Needham & Company LLC Issues Pessimistic Forecast for Taboola.com (NASDAQ:TBLA) Stock Price

Taboola.com (NASDAQ:TBLA) had its price objective reduced by investment analysts at Needham & Company LLC from $5.00 to $4.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 46.52% from the company’s previous close.

TBLA has been the topic of several other research reports. Citizens Jmp cut Taboola.com from an “outperform” rating to a “market perform” rating in a research note on Thursday. Benchmark reiterated a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a research note on Tuesday. B. Riley cut Taboola.com from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $5.00 to $4.00 in a research note on Thursday. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a research note on Wednesday. Finally, JMP Securities dropped their price objective on 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 analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.50.

Taboola.com Trading Down 3.2 %

NASDAQ TBLA opened at $2.73 on Thursday. The stock has a market capitalization of $797.15 million, a price-to-earnings ratio of -27.30 and a beta of 1.27. The stock’s 50 day moving average price is $3.70 and its two-hundred day moving average price is $3.54. 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 52 week low of $2.69 and a 52 week high of $4.76.

Taboola.com declared that its board has authorized a share repurchase program on Wednesday, February 26th that allows the company 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.

Insider Buying and Selling

In other news, CEO Adam Singolda acquired 60,229 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $2.72 per share, with a total value of $163,822.88. Following the acquisition, the chief executive officer now directly owns 14,462,943 shares in the company, valued at $39,339,204.96. This represents a 0.42 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Zvi Limon acquired 168,506 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $2.93 per share, for a total transaction of $493,722.58. Following the completion of the acquisition, the director now owns 2,987,383 shares in the company, valued at approximately $8,753,032.19. This represents a 5.98 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 22.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wolverine Trading LLC grew its holdings in Taboola.com by 98.4% in the 4th quarter. Wolverine Trading LLC now owns 17,063 shares of the company’s stock valued at $63,000 after buying an additional 8,463 shares in the last quarter. Aigen Investment Management LP acquired a new position in Taboola.com in the 3rd quarter valued at $63,000. R Squared Ltd acquired a new position in Taboola.com in the 4th quarter valued at $68,000. Virtu Financial LLC acquired a new position in Taboola.com in the 4th quarter valued at $81,000. Finally, Aquatic Capital Management LLC acquired a new stake in shares of Taboola.com during the 4th quarter worth $103,000. 42.89% of the stock is owned by institutional investors and hedge funds.

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.