Shift Technologies, Inc. provides end-to-end auto ecommerce platform for buying and selling of used cars. The company operates through two segments, Retail and Wholesale. It engages in the retail sale of used vehicles through its platform that enables mobile digital transaction, such as 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. The company also provides value added products, such as vehicle service contracts, guaranteed asset protection waiver coverage, prepaid maintenance plans, and appearance protection plan. In addition, it is involved in the sale of used vehicles through wholesale auctions or directly to a wholesaler. The company was founded in 2013 and is based in San Francisco, California.
IPO Year: 2019
Exchange: NASDAQ
Website: shift.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/15/2022 | Neutral → Underweight | JP Morgan | |
| 8/10/2022 | $2.50 → $1.50 | Buy → Neutral | DA Davidson |
| 7/21/2022 | Outperform → Mkt Perform | William Blair | |
| 5/16/2022 | Buy → Hold | The Benchmark Company | |
| 5/4/2022 | Buy → Neutral | BTIG Research | |
| 5/3/2022 | $2.00 | Overweight → Equal Weight | Wells Fargo |
| 12/7/2021 | Overweight → Neutral | JP Morgan | |
| 12/3/2021 | $14.00 → $9.00 | Overweight | Wells Fargo |
| 10/5/2021 | $12.00 | Overweight | JP Morgan |
| 9/10/2021 | $12.00 | Buy | Truist Securities |
SAN FRANCISCO, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a consumer-centric omnichannel retailer for buying and selling used cars, today announced that it and its subsidiaries (collectively, "the Company") intend to file a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11") in the United States Bankruptcy Court ("the Court") to implement an orderly wind down of its business. To facilitate the process, the Company will utilize cash on hand and cash generated by the liquidation of inventory through wholesale channels to provide the necessary liquidity to support the wind down and closure of operations during the Chapter
SAN FRANCISCO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT) ("Shift" or the "Company"), a consumer-centric omnichannel retailer for buying and selling used cars, today reported second quarter financial results for the period ended June 30, 2023. Management's commentary on second quarter financial results can be found by accessing the Company's prepared remarks on investors.shift.com, or by listening to today's conference call. A live audio webcast will also be available on Shift's Investor Relations website. The following represents a summary of certain operating results (unaudited). Reconciliations and descriptions of non-GAAP financial measures to correspondin
SAN FRANCISCO, July 20, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a consumer-centric omnichannel retailer for buying and selling used cars, announced today that it will report its financial results for the second quarter 2023, which ended June 30, 2023. The conference call, hosted by management, will take place on Thursday, August 10, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results. What: Shift Second Quarter 2023 Earnings Conference CallWhen: Thursday, August 10, 2023Time: 2:00 p.m. PT (5:00 p.m. ET)Live Call: (833) 634-1255 or (412) 317-6015Live Webcast: https://investors.shift.com/ An archived webcast of the conference call will be ac
SAN FRANCISCO, July 11, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a consumer-centric omnichannel used auto retailer, today announced a plan to restructure and reduce the Company's workforce to better align people and responsibilities with the Company's omnichannel sales strategy. The restructuring plan is the result of a review by the Company's recently appointed CEO Ayman Moussa as well as evaluations conducted as part of the Company's review of strategic alternatives. The new structure is designed to improve the customer experience, increase efficiencies throughout the sales process, and better leverage our fixed costs. The Company has also decided to eliminate inve
SAN FRANCISCO, June 09, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT) today announced that its Board of Directors has appointed Ayman Moussa as Chief Executive Officer and a member of the Board, effective immediately June 9, 2023. Ayman Moussa is an automotive entrepreneur and CEO with over 20 years of industry experience and leadership. In 2009, he founded Carnamic, a group of new and pre-owned auto dealerships in Northern California. Carnamic has 8 locations and over $200 million in annual revenue. "With his considerable automotive dealership experience as a founder and operator and a proven track record, we are confident Ayman is ideally positioned to lead Shift during this critica
SAN FRANCISCO, May 11, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a consumer-centric omnichannel retailer for buying and selling used cars, today reported first quarter financial results for the period ended March 31, 2023. Management's commentary on first quarter financial results can be found by accessing the Company's prepared remarks on investors.shift.com, or by listening to today's conference call. A live audio webcast will also be available on Shift's Investor Relations website. First Quarter 2023 Operating Results Total revenue for the quarter was $57.7 million.Total retail units sold were 2,396.Gross profit per unit was $1,477; Adjusted gross profit per unit
SAN FRANCISCO, April 20, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that it will report its financial results for the first quarter 2023, which ended March 31, 2023. The conference call, hosted by management, will take place on Thursday, May 11, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results. What: Shift First Quarter 2023 Earnings Conference CallWhen: Thursday, May 11, 2023Time: 2:00 p.m. PT (5:00 p.m. ET)Live Call: (833) 634-1255 or (412) 317-6015Live Webcast: https://investors.shift.
