Giftify (NASDAQ:GIFT) Shares Break Above 50 Day Moving Average – Here’s Why

Shares of Giftify, Inc. (NASDAQ:GIFT) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $0.61 and traded as high as $0.69. Giftify shares last traded at $0.6557, with a volume of 49,740 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Giftify in a research note on Friday, October 2nd. Zacks Research upgraded shares of Giftify to a “hold” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Giftify Stock Performance

The firm’s 50 day simple moving average is $0.61 and its 200-day simple moving average is $0.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.61 and a current ratio of 1.09. The company has a market capitalization of $23.47 million, a price-to-earnings ratio of -2.85 and a beta of -1.51.

Giftify (NASDAQ:GIFT) last released its earnings results on Tuesday, November 3rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Giftify had a negative net margin of 8.82% and a negative return on equity of 35.58%. The business had revenue of $22.32 million during the quarter, compared to analysts’ expectations of $22.00 million. Analysts expect that Giftify, Inc. will post -0.20 EPS for the current year.

Institutional Investors Weigh In On Giftify

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

Giftify Company Profile

Giftify, Inc. is a technology company focused on digital gift cards, dining offers and cashback services. Its platforms connect consumers with discounts and gift-card options from participating merchants. The company’s portfolio includes Restaurant.com, which offers deals and gift certificates for restaurants and other local businesses, and CardCash, a marketplace for buying and selling gift cards. Giftify also provides a cashback and rewards platform for consumers and participating merchants. Giftify was formerly known as Restaurant.com, Inc. Its businesses primarily serve consumers and merchants in the United States; the company also has a presence in Europe through its Giftify platform.