Gambling.com Group (NASDAQ:GAMB) Price Target Cut to $12.00 by Analysts at BTIG Research

Key Points

• BTIG Research has cut its price target for Gambling.com Group from $19.00 to $12.00, while maintaining a "buy" rating, suggesting a potential upside of 15.61% from the current price.
• Other analysts have also lowered their target prices, with Truist Financial dropping theirs from $17.00 to $11.00, and Jefferies Financial Group reducing theirs from $20.00 to $18.00, indicating a cautious outlook on the stock.
• Gambling.com Group recently reported strong earnings with $0.37 earnings per share, exceeding the consensus estimate of $0.12 and generating revenue of $39.59 million for the quarter.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) had its target price decreased by stock analysts at BTIG Research from $19.00 to $12.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price would suggest a potential upside of 15.61% from the stock's current price.

A number of other research analysts have also issued reports on the stock. Truist Financial lowered shares of Gambling.com Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $17.00 to $11.00 in a research note on Friday. Jefferies Financial Group cut their price objective on Gambling.com Group from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, July 3rd. Stifel Nicolaus dropped their price target on Gambling.com Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday. Finally, Wall Street Zen upgraded shares of Gambling.com Group from a "hold" rating to a "buy" rating in a report on Friday, May 30th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

Gambling.com Group Stock Down 4.0%

GAMB stock opened at $10.38 on Friday. The firm has a market cap of $360.81 million, a price-to-earnings ratio of 10.70 and a beta of 0.91. Gambling.com Group has a 1-year low of $9.22 and a 1-year high of $17.14. The firm has a fifty day moving average price of $11.34 and a two-hundred day moving average price of $12.58. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.06 and a quick ratio of 1.06.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.25. Gambling.com Group had a return on equity of 34.63% and a net margin of 24.97%. The firm had revenue of $39.59 million for the quarter, compared to analyst estimates of $38.93 million. Research analysts predict that Gambling.com Group will post 0.88 EPS for the current year.

Institutional Investors Weigh In On Gambling.com Group

A number of institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. grew its position in shares of Gambling.com Group by 21,963.6% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,427 shares of the company's stock worth $29,000 after buying an additional 2,416 shares during the period. Russell Investments Group Ltd. grew its stake in Gambling.com Group by 1,968.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,420 shares of the company's stock valued at $34,000 after acquiring an additional 2,303 shares during the period. Simplex Trading LLC increased its holdings in shares of Gambling.com Group by 191.0% in the first quarter. Simplex Trading LLC now owns 3,899 shares of the company's stock worth $49,000 after acquiring an additional 2,559 shares in the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of Gambling.com Group during the second quarter worth about $119,000. Finally, Quarry LP acquired a new position in shares of Gambling.com Group in the 4th quarter valued at approximately $128,000. 72.26% of the stock is owned by institutional investors and hedge funds.

About Gambling.com Group

Gambling.com Group Limited operates as a performance marketing company for the online gambling industry worldwide. It provides digital marketing services for the iGaming and social casino products. The company's focus is on online casino, online sports betting, and fantasy sports industry. It publishes various branded websites, including Gambling.com, Casinos.com, RotoWire.com, and Bookies.com.

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