Research Analysts Set Expectations for GAN Limited’s Q2 2022 Earnings (NASDAQ:GAN)

GAN Limited (NASDAQ:GANGet Rating) – Jefferies Financial Group decreased their Q2 2022 EPS estimates for shares of GAN in a research note issued to investors on Tuesday, May 17th. Jefferies Financial Group analyst D. Katz now forecasts that the company will earn ($0.09) per share for the quarter, down from their previous estimate of ($0.08). Jefferies Financial Group also issued estimates for GAN’s Q4 2022 earnings at ($0.04) EPS, FY2022 earnings at ($0.28) EPS and FY2023 earnings at ($0.09) EPS.

Other research analysts have also recently issued reports about the stock. Craig Hallum decreased their price objective on shares of GAN to $6.00 and set a “na” rating for the company in a report on Tuesday. Zacks Investment Research downgraded GAN from a “hold” rating to a “sell” rating in a research note on Thursday, March 24th. Northland Securities cut GAN from an “outperform” rating to a “market perform” rating in a report on Wednesday, March 23rd. Finally, B. Riley decreased their price objective on GAN from $26.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, March 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.00.

Shares of GAN stock opened at $3.41 on Thursday. The company’s 50-day moving average is $4.43 and its 200 day moving average is $7.28. GAN has a one year low of $3.06 and a one year high of $18.48.

GAN (NASDAQ:GANGet Rating) last released its earnings results on Tuesday, March 22nd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.07). GAN had a negative net margin of 17.56% and a negative return on equity of 9.60%. The firm had revenue of $30.50 million during the quarter, compared to analysts’ expectations of $35.26 million. During the same quarter in the previous year, the business earned ($0.27) EPS. The company’s revenue for the quarter was up 242.7% compared to the same quarter last year.

Several large investors have recently modified their holdings of GAN. Wellington Management Group LLP raised its stake 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 purchasing an additional 539,016 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of GAN by 692.1% during the first quarter. Renaissance Technologies LLC now owns 594,915 shares of the company’s stock valued at $2,867,000 after buying an additional 519,808 shares in the last quarter. BlackRock Inc. raised its holdings in shares of GAN by 20.9% during the third quarter. BlackRock Inc. now owns 2,728,582 shares of the company’s stock worth $40,574,000 after acquiring an additional 471,971 shares in the last quarter. State Street Corp increased its stake in shares of GAN by 58.3% during the 4th 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 boosted its stake in shares of GAN by 62.2% during the 3rd quarter. Geode Capital Management LLC now owns 741,072 shares of the company’s stock worth $11,019,000 after acquiring an additional 284,252 shares in the last quarter. Institutional investors and hedge funds own 49.54% of the company’s stock.

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).

Further Reading

Earnings History and Estimates for GAN (NASDAQ:GAN)

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