Gambling.com Group (NASDAQ:GAMB) Stock Price Down 5.4% - What's Next?

Gambling.com Group Limited (NASDAQ:GAMB - Get Free Report) saw its stock price decline by 5.4% on Wednesday. The shares traded as low as $16.25 and closed at $15.67. Trading volume was approximately 101,277 shares, representing a significant decrease of 73% compared to the average daily volume of 374,947 shares. The previous day's closing price for the stock was $16.56.

Gambling.com Group has received mixed reactions from analysts.

Wall Street Analysts Provide Insights

Several analysts are weighing in on Gambling.com Group, noting its recent revenue growth and market potential.

• Gambling.com Hits The Jackpot With Breakout, Increasing Revenue

Craig Hallum increased their target price for GAMB shares, raising it from $16.00 to $18.00, giving the stock a "buy" rating as of December 13. Benchmark similarly raised their target from $16.00 to $18.00 and assigned a "buy" rating on February 11. BTIG Research made an optimistic adjustment as well, lifting its target price from $13.00 to $19.00 with a "buy" rating on the same date. Macquarie set its price target at $16.00 after raising it from $14.00. Truist Financial also reaffirmed their "buy" rating while raising their target to $16.00 from $13.00 on November 15. As it stands, eight research analysts currently rate the stock as a buy, giving it a consensus approval with an average target price of $16.88.

Recent Performance Overview

Despite the stock price drop of 5.6%, Gambling.com Group remains a compelling option in the iGaming sector.

• Gambling.com Stock is a Compelling iGaming Growth Play

The company currently holds a market capitalization of $581.93 million and a P/E ratio of 20.05. The stock exhibits a beta of 0.99, indicating a lower volatility compared to the market. The fifty-day moving average stands at $14.72, while the two-hundred-day moving average is $11.98. The company maintains a quick ratio of 1.03 and a current ratio of 1.03, with a debt-to-equity ratio of 0.20, suggesting a stable financial position.

Institutional Trading Activity

Institutional investors have recently adjusted their holdings in Gambling.com Group, showing a notable interest in the stock. AWM Investment Company Inc. increased its stake by 9.8% in the fourth quarter, acquiring an extra 135,000 shares and now holding a total of 1,517,259 shares worth $21,363,000. G2 Investment Partners Management LLC also raised their position by 22.8%, obtaining an additional 153,173 shares. Driehaus Capital Management LLC entered a new position valued at about $7,168,000 in the same period. Additionally, Dimensional Fund Advisors LP increased its stake by 12.6%, holding 503,426 shares valued at $7,089,000. Institutional investors account for 72.26% of the company's shares, indicating strong institutional support.

About Gambling.com Group

Gambling.com Group Limited operates within the online gambling industry as a performance marketing company. It provides digital marketing services primarily for iGaming and social casino products. The company's primary focus areas encompass online casinos, sports betting, and fantasy sports. It operates well-known branded websites, including Gambling.com, Casinos.com, RotoWire.com, and Bookies.com.

Conclusion

With the recent drop in stock price and reports from analysts, investors may be contemplating the next steps for Gambling.com Group. While the stock has received a "buy" rating from multiple analysts, the volatility of its price movements could create uncertainty for investors.

Gambling, Stock, Analyst