In a remarkable display of market confidence, Gambling.com Group's stock has soared to a 52-week high, reaching a price level of $14.68, supported by impressive fundamentals including a 91.61% gross profit margin and strong revenue growth of 27.63% over the last twelve months. InvestingPro analysis suggests the stock remains slightly undervalued despite recent gains. This peak reflects a significant uptrend for the company, which has seen its stock value surge by 67.97% over the past six months alone. Investors have shown increasing enthusiasm for Gambling.com's prospects, propelling the stock to new heights as the company continues to capitalize on the expanding online betting industry. The 52-week high milestone underscores the positive sentiment surrounding the firm's performance and future potential in a rapidly growing market, with InvestingPro data revealing an overall Financial Health Score of "GREAT" and eight additional exclusive insights available for subscribers.
In other recent news, Gambling.com Group has made a significant stride with a definitive agreement to acquire Odds Holdings, Inc. for up to $160 million. The acquisition is expected to close in 2025, providing an additional revenue stream for Gambling.com Group and expanding its footprint in the online gambling industry. Analysts from InvestingPro have noted that the company appears undervalued, despite strong execution with a 27.6% revenue growth over the last twelve months to $124.4 million.
Furthermore, Gambling.com Group has reported a record Q3 revenue of $32.1 million, marking a 37% increase from the same period last year. The company's adjusted EBITDA also saw a significant rise, reaching $12.6 million, a 108% increase year-over-year. These strong results have led to a revision in the company's full-year revenue forecast to between $125 million and $127 million, and an increase in its adjusted EBITDA outlook to a range of $46.5 million to $48.5 million.
Truist Securities has subsequently revised Gambling.com Group's stock price target from $13.00 to $16.00, maintaining a Buy rating on the company's shares. This adjustment reflects the company's robust Q3 performance and growth prospects. As part of the company's growth strategy, Gambling.com Group plans to enter new markets in 2025, such as Colombia and Peru, and anticipates developments in the regulatory landscape in Brazil.
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