Benchmark Reaffirms Buy Rating for Taboola.com (NASDAQ:TBLA)

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a note issued to investors on Tuesday,Benzinga reports. They presently have a $5.00 price target on the stock. Benchmark’s price objective suggests a potential upside of 61.81% from the company’s current price.

Other equities research analysts have also issued reports about the stock. JMP Securities decreased their price target on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a report on Monday, January 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 target price on shares of Taboola.com in a research note on Friday, January 17th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.25.

Taboola.com Stock Performance

Taboola.com stock opened at $3.09 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. The stock has a market cap of $902.27 million, a PE ratio of -30.90 and a beta of 1.27. Taboola.com has a 12-month low of $2.87 and a 12-month high of $4.96. The business’s 50-day moving average price is $3.74 and its two-hundred day moving average price is $3.55.

Taboola.com announced that its board has authorized a share buyback program on Wednesday, February 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Taboola.com

Large investors have recently modified their holdings of the business. Bridgeway Capital Management LLC grew its stake in shares of Taboola.com by 1,257.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,362,422 shares of the company’s stock worth $4,973,000 after purchasing an additional 1,262,042 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Taboola.com by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock valued at $70,102,000 after buying an additional 1,109,602 shares during the last quarter. Millennium Management LLC grew its position in shares of Taboola.com by 42.9% in the 4th quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock valued at $8,094,000 after buying an additional 665,944 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new stake in shares of Taboola.com in the fourth quarter valued at about $1,724,000. Finally, Renaissance Technologies LLC raised its position in shares of Taboola.com by 40.2% during the fourth quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock worth $5,644,000 after acquiring an additional 443,700 shares during the last quarter. Institutional investors own 42.89% of the company’s stock.

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.