SAN FRANCISCO, March 28, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that on March 22, 2023, the Company received formal notice from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") indicating that Shift has evidenced compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule5550(a)(2). The notice indicated that as a result of the closing bid price of the Company's common stock having been at least $1.00 per share for a minimum of 10 consecutive business days, the Company has regained c
Sold 2,520 retail units and achieved $65.6 million in revenueSuccessfully closed the merger with CarLotz and transitioned to omnichannel selling modelRegained compliance with Nasdaq Stock Market minimum bid price requirement SAN FRANCISCO, March 28, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today reported fourth quarter financial results for the period ended December 31, 2022. Management's commentary on fourth quarter financial results and outlook for the first quarter 2023 can be found by accessing the Company's prepared remarks on investors.shift.com, or by listening to today's conference cal
SAN FRANCISCO, March 09, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that it will report its financial results for the fourth quarter 2022, which ended December 31, 2022. The conference call, hosted by management, will take place on Tuesday, March 28, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results. What: Shift Fourth Quarter 2022 Earnings Conference CallWhen: Tuesday, March 28, 2023Time: 2:00 p.m. PT (5:00 p.m. ET)Live Call: (833) 634-1255 or (412) 317-6015Live Webcast: https://investors
SAN FRANCISCO, June 09, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT) today announced that its Board of Directors has appointed Ayman Moussa as Chief Executive Officer and a member of the Board, effective immediately June 9, 2023. Ayman Moussa is an automotive entrepreneur and CEO with over 20 years of industry experience and leadership. In 2009, he founded Carnamic, a group of new and pre-owned auto dealerships in Northern California. Carnamic has 8 locations and over $200 million in annual revenue. "With his considerable automotive dealership experience as a founder and operator and a proven track record, we are confident Ayman is ideally positioned to lead Shift during this critica
The social networking platform sets its go-forward leadership team ahead of public listing to continue and accelerate profitable growth The Board of Directors of Grindr (the "Board"), the #1 social network for the LGBTQ community, today announced that George Arison, one of the few openly gay public company CEOs in the US, has been named Grindr's new Chief Executive Officer effective October 19, 2022. Additionally, Vanna Krantz, former CFO of Disney Streaming Services, has been appointed Chief Financial Officer, effective September 26, 2022. This leadership announcement is part of a planned transition – originally announced along with the SPAC transaction in May – as Grindr prepares for its
SAN FRANCISCO, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT) and its Board of Directors announced today that Co-Founder and CEO George Arison will be stepping down as CEO effective September 1, 2022, and will be succeeded by the President of Shift, Jeff Clementz. Mr. Arison will continue in his role as Chairman of the Board of Directors. Arison started Shift in 2013. Since then, Shift has served over 100,000 customers and generated approximately $2 billion in cumulative revenue. In 2020, Arison became by all accounts the first ever openly gay founder-CEO to take an American company public. Since then, Shift has met or exceeded 27 of the 29 guidance metrics it has
SAN FRANCISCO, Nov. 08, 2021 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today the appointment of Ryan Lawrence as General Counsel and Corporate Secretary. "We are very excited to welcome Ryan as the newest member of Shift's senior management team," said Jeff Clementz, Shift's President. "His broad legal experience and breadth of knowledge will be instrumental in accelerating Shift's growth." Lawrence brings to the position over fifteen years of leadership experience across a large international law firm and multiple public co
