PIXY Continues To Trend Green On Today's Big Breaking News, Here's What You Need To Know

PIXY Continues To Trend Green On Today's Big Breaking News, Here's What You Need To Know Upside Potential To Analyst's [$50 Price Target]( [Zacks Small-Cap Research Report]( July 29th, 2020 FierceAnalyst Member, After a smoking hot morning from PIXY where we saw a high of $5.33, today's NASDAQ profile continues to trend green. This could be a big sign of what's to come. Remember, as I highlighted in my initial report below, PIXY is known to make stunning short-term runs of over triple-digits. Could today's news be the catalyst to light that next fire? Make sure to re-read the press release again as it highlights the launch of a new suite of "marketing and support services." Here it is: ShiftPixy Introduces ShiftPixy Labs Exciting new suite of services extends ShiftPixy’s support of QSR end-to-end needs IRVINE, Calif., July 29, 2020 (GLOBE NEWSWIRE) -- ShiftPixy, Inc. (NASDAQ: PIXY), a California-based gig engagement platform provider, today announced the launch of ShiftPixy Labs – a new suite of marketing and support services for quick service restaurant operators (QSRs) seeing increased opportunities in the gig economy due to c-virus restrictions and lockdowns. [...] Through its unique gig engagement platform, ShiftPixy empowers restaurant operators to take full advantage of their human capital with powerful functionality to handle payroll, compliance and native delivery. The Company expects ShiftPixy Labs to provide additional layers of services and engagement, from business startup clear through to customer meal delivery. “2020 has been a year of tremendous growth and transformation for ShiftPixy and I’m proud of the work we’ve accomplished in helping restaurants adapt to the challenges posed by CV-19,” said ShiftPixy Co-Founder and CEO Scott Absher. “ShiftPixy Labs is the next stage in our evolution. This is a bold new project that’s aiming to change the way restaurants are built from the ground up. In light of the combined forces of gig economics and CV, we think ShiftPixy Labs will be a vital resource for making operators agile amid market upheavals like we are experiencing today. We look forward to sharing more details of this exciting venture in the coming weeks.” Read the [full article here]( and my initial PIXY report below . ----- #1 Key Catalyst For ShiftPixy, Inc. Is "Triple Digit Moves" - 1/7/200 PIXY closed $8.07 - 1/8/2020 the stock hit $27.50 = 240% Gain - 3/8/2020 PIXY opened $5.25 the stock hit $16.93 = 222% Intraday Gain - 4/14/2020 PIXY opened $4.93 - 4/15/2020 the stock hit $11.40 = 113% Gain - 5/18/2020 PIXY opened $6.36 - 5/19/2020 the stock hit $15.56 = 144% Gain #2 Key Catalyst For ShiftPixy, Inc. Is Enormous Upside Potential Stated In Zacks Small-Cap Research Report Price Target Of $50.00/share Zacks Small Cap Research coverage specifically looks to focus on small and micro-cap companies that are under followed or under valued by Wall Street. Our analysts seek to identify and report on these companies, bringing investors a unique opportunity to gain insight on small cap investments. Zacks SCR's goal is to produce high quality, institutional, research for the small cap portfolio. Here is the link to the [PIXY report](. About ShiftPixy ShiftPixy, Inc. provides employment administrative services for businesses; and workers in shift or other part-time/temporary jobs in the United States. The company also operates as a payroll processor, human resources consultant, and administrator of workers' compensation coverages and claims. It primarily serves restaurant, hospitality, and maintenance service industries. The company was founded in 2015 and is headquartered in Irvine, California. ShiftPixy is a disruptive human capital management platform, revolutionizing employment in the Gig Economy by delivering a next-gen mobile engagement technology to help businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management's nearly 25 years of workers' compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy. #3 Key Catalyst For ShiftPixy, Inc. Is Out Of The Box Thinking ShiftPixy is taking a unique approach to solving the human resource management problems of the gig economy. Its solution is to have its customers move their workers over to be employed by ShiftPixy, which then acts as a staffing agency for the customer. By pooling the employees of many smaller companies, ShiftPixy can administrate the human resource management function with economies of scale. In return for providing insurance, payroll processing, benefits, and compliance services these enterprises pay ShiftPixy a fee based on their payroll, that is much less than the cost of doing these functions in-house.                                ShiftPixy first targeted the underserved restaurant and hospitality industry vertical, particularly small, and medium businesses (SMBs) with 100-500 employees. These companies are the main victims of increasing regulation. As of August 31, ShiftPixy served about 246 clients who utilized over 13,000 workers. We believe there are three million restaurant and hospitality entities with under 500 employees in the US and we estimate this vertical market size is $3Bn in service fee revenue, or $30Bn in gross billings including wages. #4 Key Catalyst For ShiftPixy, Inc. Is Technology Another differentiator for ShiftPixy is its mobile app that has been launched and is rolling out capabilities. It is being used now to onboard new employees. It has added the car insurance metering product for deliveries and scheduling between restaurants and shift workers by matching qualified workers to shifts, while giving workers access to their schedules and earnings in real-time which are both being tested by a few customers. Later it will also create a social job-seeking network for matching job openings with workers. Like a match.com it will let employers find shift workers to fill available hours and workers to find jobs. This can be used not only to fill temp or shift work but as a resource for permanent hires. Since all the workers in the network are already employees of ShiftPixy, a restaurant can get a fill in or even hire someone without any additional paperwork or onboarding. In the future this app will allow non-ShiftPixy employees to search for job opportunities. ShiftPixy, Inc. (NASDAQ: PIXY) Key Shareholder Highlights 2020 Third Quarter Financial Highlights -- Significantly improved balance sheet with cash position of $10.8 million and no long-term debt as of May 31, 2020 compared to cash of $0.4 million and long-term debt of $3.6 million as of February 29, 2020. -- Successfully closed $12 million public equity offering on May 26, 2020 and an additional $1.3 million through July 7, 2020. -- Resolved NASDAQ Delisting issue; cleared by NASDAQ after recapitalization. -- EBITDAS Loss (Operating Loss excluding depreciation and share-based compensation) improved to $3.9 million from $4.1 million the prior year period due to improved margins and reduced spending on our mobile application, offset by increased operating costs. -- Despite COVID-19 related impacts on our Southern California based restaurant customers, gross billings grew 21% to $14.4 million, or $57.6 million on an annualized basis, compared to $11.9 million or $47.6 million for Q3-2019. -- Revenues increased 23% to $2.0 million compared to $1.6 million in the prior-year period. -- Gross profit was $141,000 including a $280,000 charge for additional workers' compensation reserves, compared to $171,000 for Q3 2019. Excluding the COVID-19 related workers' comp charge, gross profit would be 20.9% of revenues compared to 8.6% of revenues for Q3-2019. -- Operating expenses were $4.7 million compared to $4.5 million in Q3 2019. Excluding non-recurring charges, operating expenses were $4.0 million for Q3 2020. Conclusion: Between Zack's research report price target of $50.00/share, historic triple digit moves, and a niche in the pandemic marketplace, I urge you to pay close attention to (PIXY). If there are any more updates today, I'll get them out to you quickly. Sincerely, Fierce Analyst | Jaks Swift Editorial Writer I am not a licensed financial adviser. All potential percentage gains are based on from the low to the high of day. Fierce full disclosure is to be read and fully understood before using Fierce's website, or joining Fierce's email or text list. 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