Gambling.com Group (NASDAQ:GAMB) Shares Gap Up on Better-Than-Expected Earnings

Gambling.com Group Limited (NASDAQ:GAMB)’s stock price gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 trading hands.

The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $35.20 million. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Gambling.com Group from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, January 15th. Cantor Fitzgerald initiated coverage on shares of Gambling.com Group in a report on Wednesday, March 5th. They issued an “overweight” rating and a $20.00 target price for the company. BTIG Research boosted their target price on shares of Gambling.com Group from $13.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Craig Hallum upped their price objective on shares of Gambling.com Group from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Benchmark restated a “buy” rating and set a $18.00 price objective on shares of Gambling.com Group in a report on Thursday, February 20th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $17.22.

Hedge Funds Weigh In On Gambling.com Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. MetLife Investment Management LLC boosted its position in Gambling.com Group by 111.2% in the 3rd quarter. MetLife Investment Management LLC now owns 12,384 shares of the company’s stock worth $124,000 after purchasing an additional 6,519 shares in the last quarter. State Street Corp lifted its holdings in Gambling.com Group by 4.2% in the 3rd quarter. State Street Corp now owns 194,120 shares of the company’s stock valued at $1,945,000 after purchasing an additional 7,806 shares in the last quarter. Barclays PLC lifted 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 valued at $385,000 after purchasing an additional 18,656 shares in the last quarter. SG Americas Securities LLC purchased a new position in Gambling.com Group in the 4th quarter valued at $163,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Gambling.com Group by 2.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 49,799 shares of the company’s stock worth $701,000 after acquiring an additional 1,325 shares during the last quarter. Institutional investors and hedge funds own 72.26% of the company’s stock.

Gambling.com Group Stock Up 6.8 %

The firm has a market capitalization of $496.18 million, a price-to-earnings ratio of 17.09 and a beta of 0.99. The business has a 50 day simple moving average of $14.21 and a 200-day simple moving average of $12.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.03 and a current ratio of 1.03.

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.