Taboola.com (NASDAQ:TBLA) Reaches New 1-Year Low After Analyst Downgrade

Taboola.com Ltd. (NASDAQ:TBLA) reached a new 52-week low during mid-day trading on Friday after Needham & Company LLC lowered their price target on the stock from $5.00 to $4.00. Needham & Company LLC currently has a buy rating on the stock. Taboola.com traded as low as $2.82 and last traded at $2.82, with a volume of 5026079 shares changing hands. The stock had previously closed at $3.09.

Several other analysts also recently issued reports on TBLA. Benchmark reissued a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research note on Tuesday. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a research note on Wednesday. Citizens Jmp downgraded shares of Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday. B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and cut their target price for the company from $5.00 to $4.00 in a research note on Thursday. Finally, JMP Securities cut their target price on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research note on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.80.

Hedge Funds Weigh In On Taboola.com

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its holdings in shares of Taboola.com by 22.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock valued at $121,000 after acquiring an additional 6,094 shares in the last quarter. Meitav Investment House Ltd. grew its holdings in shares of Taboola.com by 9.4% during the 4th quarter. Meitav Investment House Ltd. now owns 75,500 shares of the company’s stock valued at $279,000 after acquiring an additional 6,500 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Taboola.com by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 183,856 shares of the company’s stock valued at $618,000 after acquiring an additional 8,127 shares in the last quarter. Wolverine Trading LLC grew its holdings in shares of Taboola.com by 98.4% during the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock valued at $63,000 after acquiring an additional 8,463 shares in the last quarter. Finally, Intellectus Partners LLC grew its holdings in shares of Taboola.com by 4.5% during the 3rd quarter. Intellectus Partners LLC now owns 367,668 shares of the company’s stock valued at $1,235,000 after acquiring an additional 16,000 shares in the last quarter. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

Taboola.com Price Performance

The stock has a market capitalization of $823.43 million, a P/E ratio of -28.20 and a beta of 1.27. The stock’s fifty day moving average is $3.72 and its 200-day moving average is $3.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31.

Taboola.com announced that its Board of Directors has initiated a share buyback program on Wednesday, February 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 22.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Taboola.com Company Profile

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.