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

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

Several other analysts have also recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and set a $18.00 price objective on shares of Gambling.com Group in a research note on Thursday, February 20th. Cantor Fitzgerald initiated 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. Jefferies Financial Group upped 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 note on Wednesday, January 15th. 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 research note on Friday, December 13th. Finally, BTIG Research upped their price objective on shares of Gambling.com Group from $13.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $17.56.

Gambling.com Group Stock Down 1.0 %

GAMB stock opened at $13.20 on Friday. The stock has a market capitalization of $491.34 million, a P/E ratio of 16.92 and a beta of 0.99. The firm has a 50-day simple moving average of $14.20 and a 200-day simple moving average of $12.55. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.20. Gambling.com Group has a 52 week low of $7.52 and a 52 week high of $17.14.

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

Hedge Funds Weigh In On Gambling.com Group

Several institutional investors and hedge funds have recently bought and sold shares of GAMB. Global Retirement Partners LLC boosted its holdings in Gambling.com Group by 1,613.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,971 shares of the company’s stock valued at $28,000 after purchasing an additional 1,856 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Gambling.com Group by 1,968.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,420 shares of the company’s stock worth $34,000 after acquiring an additional 2,303 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in Gambling.com Group by 481.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,461 shares of the company’s stock worth $35,000 after buying an additional 2,038 shares in the last quarter. IFP Advisors Inc acquired a new stake in Gambling.com Group during the 4th quarter worth approximately $49,000. Finally, MetLife Investment Management LLC lifted its holdings in Gambling.com Group by 111.2% during the 3rd quarter. MetLife Investment Management LLC now owns 12,384 shares of the company’s stock worth $124,000 after buying an additional 6,519 shares in the last quarter. 72.26% of the stock is currently owned by institutional investors and hedge funds.

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.