Giftify (NASDAQ:GIFT) Stock Crosses Above Fifty Day Moving Average – Here’s Why

Giftify, Inc. (NASDAQ:GIFT)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $0.67 and traded as high as $0.7298. Giftify shares last traded at $0.6996, with a volume of 735,310 shares.

Wall Street Analysts Forecast Growth

GIFT has been the subject of a number of recent research reports. Zacks Research raised shares of Giftify to a “hold” rating in a report on Thursday, August 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Giftify in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Giftify currently has an average rating of “Reduce”.

Giftify Price Performance

The company has a fifty day simple moving average of $0.66 and a two-hundred day simple moving average of $0.89. The stock has a market capitalization of $23.74 million, a price-to-earnings ratio of -2.46 and a beta of -1.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.58 and a current ratio of 1.02.

Giftify (NASDAQ:GIFT) last released its earnings results on Monday, August 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company had revenue of $21.75 million for the quarter, compared to analyst estimates of $20.20 million. Giftify had a negative return on equity of 39.87% and a negative net margin of 10.32%. As a group, equities research analysts expect that Giftify, Inc. will post -0.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Giftify

A hedge fund recently bought a new stake in Giftify stock. BlackRock Inc. acquired a new stake in Giftify, Inc. (NASDAQ:GIFT) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 86,196 shares of the company’s stock, valued at approximately $82,000. BlackRock Inc. owned approximately 0.24% of Giftify as of its most recent SEC filing.

Giftify Company Profile

Giftify, Inc (NASDAQ:GIFT) is a technology company that provides digital gift card, loyalty and customer-engagement solutions for shopping centers and retail destinations. Its platform is designed to help malls and other commercial properties issue and manage gift cards while encouraging visits and spending across participating retailers.

Giftify’s services include branded digital gift cards, rewards programs, promotional campaigns and tools that enable retailers and property owners to engage shoppers.