Jefferies analyst James Wheatcroft has maintained their bullish stance on KMBIF stock, giving a Buy rating on July 9.
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James Wheatcroft has given his Buy rating due to a combination of factors influencing Kambi Group’s performance and future outlook. Despite a challenging second quarter marked by unfavorable comparisons, foreign exchange challenges, and regulatory changes, Kambi Group has maintained its full-year guidance. The company anticipates a stronger performance in the latter half of the year, driven by revenue and customer launch seasonality.
Key aspects supporting the Buy rating include the company’s strong sports margins and new customer launch activities, which are expected to offset the quieter sports calendar and regulatory impacts. Additionally, Kambi Group has secured an extension with an existing customer, LeoVegas, and has signed a new partnership with RedCap in Latin America. The valuation of 6.1x EV/EBITDA for FY25E, coupled with a 4% free cash flow yield, is considered low for a leading platform in online sports betting, suggesting potential upside in the stock’s value.
In another report released on July 9, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a SEK156.00 price target.