Giftify (NASDAQ:GIFT) Trading Down 2.8% – Here’s What Happened

Giftify, Inc. (NASDAQ:GIFT) fell 2.8% during trading on Tuesday . The company traded as low as $1.03 and last traded at $1.03. 25,600 shares were traded during trading, a decline of 11% from the average session volume of 28,656 shares. The stock had previously closed at $1.06.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Giftify in a research report on Tuesday, October 14th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.00.

Giftify Price Performance

The company’s 50 day moving average price is $1.08 and its 200-day moving average price is $1.11. The company has a market cap of $31.89 million, a price-to-earnings ratio of -2.45 and a beta of -2.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.50 and a current ratio of 0.82.

Giftify (NASDAQ:GIFT) last released its earnings results on Monday, November 10th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The business had revenue of $18.78 million for the quarter, compared to analyst estimates of $23.40 million. Giftify had a negative net margin of 14.02% and a negative return on equity of 56.95%.

Hedge Funds Weigh In On Giftify

A number of hedge funds have recently modified their holdings of GIFT. Henrickson Nauta Wealth Advisors Inc. acquired a new position in shares of Giftify in the 3rd quarter valued at $160,000. Blair William & Co. IL raised its holdings in Giftify by 280.0% during the 3rd quarter. Blair William & Co. IL now owns 95,000 shares of the company’s stock worth $101,000 after buying an additional 70,000 shares during the period. Finally, Susquehanna International Group LLP lifted its stake in Giftify by 62.1% during the third quarter. Susquehanna International Group LLP now owns 45,007 shares of the company’s stock valued at $48,000 after buying an additional 17,234 shares in the last quarter.

About Giftify

Giftify, Inc (NASDAQ: GIFT) is a US-based technology company specializing in digital gift solutions for businesses across retail, hospitality and corporate sectors. The company’s cloud-based platform enables brands and organizations to create, distribute and redeem e-gift cards and e-vouchers through multiple channels, including email, SMS and API integrations. By offering a turnkey solution for branded gifting campaigns, Giftify helps clients drive consumer acquisition, retention and incremental revenue.

Central to Giftify’s offering is a suite of management tools that enable real-time tracking of gift card inventory, performance analytics and customer engagement metrics.