Brokerages Expect GAN Limited (NASDAQ:GAN) Will Announce Quarterly Sales of $38.16 Million

Equities analysts expect GAN Limited (NASDAQ:GAN – Get Rating) to report sales of $38.16 million for the current quarter, Zacks reports. Three analysts have issued estimates for GAN’s earnings, with the lowest sales estimate coming in at $36.80 million and the highest estimate coming in at $39.50 million. GAN reported sales of $34.63 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.2%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that GAN will report full-year sales of $157.09 million for the current fiscal year, with estimates ranging from $155.26 million to $160.00 million. For the next year, analysts forecast that the business will report sales of $208.78 million, with estimates ranging from $199.35 million to $225.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for GAN.

GAN (NASDAQ:GAN – Get Rating) last issued its earnings results on Tuesday, March 22nd. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.07). GAN had a negative return on equity of 9.82% and a negative net margin of 18.88%. The firm had revenue of $30.50 million during the quarter, compared to the consensus estimate of $35.26 million. During the same quarter in the prior year, the business posted ($0.27) EPS. The firm’s revenue for the quarter was up 242.7% on a year-over-year basis.

Several brokerages have commented on GAN. Zacks Investment Research lowered GAN from a “hold” rating to a “sell” rating in a research report on Thursday, March 24th. Craig Hallum lowered their price objective on GAN to $6.00 and set a “na” rating for the company in a research report on Tuesday. Northland Securities lowered GAN from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 23rd. Finally, B. Riley lowered their price objective on GAN from $26.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, March 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of GAN. Wellington Management Group LLP grew its position in GAN by 36.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,010,591 shares of the company’s stock valued at $29,898,000 after acquiring an additional 539,016 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of GAN by 692.1% in the first quarter. Renaissance Technologies LLC now owns 594,915 shares of the company’s stock worth $2,867,000 after purchasing an additional 519,808 shares during the last quarter. BlackRock Inc. raised its stake in shares of GAN by 20.9% in the third quarter. BlackRock Inc. now owns 2,728,582 shares of the company’s stock worth $40,574,000 after purchasing an additional 471,971 shares during the last quarter. State Street Corp raised its stake in shares of GAN by 58.3% in the fourth quarter. State Street Corp now owns 1,160,821 shares of the company’s stock worth $10,668,000 after purchasing an additional 427,615 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of GAN by 62.2% in the third quarter. Geode Capital Management LLC now owns 741,072 shares of the company’s stock worth $11,019,000 after purchasing an additional 284,252 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors.

Shares of GAN stock opened at $3.41 on Thursday. The stock has a fifty day moving average of $4.43 and a 200 day moving average of $7.28. GAN has a 52 week low of $3.06 and a 52 week high of $18.48. The firm has a market capitalization of $144.08 million, a price-to-earnings ratio of -5.98 and a beta of 1.40.

About GAN (Get Rating)

GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. The company operates in two segments, B2B and Business-to-Consumer (B2C).

Featured Articles