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

Gambling.com Group Limited (NASDAQ:GAMB)’s stock price gapped up prior to trading 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, topping analysts’ consensus estimates of $0.25 by $0.10. Gambling.com Group had a return on equity of 25.06% and a net margin of 23.40%. The business had revenue of $35.30 million during the quarter, compared to analysts’ expectations of $35.20 million. Gambling.com Group’s revenue was up 8.6% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GAMB shares. Jefferies Financial Group raised their price target on shares of Gambling.com Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Craig Hallum raised their price target on shares of Gambling.com Group from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Macquarie raised their price target on shares of Gambling.com Group from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday. BTIG Research raised their price target on shares of Gambling.com Group from $13.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $18.00 price target on shares of Gambling.com Group in a research note on Thursday, February 20th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $17.56.

Hedge Funds Weigh In On Gambling.com Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC grew its stake in shares of Gambling.com Group by 94.0% in the third quarter. Barclays PLC now owns 38,494 shares of the company’s stock valued at $385,000 after buying an additional 18,656 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Gambling.com Group during the 4th quarter valued at $2,280,000. Gagnon Securities LLC acquired a new stake in Gambling.com Group during the 4th quarter valued at $317,000. M&T Bank Corp acquired a new stake in Gambling.com Group during the 4th quarter valued at $195,000. Finally, IFP Advisors Inc acquired a new stake in Gambling.com Group during the 4th quarter valued at $49,000. 72.26% of the stock is owned by institutional investors.

Gambling.com Group Stock Down 1.0 %

The firm has a fifty day simple moving average of $14.20 and a 200-day simple moving average of $12.54. The firm has a market cap of $491.34 million, a price-to-earnings ratio of 16.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.03 and a current ratio of 1.03.

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.