Shift Technologies, Inc.

OTCPK:SFTG.Q Aktierapport

Börsvärde: US$1.7k

Shift Technologies Förvaltning

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Viktig information

Ayman Moussa

Verkställande direktör

n/a

Total ersättning

VD-lön i procentn/a
Anställning som VD1.3yrs
Ägande av VDn/a
Ledningens genomsnittliga anställningstid1.9yrs
Styrelsens genomsnittliga mandatperiod1.8yrs

Senaste uppdateringar av ledningen

Recent updates

Analysartikel • Nov 13

Analysts Just Made A Major Revision To Their Shift Technologies, Inc. (NASDAQ:SFT) Revenue Forecasts

One thing we could say about the analysts on Shift Technologies, Inc. ( NASDAQ:SFT ) - they aren't optimistic, having...
Seeking Alpha • Aug 10

Shift Technologies: More Roadkill In The Online Auto Retailing Space

Today, we take our first look at Shift Technologies, a fast-growing name in the ecommerce auto retailing space that just made a major purchase. Despite over 100% revenue growth last quarter, the company is far away from profitability. Shift Technologies just reported second quarter results. The company also disclosed it will acquire CarLotz. As overall auto sales in the U.S. are now declining, how will the company fare in the quarters ahead? An investment analysis follows in the paragraphs below. Sooner or later in life, we will all take our own turn being in the position we once had someone else in. ― Ashly Lorenzana Today, we put the spotlight on Shift Technologies (SFT) for the first time in this column. The company is in what has become a fast-growing part of auto retailing market, but one that has attracted myriad competitors. Despite solid revenue growth the stock finds itself deep in Busted IPO territory. The company just announced a major acquisition. Can the shares rebound? An analysis follows below. Seeking Alpha Company Overview: Shift Technologies is based in San Francisco. The company provides an ecommerce platform for buying and selling used cars and is in both the Retail and Wholesale parts of the market. Shift's platform 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. It also offers add on services such as vehicle service contracts wheel and tire coverage, and prepaid maintenance plans. The company came public via a merger with sponsored blank-check company, INSU Acquisition late in 2020. In March of this year, Shift agreed to acquire certain assets of Fair Technologies for a combination of cash and shares of Shift's Class A common stock. Part of the purchase was financed via notes at 6% interest due in 2025. Fair Technologies ran an online auto marketplace and the deal expanded the company's inventory, capabilities and added engineering and design team talent. The purchase provided customers greater access to a larger selection of owned and third-party vehicles for a test drive or direct purchase. The stock currently trades around $1.30 a share and has an approximate market capitalization of $110 million. First Quarter Results: On May 11th, the company posted first quarter numbers. The company had a GAAP loss of 70 cents a share, more than a dime a share less than expectations. Revenues rose more than 105% on a year-over-year basis to nearly $220 million. Even that robust growth was nearly $15 million below the consensus. The company sold 6,741 ecommerce vehicles during the quarter, up over 50% from the levels of 1Q2021. Second Quarter Results: The company reported second quarter results yesterday. Once again the company missed expectations both on the top and bottom lines. Shift Technologies posted a non-GAAP loss of 64 cents a share as revenue growth slowed to some 44% on a year-over-year basis to $223.7 million. The company also disclosed it will acquire CarLotz (LOTZ) in an all-stock deal. CarLotz had just over 2,400 vehicle sales in the second quarter. Growth is noticeably slowing in recent quarters. Year over year sales comparisons are also going to get harder in coming quarters as the company focuses on more profitable sales. In addition, overall autos sales are contracting as one can see here in July auto sales that show all the major manufacturing seeing significant demand challenges. This is due to higher interest rates, continued supply chain challenges and ebbing demand due to a fast slowing economy, which is likely in recession as I detailed earlier this week. Analyst Commentary & Balance Sheet: The analyst community is largely negative on the company at the moment. Since the last earnings report, four analyst firms including William Blair and BTIG have maintained downgraded the shares to a Hold rating. Only Piper Sandler ($9 price target) and Cantor Fitzgerald ($4 price target) have remained in the Bull camp. Approximately 20% of the shares outstanding are currently held short. There has been no insider activity in the shares for more than a year. The company ended the first quarter with just over $105 million worth of cash and marketable securities on the balance sheet after burning through $88 million worth of cash during the quarter. $38 million of that was to build inventory and additional funds were used for last year's incentive payment. Management anticipates cash burn will be reduced substantially in the coming quarters. Long term debt stands at approximately $145 million.
Seeking Alpha • May 19

Shift: The Clock Is Ticking. Going Bankrupt, Or To The Moon?

