Taboola.com’s (TBLA) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report published on Thursday,Benzinga reports. The firm currently has a $4.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Benchmark reiterated a “buy” rating and set a $5.00 target price on shares of Taboola.com in a report on Tuesday, February 25th. B. Riley cut shares of Taboola.com from a “buy” rating to a “neutral” rating and lowered their target price for the company from $5.00 to $4.00 in a report on Thursday, February 27th. JMP Securities cut their target price on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating on the stock in a research report on Monday, January 27th. Oppenheimer reiterated a “market perform” rating on shares of Taboola.com in a research note on Wednesday, February 26th. Finally, Citizens Jmp cut shares of Taboola.com from an “outperform” rating to a “market perform” rating in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $4.38.

Taboola.com Stock Performance

Shares of Taboola.com stock opened at $3.03 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $892.83 million, a price-to-earnings ratio of -30.30 and a beta of 1.33. The business has a 50-day moving average of $3.41 and a 200 day moving average of $3.49. Taboola.com has a 12 month low of $2.69 and a 12 month high of $4.60.

Taboola.com declared that its board has initiated a stock repurchase program on Wednesday, February 26th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 22.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, CEO Adam Singolda purchased 60,229 shares of the stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $2.72 per share, with a total value of $163,822.88. Following the purchase, the chief executive officer now directly owns 14,462,943 shares in the company, valued at $39,339,204.96. This trade represents a 0.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Zvi Limon acquired 168,506 shares of Taboola.com stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $2.93 per share, with a total value of $493,722.58. Following the purchase, the director now directly owns 2,987,383 shares of the company’s stock, valued at approximately $8,753,032.19. This trade 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 currently owned by corporate insiders.

Institutional Investors Weigh In On Taboola.com

Several institutional investors and hedge funds have recently made changes to their positions in TBLA. Wolverine Trading LLC raised its position 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 worth $63,000 after purchasing an additional 8,463 shares during the last quarter. R Squared Ltd purchased a new stake in Taboola.com in the fourth quarter valued at approximately $68,000. Virtu Financial LLC acquired a new position in Taboola.com during the fourth quarter worth approximately $81,000. Aquatic Capital Management LLC purchased a new position in shares of Taboola.com in the 4th quarter worth $103,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Taboola.com in the 4th quarter worth about $109,000. 42.89% of the stock is currently owned by hedge funds and other institutional investors.

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.