SAN FRANCISCO, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that Jeff Clementz, recent SVP, GM of Walmart US Marketplace and Partner Operations, will be appointed as Shift's President, effective Oct. 1, 2021. "We are thrilled to welcome such a proven leader with a strong vision and aptitude for execution at this pivotal moment," said George Arison, Shift's Co-CEO and Co-Founder. "Jeff's experience scaling Walmart's massive ecommerce marketplace business and deep understanding of financial services will be instrumental in h
SAN FRANCISCO, June 24, 2021 (GLOBE NEWSWIRE) -- 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, today 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
SAN FRANCISCO, March 15, 2021 (GLOBE NEWSWIRE) -- Shift (NASDAQ: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, today announced the appointment of Oded Shein as the company’s Chief Financial Officer (CFO), responsible for all Finance, Accounting and Business Operations functions. Mr. Shein has extensive public company experience in the retail industry. He served as CFO of Stage Stores for seven years and is presently a Board Member and Chair of the Audit Committee at Conn’s HomePlus. He has also served as CFO of The Fresh Market and in senior finance roles at Belk and Charming Shoppes. Mr.
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SAN FRANCISCO, Aug. 10, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT) ("Shift" or the "Company"), a consumer-centric omnichannel retailer for buying and selling used cars, today reported second quarter financial results for the period ended June 30, 2023. Management's commentary on second quarter financial results can be found by accessing the Company's prepared remarks on investors.shift.com, or by listening to today's conference call. A live audio webcast will also be available on Shift's Investor Relations website. The following represents a summary of certain operating results (unaudited). Reconciliations and descriptions of non-GAAP financial measures to correspondin
SAN FRANCISCO, July 20, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a consumer-centric omnichannel retailer for buying and selling used cars, announced today that it will report its financial results for the second quarter 2023, which ended June 30, 2023. The conference call, hosted by management, will take place on Thursday, August 10, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results. What: Shift Second Quarter 2023 Earnings Conference CallWhen: Thursday, August 10, 2023Time: 2:00 p.m. PT (5:00 p.m. ET)Live Call: (833) 634-1255 or (412) 317-6015Live Webcast: https://investors.shift.com/ An archived webcast of the conference call will be ac
SAN FRANCISCO, May 11, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a consumer-centric omnichannel retailer for buying and selling used cars, today reported first quarter financial results for the period ended March 31, 2023. Management's commentary on first quarter financial results can be found by accessing the Company's prepared remarks on investors.shift.com, or by listening to today's conference call. A live audio webcast will also be available on Shift's Investor Relations website. First Quarter 2023 Operating Results Total revenue for the quarter was $57.7 million.Total retail units sold were 2,396.Gross profit per unit was $1,477; Adjusted gross profit per unit
SAN FRANCISCO, April 20, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that it will report its financial results for the first quarter 2023, which ended March 31, 2023. The conference call, hosted by management, will take place on Thursday, May 11, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results. What: Shift First Quarter 2023 Earnings Conference CallWhen: Thursday, May 11, 2023Time: 2:00 p.m. PT (5:00 p.m. ET)Live Call: (833) 634-1255 or (412) 317-6015Live Webcast: https://investors.shift.
