings at 30,429,761 shares, according to the latest SEC report filing. SFT stock had 30 new institutional investments in for a total of 2,240,540 shares, while 17 institutional investors sold positions of 4,061,881 shares during the same period.

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