Gambling.com Analysts Slash Their Forecasts Following Q2 Results

Gambling.com Group Limited GAMB reported better-than-expected earnings for the second quarter on Thursday.

The company posted quarterly earnings of 37 cents per share which beat the analyst consensus estimate of 15 cents per share. The company reported quarterly sales of $39.594 million which beat the analyst consensus estimate of $38.915 million.

Gambling.com raised its FY2025 sales guidance from $170.000 million-$174.000 million to $171.000 million-$175.000 million.

Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group, said, “Our second quarter performance was driven by two factors which reflect important broader trends in our business. First is an accelerating diversification away from the traditional search channel in favor of a more omnichannel approach, in particular with the marketing business. Second is an accelerating diversification into revenue models beyond marketing, including sports data services. Our marketing business continues to deliver market share gains and tremendous cash flow. The performance was driven by more and growing contributions from channels other than search than ever before.”

Gambling.com shares dipped 17% to trade at $8.61 on Friday.

These analysts made changes to their price targets on Gambling.com following earnings announcement.

BTIG analyst Clark Lampen maintained Gambling.com with a Buy and lowered the price target from $19 to $12.
Stifel analyst Jeffrey Stantial maintained the stock with a Buy and lowered the price target from $18 to $15.
Truist Securities analyst Barry Jonas downgraded Gambling.com from Buy to Hold and lowered the price target from $17 to $11.
Jefferies analyst David Katz maintained the stock with a Buy and lowered the price target from $18 to $15.

Considering buying GAMB stock? Here’s what analysts think: