Taboola.com (NASDAQ:TBLA) Board of Directors Announces Stock Repurchase Plan

Taboola.com (NASDAQ:TBLA) declared that its board has authorized a share repurchase program on Wednesday, February 26th, RTT News reports. The company plans to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 22.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently weighed in on TBLA. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Taboola.com in a report on Tuesday. JMP Securities reduced their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research note on Monday, January 27th. Needham & Company LLC restated a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a research note on Friday, January 17th. Finally, Oppenheimer restated a “market perform” rating on shares of Taboola.com in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.25.

Taboola.com Stock Performance

NASDAQ:TBLA opened at $3.09 on Thursday. The stock has a fifty day moving average price of $3.74 and a 200-day moving average price of $3.55. The company has a market cap of $902.27 million, a price-to-earnings ratio of -30.90 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. Taboola.com has a fifty-two week low of $2.87 and a fifty-two week high of $4.96.

Taboola.com (NASDAQ:TBLA) last released its earnings results on Wednesday, February 26th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Taboola.com had a negative net margin of 1.96% and a negative return on equity of 1.68%.

About Taboola.com

Taboola.com Ltd., together with its subsidiaries, operates an artificial intelligence-based algorithmic engine platform in Israel, the United States, the United Kingdom, Germany, and internationally. It offers Taboola, a platform that partners with websites, devices, and mobile apps to recommend editorial content and advertisements on the open web to users.