Truist Financial Has Lowered Expectations for Gambling.com Group (NASDAQ:GAMB) Stock Price

Gambling.com Group (NASDAQ:GAMB) had its price objective lowered by Truist Financial from $11.00 to $9.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s price target points to a potential upside of 17.49% from the company’s previous close.

Several other equities research analysts have also issued reports on GAMB. Zacks Research lowered shares of Gambling.com Group from a “strong-buy” rating to a “hold” rating in a report on Monday, September 1st. BTIG Research reduced their price objective on shares of Gambling.com Group from $19.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, August 15th. Wall Street Zen lowered Gambling.com Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 16th. Weiss Ratings upgraded Gambling.com Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Jefferies Financial Group decreased their price target on Gambling.com Group from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 15th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Gambling.com Group has a consensus rating of “Moderate Buy” and an average price target of $15.75.

Gambling.com Group Price Performance

NASDAQ:GAMB opened at $7.66 on Tuesday. The firm has a market capitalization of $273.54 million, a price-to-earnings ratio of 19.15 and a beta of 0.87. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.59 and a quick ratio of 0.59. The business has a 50 day simple moving average of $8.22 and a 200-day simple moving average of $10.62. Gambling.com Group has a 1 year low of $7.36 and a 1 year high of $17.14.

Gambling.com Group (NASDAQ:GAMB) last released its earnings results on Thursday, August 14th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.25. The firm had revenue of $39.59 million for the quarter, compared to the consensus estimate of $38.93 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 analysts forecast that Gambling.com Group will post 0.88 EPS for the current year.

Hedge Funds Weigh In On Gambling.com Group

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

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.