Gambling.com Group (NASDAQ:GAMB) Shares Gap Up Following Strong Earnings

Gambling.com Group Limited (NASDAQ:GAMB) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. 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 EPS for the quarter, beating 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 company had revenue of $35.30 million during the quarter, compared to the consensus estimate of $35.20 million. The company’s revenue for the quarter was up 8.6% on a year-over-year basis.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Northern Trust Corp increased its stake in Gambling.com Group by 0.9% in the fourth quarter. Northern Trust Corp now owns 109,928 shares of the company’s stock valued at $1,548,000 after purchasing an additional 1,003 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in Gambling.com Group by 2.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 49,799 shares of the company’s stock valued at $701,000 after buying an additional 1,325 shares during the period. Global Retirement Partners LLC increased its stake in shares of Gambling.com Group by 1,613.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,971 shares of the company’s stock valued at $28,000 after acquiring an additional 1,856 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Gambling.com Group by 1.7% during the 4th quarter. Ameriprise Financial Inc. now owns 120,007 shares of the company’s stock worth $1,690,000 after acquiring an additional 2,017 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in shares of 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 acquiring an additional 2,038 shares during the period. Hedge funds and other institutional investors own 72.26% of the company’s stock.

Gambling.com Group Price Performance

The company has a debt-to-equity ratio of 0.20, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day moving average is $14.23 and its 200-day moving average is $12.51. The firm has a market capitalization of $509.99 million, a price-to-earnings ratio of 17.50 and a beta of 0.99.

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.