FTSE 100: Index falls as earnings results weigh; pound below $1.33, Bodycote soars
On Tuesday, Benchmark increased its price target for GAMB shares, listed on NASDAQ, to $18.00, up from the previous $16.00, while reiterating a Buy rating. The momentum is evident in GAMB’s impressive performance, with the stock surging 80% over the past six months and trading near its 52-week high of $16.78. According to InvestingPro analysis, the company maintains exceptional gross margins of 91.6% and currently appears slightly undervalued based on its Fair Value assessment.
The company is poised for continued expansion in international markets, with a particular emphasis on Europe. While the North American market faces short-term challenges, GAMB’s financial health score of "GREAT" on InvestingPro suggests strong fundamentals to support its growth strategy. Management’s optimism about growth resurgence by 2025 is supported by the company’s proven track record, with revenue growing at 27.6% in the last twelve months. InvestingPro subscribers have access to 13 additional key insights about GAMB’s potential, including detailed analysis of its growth trajectory and market positioning.
GAMB’s strategy is centered on organic growth within the iGaming sector, enhancing its collection of valuable digital assets, and pursuing strategic mergers and acquisitions to boost long-term value creation. The company’s recent acquisitions, including Freebets.com and Odds Holdings, are integral to this plan and are areas of interest for both the company and investors.
Investors and analysts are advised to keep an eye on new regulatory changes, especially in the U.S., which could impact the company’s operations. Additionally, the performance of the company’s recent acquisitions will be critical to its ongoing success and are key factors in monitoring its progress in the competitive iGaming landscape.
In other recent news, Gambling.com Group Ltd. has been the subject of several updates from analysts. Benchmark initiated coverage of the company with a Buy rating and a $16 price target, emphasizing the firm’s robust position in the online gambling industry. Truist Securities, on the other hand, raised its price target to $18, following Gambling.com’s acquisition of Odds Holdings, a move that is expected to immediately benefit the company’s EBITDA.
Craig-Hallum also increased its price target to $18, acknowledging the strategic value of the Odds Holdings acquisition. Stifel has adjusted its price target for Gambling.com to $17, in response to the same acquisition.
These recent developments highlight Gambling.com’s strategic moves and potential for financial growth. The acquisition of Odds Holdings, which includes platforms like OddsJam and OpticOdds, is expected to be immediately beneficial to Gambling.com’s earnings and contribute significantly to the company’s financial stability. The deal, worth up to $160 million, is expected to close on January 1, 2025, and is anticipated to result in at least a 20% growth in Adjusted EBITDA from the Odds Holdings assets in 2025.
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