FTSE 100: Index falls as earnings results weigh; pound below $1.33, Bodycote soars
In a remarkable display of resilience, Gambling.com Group's stock soared to a 52-week high, reaching $13.08. This peak comes amidst a broader market rally that has seen numerous stocks rebound from previous lows. The ascent to this high watermark represents a significant turnaround for the company, which has witnessed an impressive 1-year change, climbing 30.36%. Investors and market analysts alike are closely monitoring Gambling.com Group's performance, as it continues to navigate the dynamic and competitive online gambling industry landscape.
In other recent news, Gambling.com Group Ltd. has announced a record Q3 revenue of $32.1 million, a 37% increase year-over-year, and a significant rise in adjusted EBITDA, reaching $12.6 million, a 108% increase from the same period last year. These results are primarily attributed to a diversified market presence and a strategic focus on casino operations. In light of these developments, the company has revised its full-year revenue forecast to between $125 million and $127 million and raised its adjusted EBITDA outlook to a range of $46.5 million to $48.5 million.
Truist Securities has updated its financial outlook for Gambling.com, increasing the price target to $16.00, up from the previous target of $13.00, and maintaining its Buy rating on the company's shares. The firm's revised stock price target is now based on a 10-times multiple of the company's projected 2025 EBITDA, reflecting Gambling.com's growth profile and its standing relative to peers.
Despite challenges in North America, Gambling.com is confident in its growth strategy and plans to enter new markets in 2025, such as Colombia and Peru. The company also anticipates developments in the regulatory landscape in Brazil. However, customer acquisition is still below potential despite the integration of the Freebets acquisition.
InvestingPro Insights
Gambling.com Group's recent stock performance aligns with several key metrics and insights from InvestingPro. The company's market cap stands at $455.68 million, reflecting its current valuation in the online gambling sector. InvestingPro data shows a robust revenue growth of 27.63% over the last twelve months, with an even more impressive 36.92% growth in the most recent quarter. This growth trajectory supports the stock's upward momentum.
Two InvestingPro Tips are particularly relevant to Gambling.com Group's current situation. First, the stock is trading near its 52-week high, which corroborates the article's mention of the stock reaching $13.08. Second, the company has shown a strong return over the last three months, which is consistent with the 30.36% 1-year change noted in the article.
These insights suggest that Gambling.com Group's recent performance is backed by solid financial metrics. Investors interested in a deeper analysis can access 10 additional InvestingPro Tips, providing a more comprehensive view of the company's prospects in the evolving online gambling industry.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.