In my opinion, Shift is being priced for an imminent bankruptcy, with the used auto e-commerce platform's stock trading at ~1x cash levels. While Shift's liquidity situation remains challenging, the business is performing within management's guideposts, and the outlook for 2022 remains unchanged despite macro challenges. In this note, I discuss Shift's Q1 2022 results and its liquidity position. Furthermore, I lay out the binary nature of this bet. I rate Shift a strong buy at $1 per share due to the asymmetric risk/reward on offer.
Seeking Alpha • Mar 22

Shift Q4 Review: I Am More Bullish Than Ever

On 15th March, Shift delivered another record-breaking quarterly report with Q4 2021 sales and margins coming ahead of guidance. Despite guiding for some softness in Q1 results, Shift's management is looking at another year of rapid growth in 2022, with significant improvement in operational margins. On the earnings call, Shift's management expressed confidence in its path to profitability and its ability to attract investors. Softbank is financing Shift's $20M acquisition of Fair's dealer listing marketplace, and it is also an equity investor in Shift now. This is a great sign of confidence in Shift's business and management team. Shift's stock is trading at net cash levels, i.e., the stock is pricing in bankruptcy. With a clear path to profitability, Shift is a mispriced security, and I am more bullish on it than ever.
Seeking Alpha • Jan 12

Shift Is Now A Deep Value Play

In today's note, we will discuss Shift's latest quarterly report, in which the company grew at 200% y/y. The violent sell-off in growth stocks has left Shift trading below 1x of the cash on its balance sheet. It is fair to say, Shift is now in deep-value territory. While Shift's growth is enormous and the future appears brighter than ever, the company is not without risks, the details of which, I will share with you today. I continue to remain bullish on Shift's business, and as such, I rate it a strong buy at $3.
Seeking Alpha • Nov 30

What Happened To Shift Technologies

Shift Technologies reported strong Q3 earnings results. Yet, sellers have taken the stock down 30% post-earnings. The most likely cause of the severe weakness appears to be overhang from an expired lock-up period and the prospect of absorbing a massive percentage of outstanding shares.
Seeking Alpha • Oct 17

Shift Technologies: Significantly Undervalued

The DCF model indicates intrinsic value of $17.9. The company enjoys quite high consumer satisfaction level. The management is successfully improving margins and is expected to generate positive earnings in upcoming years.
Seeking Alpha • Jul 29

Shift: Shifts Gears Fast But Let's Connect The Dots First

The company's digital and inventory health remain strong, with a large room for improvement. Undoubtedly, growth and operational scale are the catalysts for improving margins and positive cash flow generation. Despite the unpredictability of cash flows and the reliance on external parties for financing, the overall market's and company's outlook are optimistic. SFT is the cheapest 'vehicle' to profit from the used car market boom. The company maintains attractive valuation metrics, considerably lower than its two leading competitors.
Analysartikel • Mar 11

Earnings Release: Here's Why Analysts Cut Their Shift Technologies, Inc. (NASDAQ:SFT) Price Target To US$12.33

Shift Technologies, Inc. ( NASDAQ:SFT ) shareholders are probably feeling a little disappointed, since its shares fell...
Analysartikel • Mar 10

News Flash: Analysts Just Made A Meaningful Upgrade To Their Shift Technologies, Inc. (NASDAQ:SFT) Forecasts

Shift Technologies, Inc. ( NASDAQ:SFT ) shareholders will have a reason to smile today, with the analysts making...

VD OCH KONCERNCHEF

Ayman Moussa

1.3yrs
Anställning

Mr. Ayman Moussa is Chief Executive Officer and Director of Shift Technologies, Inc. from June 9, 2023 and served as its Chief Operations Officer since 2023 until 2023. Mr. Moussa successfully founded and...

