Taboola.com (NASDAQ:TBLA) Receives “Buy” Rating from Benchmark

Benchmark reissued their buy rating on shares of Taboola.com (NASDAQ:TBLA) in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a $5.00 target price on the stock.

Several other research analysts have also recently weighed in on TBLA. Needham & Company LLC reissued a “buy” rating and set a $5.00 price objective on shares of Taboola.com in a report on Friday, January 17th. JMP Securities cut their target price on shares of Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a research report 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $4.80.

Taboola.com Price Performance

NASDAQ TBLA opened at $2.82 on Tuesday. 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 capitalization of $823.43 million, a price-to-earnings ratio of -28.20 and a beta of 1.27. The stock has a 50-day moving average of $3.72 and a 200 day moving average of $3.54. Taboola.com has a one year low of $2.82 and a one year high of $4.96.

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

Institutional Trading of Taboola.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC boosted its stake 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 acquiring an additional 8,463 shares during the last quarter. Aigen Investment Management LP bought a new position in Taboola.com in the 3rd quarter worth $63,000. R Squared Ltd purchased a new position in Taboola.com during the fourth quarter valued at $68,000. Virtu Financial LLC bought a new stake in Taboola.com during the fourth quarter valued at about $81,000. Finally, Aquatic Capital Management LLC purchased a new stake in Taboola.com in the fourth quarter worth about $103,000. 42.89% of the stock is owned by hedge funds and other institutional investors.

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.