Gambling.com Group (GAMB) faces hurdles from shifting artificial-intelligence search patterns, even as prospects for higher earnings loom, Truist said Friday in a note.
The company on Thursday cut 2025 guidance for earnings before interest, taxes, depreciation and amortization by about 7%, citing changes to Google's search algorithm and the impact of AI on search engine optimization, Truist said.
Still, a "best-in-class" management may be on a "credible path" to $100 million in EBITDA, driven party by the strategy for mergers and acquisitions, the report said. "It could take time and progress for investors to look past near-term challenges."
Truist cut its rating on Gambling.com stock to hold from buy and lowered its price target to $11 from $17.
Shares of Gambling.com tumbled 17% in Friday trading.
Price: 8.63, Change: -1.75, Percent Change: -16.86
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