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Friday, May 20, 2022

GAN Ltd. (GAN) Stock is Well-positioned in Industry

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GAN Ltd. (GAN) is a leader in providing internet gambling SaaS solutions predominantly to the casino industry and is a leading operator of exclusive digital sports betting technology. It is ranked in the 25th spot in the casinos and gaming industry out of a total of 31 competitors. The international online gambling market was worth $72.3 billion in 2021, and estimations show that it might reach $131.4 billion by 2027, displaying a CAGR of 9.96% during the forecasted 2022-2027 period.

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GAN: Recent Developments

GAN launched iGaming and digital sports betting for Michigan’s Saginaw Chippewa Indian Tribe on April 18, which possesses Soaring Eagle Casino & Resort, which is the largest casino in Michigan. The company announced prior that under the terms of the contract, it had deployed the GameSTACK enterprise software portfolio on the customer’s technical infrastructure deployed on property.

GAN: Earnings

The company displayed a phenomenal rise in its revenue from 2020 to 2021. As the pandemic began, the online gambling industry took a surge. GAN reported the revenue and EPS to be $125.4 million and -$0.59 with a gain of 256% and 20.8% respectively. For the fiscal year ending December 2022, the company anticipates revenue and EPS of $158.1 million and -$0.24 respectively.

Comparison with Peers

GAN’s performance when compared with its peers (AGS, INSE, EBET, NWGI, and NGMS), the one-year performance depicts that the company down-performed (-78%) as compared to its competitors. The best performed was INSE which exhibited +18.7% performance. Then AGS, NWGI, NGMS, and EBET come with -23%, -63%, -70.8%, and -76% performance.

Insider Transactions and Analyst Ratings

GAN possesses approximately 42.2 million outstanding shares, of which the percentage of the shares held by different institutions is 52.2%, while 9.9% of the shares are owned by the company’s workers. B Riley Securities’ analyst David Bain maintained the ‘Buy’ rating of the company and lessened its target price from $26.0 to $10.0.

Risk Factors

No risks are sensed by the company.

Bottom Line

The company is trading at 83.1% below the estimate of its fair value and the earning growth prediction is 108% for the next three years, which is impressive. Also, the company will become profitable in the next three years. So, these plus points indicate that the company stock is in a strong position to attract larger investments.

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