Sold 2,520 retail units and achieved $65.6 million in revenueSuccessfully closed the merger with CarLotz and transitioned to omnichannel selling modelRegained compliance with Nasdaq Stock Market minimum bid price requirement SAN FRANCISCO, March 28, 2023 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today reported fourth quarter financial results for the period ended December 31, 2022. Management's commentary on fourth quarter financial results and outlook for the first quarter 2023 can be found by accessing the Company's prepared remarks on investors.shift.com, or by listening to today's conference cal
SAN FRANCISCO, March 09, 2023 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that it will report its financial results for the fourth quarter 2022, which ended December 31, 2022. The conference call, hosted by management, will take place on Tuesday, March 28, 2023 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results. What: Shift Fourth Quarter 2022 Earnings Conference CallWhen: Tuesday, March 28, 2023Time: 2:00 p.m. PT (5:00 p.m. ET)Live Call: (833) 634-1255 or (412) 317-6015Live Webcast: https://investors
Sold 4,855 ecommerce units and achieved $161.9 million in revenueAchieved strong Adjusted gross profit per unit of $1,925, despite macroeconomic headwinds and lower ASP vehiclesSuccessfully executed restructuring plan as outlined in last quarter's earnings call SAN FRANCISCO, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today reported third quarter financial results for the period ended September 30, 2022. Management's commentary on third quarter financial results and outlook for the fourth quarter and full year 2022 can be found by accessing the Company's prepared remarks on investors.sh
SAN FRANCISCO, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Shift (NASDAQ:SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced today that it will report its financial results for the third quarter 2022, which ended September 30, 2022. The conference call, hosted by management, will take place on Tuesday, November 8, 2022 at 2:00 p.m. PT (5:00 p.m. ET) and will cover the company's business and financial results. What: Shift Third Quarter 2022 Earnings Conference CallWhen: Tuesday, November 8, 2022Time: 2:00 p.m. PT (5:00 p.m. ET)Live Call: (833) 634-1255 or (412) 317-6015Live Webcast: https://investo
Shift to merge with CarLotz, a leading used vehicle consignment business; combined company estimated to have approximately $125 million of cash if the merger closes at the end of the year Shift is transitioning to a new business plan focused on transacting most sales through its most profitable online checkout channel, which allows consumers to purchase a vehicle online, sight unseen, for pickup or delivery. Updated financial model enables positive unit economics in 2023 and company-wide profitability in 2024 Current Shift President Jeff Clementz to serve as CEO effective September 1 SAN FRANCISCO, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ:SFT), a leading end
Second Quarter Revenue Grew 51% versus Last Year to $76.5 millionSecond Quarter Retail Unit Sales of 2,421Second Quarter F&I Revenue Grew 80% versus Last Year RICHMOND, Va., Aug. 09, 2022 (GLOBE NEWSWIRE) -- CarLotz, Inc. ((the "Company" or "CarLotz", NASDAQ:LOTZ), a consignment-to-retail used vehicle marketplace, today announced financial results for the second quarter ended June 30, 2022. Second Quarter 2022 Financial Results Net revenue increased 51% to $76.5 million from $50.8 million in the same period in 2021Retail unit sales increased 21% to 2,421 from 2,009 in the same period in 2021Finance & insurance revenue increased 80% to $3.2 million from $1.8 million in the s
JP Morgan downgraded Shift from Neutral to Underweight
DA Davidson downgraded Shift from Buy to Neutral and set a new price target of $1.50 from $2.50 previously
William Blair downgraded Shift from Outperform to Mkt Perform
The Benchmark Company downgraded Shift from Buy to Hold
BTIG Research downgraded Shift from Buy to Neutral
Wells Fargo downgraded Shift from Overweight to Equal Weight and set a new price target of $2.00
JP Morgan downgraded Shift Technologies from Overweight to Neutral
Wells Fargo reiterated coverage of Shift Technologies with a rating of Overweight and set a new price target of $9.00 from $14.00 previously
JP Morgan initiated coverage of Shift Technologies with a rating of Overweight and set a new price target of $12.00
Truist Securities initiated coverage of Shift Technologies with a rating of Buy and set a new price target of $12.00
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