In a remarkable display of market confidence, Gambling.com Group (GAMB) stock has soared to a 52-week high, reaching a price level of $13.36. With impressive gross profit margins of 92% and revenue growth of 28% in the last twelve months, the company's fundamentals support this momentum. According to InvestingPro analysis, the stock's RSI indicates overbought conditions, suggesting investors should monitor the situation carefully. This impressive milestone underscores the company's significant growth trajectory over the past year, which has seen the stock price climb by an astounding 36.84%. Investors have shown increasing enthusiasm for GAMB's prospects, rallying behind the stock as it outpaces broader market trends and sets new records. For deeper insights into GAMB's valuation and 12 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro. The 52-week high serves as a testament to Gambling.com Group's strong performance and the positive sentiment surrounding the company's future in the competitive online gambling industry.
In other recent news, 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 also saw a significant rise in its adjusted EBITDA, which reached $12.6 million, a 108% increase year-over-year. Following these results, Truist Securities has updated its financial outlook for Gambling.com, increasing the price target to $16.00, up from the previous target of $13.00, and maintaining its Buy rating on the company's shares.
The company has revised its full-year revenue forecast to between $125 million and $127 million and raised its adjusted EBITDA outlook to a range of $46.5 million to $48.5 million. In other company news, Gambling.com has repurchased over 8% of its outstanding shares since November 2022.
Despite facing challenges in North America, Gambling.com plans to enter new markets in 2025, such as Colombia and Peru, and anticipates developments in the regulatory landscape in Brazil. The company's CEO, Charles Gillespie, has discussed the company's growth plans, specifically in the Americas, and the intention to enter new markets in 2025. These are among the recent developments for Gambling.com.
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