Gambling.com (GAMB – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst Clark Lampen from BTIG maintained a Buy rating on the stock and has a $19.00 price target.
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Clark Lampen has given his Buy rating due to a combination of factors influencing Gambling.com’s current and future performance. The company’s first-quarter results aligned with expectations, despite minor fluctuations in revenue mix that affected EBITDA. However, these were offset by stronger subscription and advertising revenue. The company is poised for growth in the second half of the year, driven by product investments, revenue synergies, and a shift towards more recurring revenue streams.
Management has identified opportunities to leverage existing customer relationships in Europe and the US, which could enhance sales and subscription growth. Additionally, a revamp of the Rotowire business is anticipated to further boost performance. The company’s valuation appears favorable compared to peers, with a potential for durable revenue growth and a pathway to achieving significant EBITDA. These factors, combined with the potential for multiple expansion, underpin the Buy rating.
GAMB’s price has also changed slightly for the past six months – from $11.770 to $12.520, which is a 6.37% increase.