Shift Technologies

Shift Technologies, Inc. provides online automobile purchasing services. It also provides end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. The firm operates through the following segments: Retail and Wholesale. The Retail segment represents retail sales of used vehicles through its ecommerce platform and fees earned on sales of value-added products associated with those vehicles sales such as vehicle service contracts, guaranteed asset protection waiver coverage, prepaid maintenance plans, and appearance protection plans. The Wholesale segment represents sales of used vehicles through wholesale auctions or directly to a wholesaler. The company was founded by Irakly George Areshidze Arison, Toby Russell and Christian Ohler in 2013 and is headquartered in San Francisco, CA.

Earnings data Q2 2024

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Shift (SFT) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Earnings Season Could Be Great for Shift (SFT)

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.

Ryan Lawrence Named General Counsel at Shift

SAN FRANCISCO, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT) and its Board of Directors announced today that Toby Russell will be stepping down as Co-CEO on Feb. 1, 2022. Russell will continue to serve on the company's Board of Directors and as Strategic Advisor to the company following his transition.

Shift Co-CEO Toby Russell to Step Down, Remain on Board of Directors

SAN FRANCISCO, Oct. 22, 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 it will report its financial results from the third quarter of fiscal year 2021, which ended September 30, 2021. The conference call, hosted by management, will take place on Thursday, November 11, 2021 at 5:00 p.m. ET (2 p.m. PT) and will cover the company's business and financial results.

Shift to Report Third Quarter of Fiscal Year 2021 Financial Results on November 11, 2021

The DCF model indicates intrinsic value of $17.9. The company enjoys quite high consumer satisfaction level.

Shift Technologies: Significantly Undervalued

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.

Shift Appoints Experienced Ecommerce Leader Jeff Clementz as President

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The stock price of Shift Technologies Inc (NASDAQ: SFT) increased by over 5% pre-market. This is why it happened.

SFT Stock Price Increases Over 5% Pre-Market: Why It Happened

Shift Technologies Inc (NASDAQ: SFT) reported second-quarter FY21 sales growth of 377% year-on-year, to $154.9 million, beating the analyst consensus of $125.6 million. Total units sold were 7,815, a rise of 240% Y/Y, with the e-commerce channel growing 222% to 5,871 units.

Shift Technologies Stock Gains After Q2 Beat, Raised FY21 Outlook

Shift Technologies, Inc. (SFT) CEOs George Arison and Toby Russell on Q2 2021 Results - Earnings Call Transcript

Shares of Shift Technologies (NASDAQ:SFT) rose in after-market trading after the company reported Q2 results. Quarterly Results Earnings per share rose 92.92% over the past year to ($0.41), which beat the estimate of ($0.44).

Recap: Shift Technologies Q2 Earnings

SAN FRANCISCO, Aug. 10, 2021 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today reported second quarter financial results for the period ended June 30, 2021. Management's commentary on second quarter financial results and third quarter and full year 2021 outlook can be found by accessing the Company's shareholder letter 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.

Shift Grows Revenue 377% in Q2'2021, Raises Guidance for 2021

SAN FRANCISCO, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today announced that senior management will attend the following upcoming investor conferences:

Shift to Attend Upcoming Investor Conferences

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.

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

SAN FRANCISCO, July 21, 2021 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, announced today that it will report second quarter of fiscal year 2021 financial results for the period ended June 30, 2021, following the close of the market on Tuesday, August 10, 2021. On that day management will host a conference call and webcast at 2 p.m. PT (5 p.m. ET) to discuss the company's business and financial results.

Shift to Report Second Quarter of Fiscal Year 2021 Financial Results on August 10, 2021

Third and fourth sales markets in Texas include signature test drive delivery service Third and fourth sales markets in Texas include signature test drive delivery service

Shift Begins Selling Cars to Customers in Dallas-Fort Worth Area

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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.

Shift Adds Retail Veteran Jason Curtis As Chief Accounting Officer

Shift is one of the most compelling ways to play the transformational change in consumer buying and selling patterns in the used car market. In the United States alone, the used car industry is estimated to be worth $840B per year. However, this market is still highly fragmented and e-commerce penetration remains below 2%.

Shift Technologies: Massive Growth At A Depressed Valuation

SAN FRANCISCO, June 01, 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 completed purchases of SFT Class A common stock on the open market by certain Section 16 and other executives: Co-Founder and Co-CEO Toby Russell; Co-Founder and Co-CEO George Arison; Chief Financial Officer (CFO) Oded Shein; and Chief Revenue Officer (CRO) Mark McCollum.

Shift Executives Announce Purchase of Shares

SAN FRANCISCO, May 27, 2021 (GLOBE NEWSWIRE) -- Shift (Nasdaq: SFT), a leading end-to-end ecommerce platform for buying and selling used cars, today announced that senior management will present to the investment community at the following upcoming investor conferences:

Shift to Present at Upcoming Investor Conferences

SAN FRANCISCO, May 25, 2021 (GLOBE NEWSWIRE) -- Shift Technologies, Inc. (NASDAQ: SFT ) today announced the pricing of $125,000,000 aggregate principal amount of 4.75% convertible senior notes due 2026 (the "notes") in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Act"). Shift also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date notes are first issued, up to an additional $25 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on May 27, 2021, subject to customary closing conditions, and is expected to result in approximately $119.7 million in net proceeds to Shift after deducting the initial purchasers' discount and estimated offering expenses payable by Shift (assuming no exercise of the initial purchasers' option to purchase additional notes). The size of the offering was increased from the previously announced $75,000,000 aggregate principal amount of the notes.

Shift Technologies, Inc. Announces Pricing of Upsized $125,000,000 Convertible Notes Offering

The stock price of Shift Technologies, Inc. (NASDAQ: SFT) fell by 11.51% yesterday. This is why it happened.

SFT Stock Price: 11.51% Decrease Explanation

Ongoing cash burn is leading the company to raise some cash.

News for Shift Technologies Stock (SFT)