Stifel Nicolaus Has Lowered Expectations for Gambling.com Group (NASDAQ:GAMB) Stock Price

Gambling.com Group (NASDAQ:GAMB) had its target price reduced by equities research analysts at Stifel Nicolaus from $18.00 to $15.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 74.22% from the company’s previous close.

GAMB has been the topic of a number of other reports. Wall Street Zen raised Gambling.com Group from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Truist Financial downgraded Gambling.com Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $17.00 to $11.00 in a report on Friday. Finally, Jefferies Financial Group cut their price objective on Gambling.com Group from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, July 3rd. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Gambling.com Group Stock Down 17.1%

Shares of NASDAQ:GAMB opened at $8.61 on Friday. The stock’s 50-day moving average price is $11.27 and its two-hundred day moving average price is $12.53. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.55. Gambling.com Group has a 12-month low of $8.50 and a 12-month high of $17.14. The firm has a market cap of $299.28 million, a price-to-earnings ratio of 21.53 and a beta of 0.91.

Gambling.com Group (NASDAQ:GAMB) last issued its quarterly earnings results on Thursday, August 14th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.25. Gambling.com Group had a return on equity of 38.59% and a net margin of 9.66%. The firm had revenue of $39.59 million for the quarter, compared to analyst estimates of $38.93 million. On average, research analysts forecast that Gambling.com Group will post 0.88 EPS for the current year.

Institutional Investors Weigh In On Gambling.com Group

Hedge funds have recently modified their holdings of the stock. Jane Street Group LLC raised its holdings in shares of Gambling.com Group by 119.4% during the 4th quarter. Jane Street Group LLC now owns 41,291 shares of the company’s stock valued at $581,000 after buying an additional 22,471 shares during the period. LPL Financial LLC grew its stake in Gambling.com Group by 8.7% during the 4th quarter. LPL Financial LLC now owns 28,549 shares of the company’s stock valued at $402,000 after purchasing an additional 2,275 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Gambling.com Group during the 4th quarter valued at approximately $1,337,000. Dimensional Fund Advisors LP grew its stake in Gambling.com Group by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 503,426 shares of the company’s stock valued at $7,089,000 after purchasing an additional 56,268 shares in the last quarter. Finally, Bastion Asset Management Inc. acquired a new stake in Gambling.com Group during the 1st quarter valued at approximately $833,000. 72.26% of the stock is currently owned by hedge funds and other 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.