Macquarie Forecasts Strong Price Appreciation for Gambling.com Group (NASDAQ:GAMB) Stock

Gambling.com Group (NASDAQ:GAMB) had its price objective hoisted by research analysts at Macquarie from $18.00 to $19.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Macquarie’s price target points to a potential upside of 43.94% from the stock’s current price.

Several other research firms also recently commented on GAMB. Cantor Fitzgerald started coverage on shares of Gambling.com Group in a research note on Wednesday, March 5th. They set an “overweight” rating and a $20.00 price objective for the company. Benchmark reiterated a “buy” rating and set 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 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. BTIG Research lifted their price objective 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, Craig Hallum lifted their price objective 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. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.56.

Gambling.com Group Price Performance

NASDAQ GAMB opened at $13.20 on Friday. The firm’s fifty day simple moving average is $14.20 and its two-hundred day simple moving average is $12.55. 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 has a 12-month low of $7.52 and a 12-month high of $17.14. The firm has a market capitalization of $491.34 million, a P/E ratio of 16.92 and a beta of 0.99.

Gambling.com Group (NASDAQ:GAMB) last posted its quarterly earnings data on Thursday, March 20th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.25 by $0.10. Gambling.com Group had a net margin of 23.40% and a return on equity of 25.06%. The business had revenue of $35.30 million during the quarter, compared to the consensus estimate of $35.20 million. The firm’s revenue was up 8.6% compared to the same quarter last year. Analysts forecast that Gambling.com Group will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio acquired a new position in Gambling.com Group during the fourth quarter valued at $197,000. AWM Investment Company Inc. raised its position in shares of Gambling.com Group by 9.8% in the fourth quarter. AWM Investment Company Inc. now owns 1,517,259 shares of the company’s stock worth $21,363,000 after acquiring an additional 135,000 shares during the period. PharVision Advisers LLC acquired a new position in shares of Gambling.com Group in the fourth quarter worth about $544,000. Squarepoint Ops LLC raised its position in shares of Gambling.com Group by 95.5% in the fourth quarter. Squarepoint Ops LLC now owns 23,562 shares of the company’s stock worth $332,000 after acquiring an additional 11,508 shares during the period. Finally, State of Wyoming raised its position in shares of Gambling.com Group by 134.6% in the fourth quarter. State of Wyoming now owns 25,616 shares of the company’s stock worth $361,000 after acquiring an additional 14,697 shares during the period. 72.26% of the stock is currently owned by institutional investors and hedge funds.

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.