Taboola.com (NASDAQ:TBLA) Sees Strong Trading Volume – Still a Buy?

Taboola.com Ltd. (NASDAQ:TBLA) shares saw strong trading volume on Tuesday . 450,660 shares traded hands during trading, a decline of 26% from the previous session’s volume of 609,477 shares.The stock last traded at $3.95 and had previously closed at $3.95.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. JMP Securities reduced their price target on Taboola.com from $6.00 to $5.00 and set a “market outperform” rating for the company in a report on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of Taboola.com in a report on Friday, January 17th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $5.25.

Taboola.com Trading Down 1.3 %

The company has a fifty day moving average price of $3.79 and a 200-day moving average price of $3.53. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -39.00 and a beta of 1.27.

Institutional Investors Weigh In On Taboola.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in TBLA. Bridgeway Capital Management LLC lifted its holdings in Taboola.com by 1,257.3% in the 4th 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 lifted its holdings in Taboola.com by 6.1% in the 4th quarter. Wellington Management Group LLP now owns 19,205,915 shares of the company’s stock worth $70,102,000 after purchasing an additional 1,109,602 shares during the last quarter. Millennium Management LLC lifted its holdings in Taboola.com by 42.9% in the 4th quarter. Millennium Management LLC now owns 2,217,442 shares of the company’s stock worth $8,094,000 after purchasing an additional 665,944 shares during the last quarter. Yelin Lapidot Holdings Management Ltd. acquired a new stake in Taboola.com in the 4th quarter worth approximately $1,724,000. Finally, Renaissance Technologies LLC lifted its holdings in Taboola.com by 40.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,546,300 shares of the company’s stock worth $5,644,000 after purchasing an additional 443,700 shares during the last quarter. 42.89% of the stock is currently 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.