Gambling.com Group Ltd. (GAMB) PT Lowered to $8 at Stifel

Stifel analyst Jeffrey Stantial lowered the price target on Gambling.com Group Ltd. (NASDAQ: GAMB) to $8.00 (from $12.00) while maintaining a Buy rating.

The analyst commented, "GAMB reported a +1% Q4 Adj. EBITDA beat, but established FY26 revenue/EBITDA guidance approx. -5%/-17% below implied guidance introduced at Q3 at midpoint, which management attributed to derivative impact from U.K. tax hike, unfavorable regulatory changes in Finland, and re-accelerating impact to SEO rankings from spam/offshore sites. Despite the meaningful guide miss, shares surprisingly outperformed today, which we think factors a low bar following significant narrative-driven T1Y de-rating (~6x our revised FY26E FCF) and encouraging execution on stated diversification strategy. Narrative far outweighs fundamentals right now for AI-exposed sectors, though we argue 1) GAMB's existing rev-share cash flow stream & fastgrowing data services supports valuation floor, 2) guidance seems appropriately de-risked with potential upside from better Google enforcement, and 3) GAMB's diversification strategy may lead to long-term takeout optionality. Hence, we maintain Buy. Our FY26/27E Adj. EBITDA moves -22%/-20% to align with guidance. Target price to $8."

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