Truist Financial Lowers Gambling.com Group (NASDAQ:GAMB) Price Target to $3.00

Gambling.com Group (NASDAQ:GAMB) had its price target lowered by research analysts at Truist Financial from $5.00 to $3.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 62.16% from the stock’s current price.

Several other equities analysts have also recently commented on GAMB. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gambling.com Group in a report on Wednesday, June 17th. Wall Street Zen raised Gambling.com Group from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Benchmark restated a “speculative buy” rating and set a $4.00 price objective (down from $6.00) on shares of Gambling.com Group in a research report on Friday, May 15th. Zacks Research lowered Gambling.com Group from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Finally, Stifel Nicolaus reduced their target price on Gambling.com Group from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Gambling.com Group currently has a consensus rating of “Hold” and an average price target of $7.12.

Gambling.com Group Price Performance

NASDAQ:GAMB opened at $1.85 on Monday. The stock has a market cap of $64.94 million, a P/E ratio of -1.43 and a beta of 0.73. Gambling.com Group has a one year low of $1.73 and a one year high of $11.34. The company has a fifty day moving average price of $2.29 and a 200 day moving average price of $3.60. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.31 and a quick ratio of 1.31.

Gambling.com Group (NASDAQ:GAMB) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.06). Gambling.com Group had a negative net margin of 27.44% and a positive return on equity of 27.61%. The company had revenue of $40.44 million for the quarter, compared to analyst estimates of $40.21 million. Analysts anticipate that Gambling.com Group will post 0.14 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its stake in shares of Gambling.com Group by 653.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,254 shares of the company’s stock valued at $62,000 after purchasing an additional 4,557 shares during the period. SG Americas Securities LLC bought a new position in shares of Gambling.com Group during the 4th quarter worth approximately $65,000. Deutsche Bank AG lifted its position in shares of Gambling.com Group by 3,262.2% during the 4th quarter. Deutsche Bank AG now owns 12,978 shares of the company’s stock worth $71,000 after buying an additional 12,592 shares during the period. HRT Financial LP acquired a new stake in Gambling.com Group in the 4th quarter valued at $88,000. Finally, Royal Bank of Canada grew its position in Gambling.com Group by 827.6% in the first quarter. Royal Bank of Canada now owns 25,185 shares of the company’s stock valued at $98,000 after acquiring an additional 22,470 shares during the period. Institutional investors own 72.26% of the company’s stock.

Gambling.com Group Company Profile

Gambling.com Group is a digital performance marketing company specializing in the online gambling industry. Through a diversified portfolio of affiliate websites, the company generates leads and traffic for operators in segments such as sports betting, online casino, poker, bingo and daily fantasy sports. Its platforms offer in-depth reviews, expert guides, comparison tools and editorial content designed to help players make informed choices and drive conversions for partner brands.

The group’s service offerings include search engine optimization, pay-per-click campaigns, display advertising, email marketing and social media management.