Gambling.com price target lowered to $12 from $15 at Stifel

Stifel lowered the firm’s price target on Gambling.com (GAMB) to $12 from $15 and keeps a Buy rating on the shares. While aware of the dragged out search issues, the firm says it was “cautiously optimistic management took a ‘kitchen sink’ approach last quarter,” so it is “not surprised” to see shares come under pressure after the company lowered FY25 adjusted EBITDA guidance 8% at midpoint to reflect still unresolved impact to search rankings from the early-Q3 Google algo update. However, the firm sees “a compelling deep value trade at current levels,” the analyst added.