Gambling.com is called a casino sector standout by B. Riley Securities
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B Riley Securities started off coverage on Gambling.com Group Limited (NASDAQ:GAMB) with a Buy rating and a $14 price target.
Analyst David Bain and team noted Gambling.com (GAMB) participates in the hypergrowth online gambling sector with less risk andBKNG) in the travel industry.
Gambling.com (GAMB) is noted to operate ~50 targeted domestic and international Web sites strategically positioned to source depositing customers to online wagering markets.
The company is called a market share gainer with a significant, profitable white space opportunity. GAMB is also seen as poised to profitably outpace the overall online gaming total addressable market.
"We believe GAMB’s high-margin referral model to the online gaming industry piggybacks visible online gaming industry growth and new jurisdictional expansion catalysts and is further fueled by (1) a real-time U.S. B2C mix transition to performance-based marketing, similar to more mature online betting markets; (2) growth of skins, or additional B2C Web sites, leading to multiple success fees with the same B2C operator; and (3) market share gains and profitable new market entrances."
In terms of valuation, GAMB’s CY23 EV/EBITDA valuation implies an ~19% discount to comparables, including ad tech companies, despite historical and expected forward organic growth well above peers.
Gambling.com (GAMB) has a clean sweep of all bull ratings on Wall Street, while the Seeking Alpha Quant Rating is flashing Hold.
GAMB) rose 0.59% in premarket trading to $11.91 vs. the 52-week trading range of $6.62 to $12.13.