Ledningsgrupp

NamnPositionAnställningKompensationÄgarskap
Jeffrey Clementz
Strategic Advisor1.3yrsUS$2.47m0.16%
$ 2.8
Ayman Moussa
CEO & Director1.3yrsinga uppgifteringa uppgifter
Christian Ohler
Co-Founder11.7yrsinga uppgifteringa uppgifter
Tina Novoa
Senior Vice President of Operations1.7yrsinga uppgifteringa uppgifter
Keith Vertrees
Senior VP and Chief Product & Technology Officer2.1yrsinga uppgifteringa uppgifter
Tracy Notte
Chief People Officer1.7yrsinga uppgifteringa uppgifter
Mark McCollum
Chief Revenue Officer4yrsinga uppgifteringa uppgifter
Ryan Lawrence
Corporate Secretary2.8yrsinga uppgifteringa uppgifter
1.9yrs
Genomsnittlig anställningstid

Erfaren ledning: SFTG.Q s ledningsgrupp anses inte vara erfaren ( 1.9 års genomsnittlig anställningstid), vilket föreslår ett nytt team.

Styrelseledamöter

NamnPositionAnställningKompensationÄgarskap
Ayman Moussa
CEO & Director1.3yrsinga uppgifteringa uppgifter
James Skinner
Lead Independent Director1.8yrsUS$3.40k0.11%
$ 1.8
Kimberly Sheehy
Independent Director1.8yrsUS$3.71k0.93%
$ 15.9
Adam Nash
Independent Director3.9yrsUS$147.82k0.0084%
$ 0.1
1.8yrs
Genomsnittlig anställningstid
59yo
Genomsnittlig ålder

Erfaren styrelse: SFTG.Q s styrelse anses inte vara erfaren ( 1.8 års genomsnittlig mandatperiod), vilket föreslår en ny styrelse.

Företagsanalys och finansiella data Status

UppgifterSenast uppdaterad (UTC-tid)
Analys av företag2024/09/30 18:23
Aktiekurs vid dagens slut2024/09/27 00:00
Intäkter2023/06/30
Årlig intjäning2022/12/31

Datakällor

Den data som används i vår företagsanalys kommer från S&P Global Market Intelligence LLC. Följande data används i vår analysmodell för att generera denna rapport. Data är normaliserade vilket kan medföra en fördröjning från det att källan är tillgänglig.

PaketUppgifterTidsramExempel US-källa
Företagets finansiella ställning10 år
  • Resultaträkning
  • Kassaflödesanalys
  • Balansräkning
Analytikernas konsensusuppskattningar+3 år
  • Prognos för finansiella poster
  • Analytikernas prismål
Marknadspriser30 år
  • Aktiekurser
  • Utdelningar, splittar och åtgärder
Ägarskap10 år
  • Största aktieägare
  • Insiderhandel
Förvaltning10 år
  • Ledningsgrupp
  • Styrelse och verkställande direktörer
Viktiga utvecklingstendenser10 år
  • Företagsmeddelanden

* Exempel för amerikanska värdepapper, för icke-amerikanska värdepapper används motsvarande regelverk och källor.

Om inget annat anges är all finansiell data baserad på en årsperiod men uppdateras kvartalsvis. Detta kallas data för efterföljande tolv månader (TTM) eller senaste tolv månader (LTM). Lär dig mer om detta.

Analysmodell och snöflinga

Detaljer om analysmodellen som användes för att skapa den här rapporten finns på vår Github-sida, vi har också guider om hur du använder våra rapporter och tutorials på Youtube.

Lär dig mer om det team i världsklass som utformade och byggde analysmodellen Simply Wall St.

Industri- och sektormått

Våra bransch- och sektionsmått beräknas var sjätte timme av Simply Wall St, detaljer om vår process finns tillgängliga på Github.

Källor för analytiker

Shift Technologies, Inc. bevakas av 12 analytiker. 0 av dessa analytiker lämnade de uppskattningar av intäkter eller resultat som användes som indata till vår rapport. Analytikernas inskickade estimat uppdateras löpande under dagen.

AnalytikerInstitution
Michael WardBenchmark Company
Marvin FongBTIG
Benjamin SherlundCantor Fitzgerald & Co.