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

Taboola.com (NASDAQ:TBLA)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $4.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 32.89% from the company’s previous close.

Several other research analysts have also weighed in on TBLA. Citizens Jmp lowered Taboola.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 27th. Benchmark restated a “buy” rating and issued a $5.00 price objective on shares of Taboola.com in a report on Tuesday, February 25th. JMP Securities reduced 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 note on Monday, January 27th. Oppenheimer reissued a “market perform” rating on shares of Taboola.com in a research report on Wednesday, February 26th. Finally, B. Riley downgraded shares of Taboola.com from a “buy” rating to a “neutral” rating and cut their price target for the company from $5.00 to $4.00 in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Taboola.com has an average rating of “Moderate Buy” and a consensus price target of $4.50.

Taboola.com Trading Up 0.7 %

Taboola.com stock opened at $3.01 on Thursday. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.14. Taboola.com has a 12 month low of $2.69 and a 12 month high of $4.60. The company’s fifty day simple moving average is $3.42 and its 200-day simple moving average is $3.49. The stock has a market cap of $886.94 million, a P/E ratio of -30.10 and a beta of 1.33.

Taboola.com announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire 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 shares are undervalued.

Insider Buying and Selling at Taboola.com

In other Taboola.com news, Director Zvi Limon acquired 168,506 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $2.93 per share, for a total transaction of $493,722.58. Following the completion of the purchase, the director now 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam Singolda purchased 60,229 shares of the company’s stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $2.72 per share, for a total transaction of $163,822.88. Following the completion of the transaction, the chief executive officer now owns 14,462,943 shares in the company, valued at approximately $39,339,204.96. This trade represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 22.40% of the company’s stock.

Institutional Trading of Taboola.com

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Taboola.com by 6.1% during the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Taboola.com by 37.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 373,075 shares of the company’s stock valued at $1,362,000 after acquiring an additional 101,677 shares in the last quarter. Wolverine Trading LLC grew its holdings 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 in the last quarter. Sphera Management Technology Funds Ltd bought a new stake in shares of Taboola.com during the fourth quarter valued at approximately $730,000. Finally, Squarepoint Ops LLC raised its stake in shares of Taboola.com by 168.1% in the fourth quarter. Squarepoint Ops LLC now owns 150,793 shares of the company’s stock valued at $550,000 after purchasing an additional 94,555 shares in the last quarter. 42.89% of the stock is currently 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.