Not exactly. In most cases, you can give a title using one of your credits. Or you can give a gift membership, and they'll get one credit each month. If they're already a member, they'll receive all credits from the gift membership at once and their membership will not be extended or interrupted.
You can check the claim status of any gift sent in the Gift History section of your Account Details. If your recipient does not redeem their gift right away, Audible will send up to 3 redemption reminder emails.