Truist Financial Cuts Gambling.com Group (NASDAQ:GAMB) Price Target to $7.00

Gambling.com Group (NASDAQ:GAMB) had its price target dropped by investment analysts at Truist Financial from $9.00 to $7.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price objective points to a potential upside of 36.99% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group reduced their price objective on Gambling.com Group from $18.00 to $15.00 and set a “buy” rating for the company in a report on Friday, August 15th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $12.00 price objective (down previously from $15.00) on shares of Gambling.com Group in a research report on Friday. Zacks Research lowered shares of Gambling.com Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. Wall Street Zen downgraded Gambling.com Group from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Weiss Ratings cut Gambling.com Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.00.

Gambling.com Group Stock Down 2.7%

Shares of Gambling.com Group stock traded down $0.14 during trading hours on Friday, hitting $5.11. 1,512,516 shares of the company’s stock traded hands, compared to its average volume of 547,384. The company has a market cap of $182.49 million, a PE ratio of 12.76 and a beta of 0.85. The stock has a 50 day simple moving average of $7.69 and a 200-day simple moving average of $10.05. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.57. Gambling.com Group has a twelve month low of $4.79 and a twelve month high of $17.14.

Gambling.com Group (NASDAQ:GAMB) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.07. The company had revenue of $38.98 million during the quarter, compared to the consensus estimate of $41.06 million. Gambling.com Group had a return on equity of 38.04% and a net margin of 9.66%. Gambling.com Group has set its FY 2025 guidance at EPS. Equities research analysts anticipate that Gambling.com Group will post 0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. G2 Investment Partners Management LLC boosted its holdings in shares of Gambling.com Group by 70.9% during the 2nd quarter. G2 Investment Partners Management LLC now owns 1,802,443 shares of the company’s stock worth $21,431,000 after buying an additional 747,559 shares during the period. Boothbay Fund Management LLC lifted its holdings in shares of Gambling.com Group by 225.2% in the 2nd quarter. Boothbay Fund Management LLC now owns 669,989 shares of the company’s stock worth $7,966,000 after purchasing an additional 463,993 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in Gambling.com Group during the 2nd quarter valued at $3,635,000. Driehaus Capital Management LLC grew its position in Gambling.com Group by 47.4% during the first quarter. Driehaus Capital Management LLC now owns 750,454 shares of the company’s stock valued at $9,471,000 after buying an additional 241,386 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Gambling.com Group by 362.2% during the second quarter. American Century Companies Inc. now owns 193,669 shares of the company’s stock worth $2,303,000 after acquiring an additional 151,767 shares in the last quarter. 72.26% of the stock is currently 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.