Taboola.com (NASDAQ:TBLA) Downgraded to Neutral Rating by B. Riley

B. Riley cut shares of Taboola.com (NASDAQ:TBLA) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat reports. B. Riley currently has $4.00 price objective on the stock, down from their prior price objective of $5.00.

A number of other research analysts also recently weighed in on the company. JMP Securities decreased 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. Benchmark restated a “buy” rating and issued a $5.00 price target on shares of Taboola.com in a research note on Tuesday. 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Taboola.com has an average rating of “Moderate Buy” and a consensus target price of $4.80.

Taboola.com Stock Down 8.7 %

NASDAQ:TBLA opened at $2.82 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market cap of $823.43 million, a PE ratio of -28.20 and a beta of 1.27. Taboola.com has a 52-week low of $2.82 and a 52-week high of $4.96. The stock has a 50-day simple moving average of $3.72 and a 200 day simple moving average of $3.54.

Taboola.com announced that its board has authorized a stock buyback 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 generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Taboola.com

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Taboola.com by 54.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 727,181 shares of the company’s stock worth $2,443,000 after purchasing an additional 257,009 shares during the last quarter. Empowered Funds LLC lifted its holdings in Taboola.com by 410.5% during the 4th quarter. Empowered Funds LLC now owns 512,422 shares of the company’s stock worth $1,870,000 after purchasing an additional 412,042 shares during the last quarter. Harbor Capital Advisors Inc. lifted its holdings in Taboola.com by 22.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 33,051 shares of the company’s stock worth $121,000 after purchasing an additional 6,094 shares during the last quarter. Barclays PLC lifted its holdings in Taboola.com by 1,218.5% during the 3rd quarter. Barclays PLC now owns 36,431 shares of the company’s stock worth $122,000 after purchasing an additional 33,668 shares during the last quarter. Finally, State Street Corp increased its stake in Taboola.com by 5.5% during the 3rd quarter. State Street Corp now owns 305,350 shares of the company’s stock worth $1,026,000 after acquiring an additional 16,055 shares during the period. 42.89% of the stock is owned by institutional investors and hedge funds.

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.