Gambling.com Group (NASDAQ:GAMB) Shares Gap Up After Earnings Beat

Gambling.com Group Limited (NASDAQ:GAMB) gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $12.48, but opened at $13.01. Gambling.com Group shares last traded at $13.68, with a volume of 245,388 shares.

The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. The firm had revenue of $35.30 million for the quarter, compared to analysts’ expectations of $35.20 million. Gambling.com Group had a return on equity of 25.06% and a net margin of 23.40%. The business’s quarterly revenue was up 8.6% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms recently commented on GAMB. Cantor Fitzgerald began coverage on Gambling.com Group in a research note on Wednesday, March 5th. They issued an “overweight” rating and a $20.00 price objective on the stock. Craig Hallum lifted their price objective on Gambling.com Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Gambling.com Group in a research note on Thursday, February 20th. Jefferies Financial Group lifted their price objective on Gambling.com Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, BTIG Research lifted their price objective on Gambling.com Group from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $17.56.

Institutional Investors Weigh In On Gambling.com Group

Large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its holdings in Gambling.com Group by 94.0% in the 3rd quarter. Barclays PLC now owns 38,494 shares of the company’s stock worth $385,000 after acquiring an additional 18,656 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Gambling.com Group in the 4th quarter worth about $2,280,000. Gagnon Securities LLC purchased a new stake in Gambling.com Group in the 4th quarter worth about $317,000. M&T Bank Corp purchased a new stake in Gambling.com Group in the 4th quarter worth about $195,000. Finally, IFP Advisors Inc purchased a new stake in Gambling.com Group in the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 72.26% of the company’s stock.

Gambling.com Group Trading Down 1.0 %

The firm has a fifty day moving average of $14.20 and a two-hundred day moving average of $12.54. The company has a market cap of $491.34 million, a PE ratio of 16.92 and a beta of 0.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.20.

Gambling.com Group Company Profile

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.