Truist Financial Cuts Gambling.com Group (NASDAQ:GAMB) Price Target to $3.00

Gambling.com Group (NASDAQ:GAMB) had its price objective cut by stock analysts at Truist Financial from $5.00 to $3.00 in a report released on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would suggest a potential upside of 68.07% from the stock’s previous close.

GAMB has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Gambling.com Group in a report on Wednesday, June 17th. Stifel Nicolaus reduced their price objective on Gambling.com Group from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Zacks Research downgraded Gambling.com Group from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Benchmark reissued a “speculative buy” rating and issued a $4.00 target price (down from $6.00) on shares of Gambling.com Group in a research report on Friday, May 15th. Finally, Wall Street Zen raised Gambling.com Group from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.12.

Gambling.com Group Stock Down 0.8%

Shares of NASDAQ GAMB traded down $0.01 during mid-day trading on Monday, reaching $1.78. 92,267 shares of the company’s stock were exchanged, compared to its average volume of 709,224. Gambling.com Group has a twelve month low of $1.73 and a twelve month high of $11.35. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $62.65 million, a price-to-earnings ratio of -1.38 and a beta of 0.73. The business has a fifty day simple moving average of $2.39 and a 200 day simple moving average of $3.65.

Gambling.com Group (NASDAQ:GAMB) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.06). Gambling.com Group had a negative net margin of 27.44% and a positive return on equity of 27.61%. The business had revenue of $40.44 million during the quarter, compared to analyst estimates of $40.21 million. As a group, equities analysts expect that Gambling.com Group will post 0.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Gambling.com Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Gambling.com Group by 653.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,254 shares of the company’s stock worth $62,000 after buying an additional 4,557 shares during the period. SG Americas Securities LLC bought a new stake in shares of Gambling.com Group during the fourth quarter worth approximately $65,000. Deutsche Bank AG boosted its holdings in shares of Gambling.com Group by 3,262.2% during the fourth quarter. Deutsche Bank AG now owns 12,978 shares of the company’s stock worth $71,000 after acquiring an additional 12,592 shares during the period. HRT Financial LP acquired a new position in shares of Gambling.com Group in the fourth quarter valued at approximately $88,000. Finally, Royal Bank of Canada grew its position in shares of Gambling.com Group by 827.6% in the first quarter. Royal Bank of Canada now owns 25,185 shares of the company’s stock valued at $98,000 after purchasing an additional 22,470 shares during the last quarter. 72.26% of the stock is currently owned by institutional investors and hedge funds.

About Gambling.com Group

Gambling.com Group is a digital performance marketing company specializing in the online gambling industry. Through a diversified portfolio of affiliate websites, the company generates leads and traffic for operators in segments such as sports betting, online casino, poker, bingo and daily fantasy sports. Its platforms offer in-depth reviews, expert guides, comparison tools and editorial content designed to help players make informed choices and drive conversions for partner brands.

The group’s service offerings include search engine optimization, pay-per-click campaigns, display advertising, email marketing and social media management.