Truist Financial Cuts Gambling.com Group (NASDAQ:GAMB) Price Target to $9.00

Key Points

• Truist Financial has reduced its price target on Gambling.com Group from $11.00 to $9.00, maintaining a "hold" rating for the stock, which suggests a potential upside of 15.90% based on the previous close.
• Multiple analysts have adjusted their ratings on GAMB, with Jefferies and Stifel Nicolaus also cutting their price targets while still showing a "buy" rating, reflecting a mixed sentiment among analysts.
• Despite the price target cuts, Gambling.com Group recently reported earnings of $0.37 per share, exceeding expectations and suggesting ongoing financial viability in a competitive market.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) had its price target cut by stock analysts at Truist Financial from $11.00 to $9.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "hold" rating on the stock. Truist Financial's price target suggests a potential upside of 15.90% from the stock's previous close.

Several other equities analysts have also issued reports on GAMB. Jefferies Financial Group cut their price objective on shares of Gambling.com Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Zacks Research lowered shares of Gambling.com Group from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Stifel Nicolaus cut their price target on shares of Gambling.com Group from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Weiss Ratings raised shares of Gambling.com Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Gambling.com Group from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Seven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.75.

Gambling.com Group Trading Up 0.8%

Shares of Gambling.com Group stock traded up $0.07 on Tuesday, hitting $7.77. 200,892 shares of the company traded hands, compared to its average volume of 498,229. The company has a market cap of $277.31 million, a PE ratio of 19.41 and a beta of 0.87. The stock's 50 day moving average price is $8.34 and its 200-day moving average price is $10.66. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.57. Gambling.com Group has a 52 week low of $7.36 and a 52 week high of $17.14.

Gambling.com Group (NASDAQ:GAMB - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.25. The company had revenue of $39.59 million for the quarter, compared to analyst estimates of $38.93 million. Gambling.com Group had a net margin of 9.66% and a return on equity of 38.04%. Gambling.com Group has set its FY 2025 guidance at EPS. Equities research analysts predict that Gambling.com Group will post 0.88 EPS for the current year.

Institutional Investors Weigh In On Gambling.com Group

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC boosted its stake in shares of Gambling.com Group by 185.5% during the 1st quarter. Cubist Systematic Strategies LLC now owns 193,686 shares of the company's stock worth $2,444,000 after acquiring an additional 125,834 shares in the last quarter. Diversified Investment Strategies LLC boosted its stake in shares of Gambling.com Group by 52.8% during the 2nd quarter. Diversified Investment Strategies LLC now owns 275,000 shares of the company's stock worth $3,270,000 after acquiring an additional 95,000 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Gambling.com Group during the 1st quarter worth about $1,249,000. Steamboat Capital Partners LLC boosted its stake in shares of Gambling.com Group by 47.6% during the 1st quarter. Steamboat Capital Partners LLC now owns 147,422 shares of the company's stock worth $1,860,000 after acquiring an additional 47,517 shares in the last quarter. Finally, Acadian Asset Management LLC raised its position in shares of Gambling.com Group by 26.1% during the 1st quarter. Acadian Asset Management LLC now owns 394,841 shares of the company's stock worth $4,974,000 after purchasing an additional 81,836 shares during the last quarter. 72.26% of the stock is owned by hedge funds and other institutional investors.

Gambling.com Group Company Profile

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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