Jack Vander Aarde, an analyst from Maxim Group, reiterated the Buy rating on Golden Matrix Group (GMGI – Research Report). The associated price target remains the same with $4.00.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Jack Vander Aarde has given his Buy rating due to a combination of factors that highlight Golden Matrix Group’s strong financial performance and strategic growth initiatives. The company reported impressive first-quarter results for 2025, with revenue reaching $42.7 million, a 72% increase year-over-year, surpassing expectations. This growth is attributed to successful mergers and acquisitions, notably with MeridianBet Group, which has solidified GMGI’s position as a leading global gaming technology company.
Additionally, the management’s guidance for 2025 projects further revenue growth of 26% to 29%, supported by strategic market expansions and acquisitions. The company’s strengthened balance sheet, with significant debt reduction and a healthy cash position, suggests financial stability and the capacity to sustain operations without requiring additional capital. The potential for further growth in untapped markets, such as Brazil and Romania, along with the company’s robust EBITDA outlook, justifies a premium valuation, leading to the reiterated Buy rating and a price target of $4.00.
Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GMGI in relation to earlier this year.